Tutorial: Order Types on eosfinex
An overview of the various order types available on eosfinex.
eosfinex makes available a range of unique order types to provide you with the tools required to implement a successful trading strategy.
The order types outlined below are visible upon accessing eosfinex and navigating to the order form as highlighted on the left-hand side of the eosfinex UI.
Traders on eosfinex pay a 0% maker fee and a 0.2% taker fee. Additionally, makers earn a 0.05% rebate for providing liquidity to the exchange.
1. Market Order
A market order is an order type that executes immediately against the best price available. A market sell will match the best available bids on the order book, and a market buy will match against the best available asks on the order book. Market orders are often used when rapid execution is prioritized over the price at which the order executes.
2. Limit Order
A limit order allows the trader to specify the most aggressive price at which they would like to buy or sell an asset. A limit order will not execute at a price worse than the limit price. Any unexecuted size will rest in the order book until it eventually trades or is canceled.
Ticking ‘Post Only’ will ensure that the limit order will be added to the order book and not match with a pre-existing order. This guarantees that the trader receives the maker rebate.
4. IOC — Immediate or Cancel
An Immediate Or Cancel (IOC) order will ensure that the order is executed immediately, and canceling any unfilled size if this isn’t possible.
5. Release On Trade
Ticking ‘Release on Trade’ transfers any new funds received out of the exchange to a sidechain account post-trade.
6. Sweep Collateral
Ticking ‘Sweep Collateral’ will transfer your entire balance out of the exchange account to a sidechain account upon order completion or cancellation.