Advanced Limit Order is an upgrade on the Limit Order, which adds Auto Cancel and Maker Only. When you choose Auto Cancel, the system will place your order in the market at the price you set and cancel your order whether it is executed 100% or not. When you choose Maker Only, your order will not be placed into the market immediately and the system will guarantee that your order is to be executed as Maker. If your order is to be executed as Taker immediately, it will be canceled automatically.
For example,
If you choose Auto Cancel in BTC/USDT trading pair and the first ask order is 1 BTC at 5261 USDT.
- You choose to buy 0.5 BTC at 5261 USDT using Auto Cancel, and the first ask order is 1 BTC then you will buy 0.5 BTC at 5261 USDT.
- You choose to buy 2 BTC at 5261 USDT using Auto Cancel, and the first ask order is 1 BTC then you will buy 1 BTC at 5261 USDT. The rest of the order will be canceled automatically.
- You choose to buy 1 BTC at 5000 USDT using Auto Cancel, and the first ask price is 5261 USDT then your order will not be executed, and the rest of the order will be canceled automatically.
If you choose Maker Only in BTC/USDT trading pair, and the first ask order is 1 BTC at 5261 USDT.
- When you choose to buy 1 BTC at >= 5261 USDT and if your order is to be executed with a pre-existing order immediately then the order you place will be automatically canceled.
- When you choose to buy 1 BTC at < 5261 USDT. Your order will be listed if it is not executed with a pre-existing order
