Basic order types
Basic order types are the core execution methods on 1024EX. They define how your order enters the market and how much control you have over execution price.
Market and Limit Orders
1024EX currently supports two basic order types: Market and Limit.
A Market Order is designed for immediate execution. It fills at the best available price in the order book, which makes it useful when execution speed matters more than exact price control. However, the final execution price may differ from the price you see before submitting the order, especially in fast-moving or low-liquidity markets.
A Limit Order lets you set the maximum price you are willing to pay when buying, or the minimum price you are willing to accept when selling. The order will only execute at your specified price or better. This gives you more control over execution price, but the order may not fill if the market does not reach your limit price.
How to Choose
Use a Market Order when you want the trade to execute as quickly as possible and are willing to accept potential slippage.
Use a Limit Order when price control is more important than immediate execution, and you are comfortable waiting for the market to reach your target price.