MEXC Futures provides several order types:
Users can set the limit price that they are willing to buy or sell at, and the order will be filled at the limit price or the price better than the limit price.
When the limit order placed, the limit order will be filled at the best price if there is the limit price order or order with the best price than the limit price in the order book. Since the order execution decreased the liquidity of the market depths, the taker fee is charged for the trader.
When the limit order placed, the limit order will be in the order book to increase the market depths if there is no limit price order or order with a better price than the limit price available in the market. When the limit order filled, the trader will get the maker fee as the rewards.
A market order is an order to be executed immediately at current market prices. Traders use this order type when they have an urgent execution, and they do not need to set the buy or selling price. The market order can guarantee the execution of orders but the execution price is random because of the quick fluctuation of the market price.
Stop Limit Order
A Limit Order will be placed when the market reaches the Trigger Price. This can be used to stop loss or take profit.
Stop market order
A Market Order will be placed when the market reaches the Trigger Price.
The stop limit and stop market order can be used for profit-taking and stop-loss of the orders in specified conditions：
The assets and positions will not be frozen when users place the stop orders, and the stop orders may be placed unsuccessfully because of violating market fluctuations, price limit, position limit, insufficient insurance assets, insufficient closing positions, the non-transaction status of the contract or system issue. The triggered limit order is like a limit order, which may not be filled, and the unfilled limit order will be in open orders.
he following example can further explain the profit-taking and stop-loss of stop orders:
A user buys over 2,000 long positions at the price of 8000, and he thought that 9000 is the profit-taking price, 7500 is the price of stop-loss that he could stand, the user can place two stop-limit orders, and the trigger price of the stop order is 9000. When the user places this order, the next order will be triggered when the base price is >=9000; the next order will be triggered when the base price is <=7500; so the range of stop-loss or profit-taking is between 7500 and 9000.
When a user selects trigger-limit order, the order will not be executed immediately in the market, which ensures that the user always is the maker and gets the fee as a liquidity provider. At the same time, if the order is executed, the order will be canceled immediately.