Auto and Limit

In bit-x system traders can create two types of orders: auto and limit. The type of the order is selected when the order is placed in Trade section and affects the way it works during the trading.

Limit Orders

When selecting Limit Order, the trader sets the exchange rate for the trading pair. The order will be closed only at the rate, set by the trader. It means it will be placed only against the counter-orders with the exchange rate equal to the rate of the order in question. If, at the time the order was placed, there are no orders to match, it will stay in trade until the necessary counter-orders appear in the system or the trader cancels their order. In case the number of matching counter-orders is not enough to close the order to the full, it will be partially closed and will stay in trade until more matching counter-orders appear in the system. Partially closed order can be canceled as well.

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Auto Orders

When creating Auto Order, the trader doesn’t set the exchange rate. Trading goes automatically at the current market rate. The order will be placed only against the counter-bids with the exchange rate +-3% from the market exchange rate at the moment of order placement. To deactivate this limitation, the client should tick Trade at Any Price in the order creation form. In this case, their order will be closed regardless the market rate changes, click here.

What should I do if my auto order is not closed at current rate +-3%? f,

at the moment of order placement, there are not enough counter-orders with the exchange rate which differs from the current market rate by no more than 3% , the order will be partially closed and remain in trade until more counter-orders with a suitable rate appear in the system. Also, the trader can cancel such kind of order or deactivate the limit for the exchange rate in Orders section.