Order Types in Spot Markets

KuCoin spot markets provide traders with a variety of different order types that can be used to execute trades.

Order types offer different kinds of conditions or instructions that can be used to trade crypto or assets at specific prices or in certain scenarios. Orders are submitted to spot markets by a trader and remain in the order book until they are matched with another order that meets the order type's conditions or requirements.

Some commonly used order types in spot markets include

Market Orders

A market order is an instruction to buy or sell an asset at the best available price in the market. Market orders guarantee the execution of an order, but don’t specify an exact price – market orders are filled at the best possible current market price, and are generally completed instantly.

Limit Orders

A limit order allows traders to buy or sell an asset at a specific price or better. A buy limit order, for example, allows a trader to specify the exact price they want to pay for an asset.

Sell limit orders, conversely, allow traders to specify the maximum price they will accept for their assets. Unlike market orders, limit orders may not be completed instantly – a limit order will remain active until the price specified by the trader that created the order is available.