McnEx currently provides two types of order methods for spot trading:
�� Limit Order
A limit order allows users to set a preferred buying or selling price. The order will only be executed when the market price reaches or improves upon the user’s specified price.
Trigger Price: Set manually by the user. Orders are only filled once the market meets or exceeds the target price, which may result in slower execution.
If no matching orders are available in the market temporarily, the limit order will be placed in the order book pending execution, helping increase market depth.
Advantages:
• Precisely control the transaction price, ideal for setting take-profit levels or ideal entry points.
• Suitable for traders with clear price expectations.
Disadvantages:
• Execution is not guaranteed; orders may remain unfilled for a long time.
• Unable to adapt to rapidly fluctuating markets.
�� Market Order
A market order is executed instantly at the best available current market price. No manual price setting is required, ensuring fast order execution.
Trigger Price: Traded immediately based on the latest market transaction price, though the final execution price may have slight deviations.
Advantages:
• Immediate execution for fast buying and selling.
• Ideal for seizing trading opportunities or responding to sudden market movements.
Disadvantages:
• In periods of extreme market volatility, the actual execution price may differ from expectations.
✅ It is recommended that users flexibly select the appropriate order type based on market fluctuations and personal trading strategies to achieve an optimal trading experience.