Post-Only(GTX), Price-limited Order(GTC), Full-Exchange Order(FOK), Partial-Exchange Order(IOC)

When placing a limit order, COINRF provide four order execution plans as follows:

1. Post-Only: GTX

GTX orders are executed only at the specified price, and orders are automatically canceled when the specified price is exceeded. It is set not to be executed at the market price, preventing execution due to unwanted price fluctuations. The fee is lower, and unfilled orders remain in the limit price status and are executed when the price is reached.

Example) When placing a buy order for 1,000 coins at 1.00 USDT

If there are already more than 1,000 coins in the market for sale at 1.00 USDT, and the order can be executed immediately at the market price, Post-Only GTX will automatically cancel this order. Conversely, if there is no quantity to be executed at the market price, the order remains in the limit price status and waits, and is executed only when the specified price is reached.

2. Price Limited Order: GTC(Good 'Til Canceled)

GTC orders can be executed at the market price if the specified price is not reached. Some are executed at the market price and the rest at the limit price, and the Taker fee and Maker fee are applied accordingly.

This order method is not canceled and is maintained until all are executed, and it is a flexible trading strategy that mixes the market price and the limit price. GTC orders are widely used in most exchanges, and COINRF uses GTC as the default setting.

Example) If you order 1,000 units at a limit buy order at 0.45 USDT

600 units are already sold at 0.45 USDT, so they are executed immediately, and the remaining 400 units are waiting as a limit buy order at 0.45 USDT. If a seller appears at that price after some time, the remaining 400 units can also be executed, and a total of 1,000 coins can be purchased.

3. Full Exchange Order: FOK(Full or Kill)

FOK is an abbreviation for "Full or Kill". The order must be executed immediately at the specified price or a better price, and it is impossible to execute only a part of the order. If the order is not executed completely, the order itself will be canceled.

Example) If you order 1000 units with a limit buy order at 0.45 USDT

If there are only 600 units in the market to sell, the entire quantity cannot be executed, so the order will be automatically canceled. As a result, no coins were purchased.

 4. Partial Exchange Order: IOC(Immediate or Cancel)

IOC is a method in which only the part of the order that can be executed immediately at the specified price or a better price is traded, and the remaining amount is automatically canceled. The amount that can be executed is traded immediately, and the remaining unexecuted portion is canceled.

Example) If you place a limit buy order at 0.45 USDT for 1,000 units

If there are already 600 units available for sale in the market, 600 units will be executed immediately and the remaining 400 units will be canceled. As a result, 600 units will be purchased.

For other questions, please check the FAQ menu

COINRF is committed to providing more convenient services to our customers.

If you have any questions, please use the Customer Center and COINRF official Telegram below.

★ Customer Center inquiries: https://coinrf.zendesk.com/hc/en-us/requests/new

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Thank you!

COINRF Team