Understanding Order Types: Market, Limit, IOC, and Slippage Setting on Helix Markets

At Helix Markets, we offer a variety of order types to suit your trading strategies. Understanding these order types, including market, limit, immediate or cancel (IOC), and the slippage setting, is crucial for effective trading. This guide will provide an overview of each to enhance your trading experience on our platform.

1. Market Orders

A market order is the simplest type of order. It's an instruction to buy or sell a cryptocurrency at the best available current price.

• Instant Execution: Market orders are executed immediately.
• Best Available Price: The order is filled at the best price currently available in the market.
• Use Case: Ideal for traders who prioritize speed of execution over price control.

2. Limit Orders

A limit order allows you to specify the exact price at which you want to buy or sell a cryptocurrency.

• Price Control: You set the maximum price you’re willing to pay for a buy order or the minimum price for a sell order.
• Execution at Your Price or Better: The order will only be filled at your specified price or a more favorable one.
• Use Case: Suitable for traders who prioritize price over immediate execution.

3. Immediate or Cancel (IOC) Orders

The IOC order is a more advanced type. This order type requires all or part of the order to be executed immediately. Any unfilled portion of the order is canceled.

• Partial Fulfillment: It allows for partial execution.
• Quick Response: Ideal for traders who want immediate execution but are also willing to accept partial fulfillment of their orders.
• Use Case: Useful in fast-moving markets where immediate execution is crucial.

4. Slippage Setting

Slippage refers to the difference between the expected price of an order and the price at which the order is actually filled.

• Slippage Control: The slippage setting allows you to specify the % of maximum price slippage you’re willing to accept for your order.
• Market Volatility Protection: This setting is particularly useful in volatile markets, where prices can change rapidly.
• Use Case: Important for traders who want to minimize the risk of price movements affecting their order execution.