Dear BitMax.io Users,
BitMax.io will roll out new order types - market order and stop order, on Jan 23rd, 2019.
What is Market Order?
Market order is an order to buy or sell immediately at the best available price. It is entered with order size only, not price.
The market order will be placed as limit order on the book with 10% price collar. That means the market order (whole or partial) will be executed if the real-time quote is within the 10% deviation from the market price when the order is placed. The unfilled portion of market order will be canceled.
A stop order is an order type that triggers a limit/market order to buy or sell when the designated stop price (or trigger price) is reached. There are two types of stop orders, stop limit order and stop market order. Once a stop order is triggered, respective assets will be put on hold. If there is an insufficient balance, the order will be cancelled.
Stop-limit orders are entered with both stop price and limit price. A limit order will be placed when the stop price level is reached.
For a stop-limit order to buy: stop price ≥ current market price
For a stop-limit order to sell: stop price ≤ current market price
There is no limitation on the limit price.
Stop-Market orders are entered with stop price. A market order will be placed when the stop price level is reached.
For a stop-market order to buy: stop price ≥ current market price
For a stop-market order to sell: stop price ≤ current market price
Post-only Limit Order
Post-only limit orders are limit orders only accepted if they do not match with a pre-existing order. In case any part of such order matches with a pre-existing order, it is immediately removed before executing.
Immediate or Cancel (IOC) Order
An immediate or cancel order (IOC) requires that all or part of the order must be executed immediately. Any part of an IOC order that cannot be filled immediately will be canceled.
Please click this URL for the API documentation: https://GitHub.com/bitmax-exchange/api-doc
Thanks for the continued support!
Jan 21st, 2019