A limit order is an order you place on the order book with a specific limit price. The limit price determines the maximum or minimum price you want to trade at. The order will be filled if the last price reaches your limit price or better.
A limit order may be filled with different prices in order to fulfill the order amount.
- Sell Limit Orders will fill when the last price is equal to or greater than the limit price.
- Buy Limit Orders will fill when the last price is equal to or less than the limit price.
A market order is an order to immediately buy or sell at the best available current price. This means it will be executed against any open orders on the order book (e.g. open limit orders). A market order may be filled with different prices in order to fulfill the order amount.
Because market orders are executed immediately, maker orders will always incur taker fees. Retail users can now earn up to 0.10% on taker fees when they trade on the Exchange. Learn more here.