What order types does OKX's trading pair support?

OKX supports various order types like market, limit, stop, and more, helping traders manage risks and enhance strategies effectively.

Apr 12, 2025 at 01:15 pm

OKX, one of the leading cryptocurrency exchanges, offers a variety of order types to cater to the diverse needs of traders. Understanding these order types can significantly enhance your trading strategy and help you manage risks more effectively. In this article, we will explore the different order types supported by OKX's trading pairs.

Market Orders

A market order is the simplest type of order and is used when a trader wants to buy or sell a cryptocurrency at the best available price in the market. When you place a market order, it gets executed immediately at the current market price. This type of order is ideal for traders who prioritize speed over price.

• To place a market order on OKX, navigate to the trading page of your chosen trading pair.
• Click on the "Buy" or "Sell" button, depending on your intention.
• Select "Market" from the order type dropdown menu.
• Enter the amount you wish to buy or sell.
• Review your order details and click "Place Order" to execute the trade.

Market orders are useful in highly volatile markets where prices can change rapidly, but they do not guarantee a specific execution price, which can be a disadvantage.

Limit Orders

A limit order allows traders to specify the price at which they want to buy or sell a cryptocurrency. Unlike market orders, limit orders are not executed immediately; they are added to the order book and are only executed when the market reaches the specified price.

• To place a limit order on OKX, go to the trading page of your chosen trading pair.
• Click on the "Buy" or "Sell" button.
• Select "Limit" from the order type dropdown menu.
• Enter the price at which you want to buy or sell and the amount of cryptocurrency you wish to trade.
• Review your order details and click "Place Order" to add your order to the order book.

Limit orders are beneficial for traders who want to control the price at which they enter or exit a position. However, there is a risk that the order may not be executed if the market does not reach the specified price.

Stop Orders

A stop order, also known as a stop-loss order, is used to limit a trader's loss on a position. A stop order becomes a market order once the stop price is reached. This type of order is useful for managing risk and protecting profits.

• To place a stop order on OKX, go to the trading page of your chosen trading pair.
• Click on the "Buy" or "Sell" button.
• Select "Stop" from the order type dropdown menu.
• Enter the stop price at which you want the order to be triggered and the amount of cryptocurrency you wish to trade.
• Review your order details and click "Place Order" to set the stop order.

Stop orders can help traders minimize losses in volatile markets, but they do not guarantee a specific execution price, as they convert to market orders once triggered.

Stop-Limit Orders

A stop-limit order combines the features of a stop order and a limit order. When the stop price is reached, the stop-limit order becomes a limit order, which is then executed at the specified limit price or better.

• To place a stop-limit order on OKX, go to the trading page of your chosen trading pair.
• Click on the "Buy" or "Sell" button.
• Select "Stop-Limit" from the order type dropdown menu.
• Enter the stop price at which you want the order to be triggered, the limit price at which you want the order to be executed, and the amount of cryptocurrency you wish to trade.
• Review your order details and click "Place Order" to set the stop-limit order.

Stop-limit orders offer more control over the execution price compared to stop orders, but there is a risk that the order may not be executed if the market does not reach the limit price after the stop price is triggered.

Post-Only Orders

A post-only order is a type of limit order that is designed to ensure that the trader's order is added to the order book without being immediately executed against an existing order. This type of order is useful for traders who want to provide liquidity to the market and earn trading fees.

• To place a post-only order on OKX, go to the trading page of your chosen trading pair.
• Click on the "Buy" or "Sell" button.
• Select "Post-Only" from the order type dropdown menu.
• Enter the price at which you want to buy or sell and the amount of cryptocurrency you wish to trade.
• Review your order details and click "Place Order" to add your order to the order book.

Post-only orders are beneficial for traders who want to avoid taking liquidity from the market and prefer to earn rebates instead of paying fees.

Take Profit Orders

A take profit order is used to lock in profits by automatically selling a cryptocurrency when it reaches a specified price. This type of order is useful for traders who want to ensure that they do not miss out on potential gains.

• To place a take profit order on OKX, go to the trading page of your chosen trading pair.
• Click on the "Sell" button.
• Select "Take Profit" from the order type dropdown menu.
• Enter the price at which you want to sell and the amount of cryptocurrency you wish to trade.
• Review your order details and click "Place Order" to set the take profit order.

Take profit orders help traders manage their positions more effectively by automatically closing trades at a profitable price level.

Trailing Stop Orders

A trailing stop order is a type of stop order that adjusts the stop price as the market price moves in favor of the trader. This type of order is useful for locking in profits while allowing the position to remain open as long as the market continues to move in the desired direction.

• To place a trailing stop order on OKX, go to the trading page of your chosen trading pair.
• Click on the "Sell" button.
• Select "Trailing Stop" from the order type dropdown menu.
• Enter the trailing amount (in percentage or price) and the amount of cryptocurrency you wish to trade.
• Review your order details and click "Place Order" to set the trailing stop order.

Trailing stop orders are beneficial for traders who want to maximize their profits without having to constantly monitor the market.

Frequently Asked Questions

Q: Can I cancel an order after it has been placed on OKX?

A: Yes, you can cancel an order on OKX as long as it has not been executed. To cancel an order, go to the "Open Orders" section on the trading page, find the order you wish to cancel, and click the "Cancel" button next to it.

Q: Are there any fees associated with different order types on OKX?

A: Yes, OKX charges different fees depending on the order type and the trading pair. Market takers typically pay higher fees than market makers. You can find detailed fee information on the OKX website under the "Fees" section.

Q: Can I use multiple order types simultaneously on OKX?

A: Yes, OKX allows you to place multiple orders of different types simultaneously. This can be useful for implementing complex trading strategies that involve multiple entry and exit points.

Q: How can I track the status of my orders on OKX?

A: To track the status of your orders on OKX, go to the "Order History" section on the trading page. Here, you can view all your past and current orders, including their status, execution price, and any remaining amounts.