If you plan to place a limit order/stop limit order, you can enable the advanced mode function. There are many included functions that we will introduce to you one by one:
In the advanced mode, you may have a choice in whether to enable the post-only function.
Enabling post-only will ensure your order enters a buy or sell order. Unless any part of your order is executed immediately in the selected mode due to its price reaching that of the matching engine, it will be canceled. You will be charged liquidity provider fees (i.e., maker fees) upon entry.
If you quit post-only, any tradable part of your order will be executed immediately, and the corresponding withdrawal fees (i.e., Taker fees) will be charged. Any remaining part will enter a buy or sell order, and the liquidity provider fees (i.e., maker fees) will be charged upon entry.
2. Time in Force
In the advanced mode, you may choose Time in Force. This is an order time retention policy, including the following modes:
Good Til Canceled (GTC): This order will be placed in the order queue and will remain valid until it is canceled.
Good Til Time (GTT): This order will be canceled automatically if it fails to be executed within a fixed time.
Immediate or Cancel (IOC): The tradable part of this order will be executed immediately, and the remaining part will be canceled and never enter a buy or sell order.
Fill or Kill (FOK): The entire order will be executed immediately, otherwise, it will be canceled.
If you quit Time in Force, Good 'Til Cancelled (GTC) will be executed by default. And if you enable post-only, only GTC and GTT are available in Time in force.
3. Hidden Order
A Hidden Order is a limit order, but it is invisible in the order list. Users may click “Hidden” in limit orders or stop limit orders to place it. With this type of order, dealers are able to hide their intentions.
For example, if the Hidden Order mode is enabled for a limit order with the quantity of 100 (i.e. the displayed quantity is set to be 0), this order would only be visible in the user’s current order module after he/she places an order, which is not accessible to other users in a buy or sell order. It helps to hide your intentions. However, other users can still check the trading details in the “Trade History”.
4. Iceberg Orders
An Iceberg Order is a Hidden Order where a part of the order is displayed on the public order book. As experienced traders may be able to identify Hidden Orders, some traders prefer to use an Iceberg Order in an attempt to make Hidden Orders through an increased number of seemingly regular trades. You can enable Hidden Orders by selecting either the Limit Order or Stop Limit Order and then choosing the “Hidden” option and inputting an effective quantity to display.
To enable Hidden Orders, it requires setting the quantity to display; when such quantity is set to 0, such order type will be a Hidden Order; when such quantity is set to be more than the minimum trade quantity but less than the order quantity, such order will be Iceberg Order.
For example, you are going to buy 100KCS with price 0.00014BTC through Iceberg Order, the display quantity is set to 5, please follow the instructions below: