FameEX Futures Order Types

Currently, FameEX futures support six types of orders:

1. Limit Order
2. Market Order
3. Limit TP/SL Order
4. Market TP/SL Order
5. Conditional Order
6. Post Only Order

1. Limit Order

With a limit order, you can place an order at a specific price or at a better price. If the market price reaches or is lower than your limit price, the limit buy order will be executed. If the market price reaches or is higher than your limit price, the limit sell order will be executed. Please note that limit orders are not guaranteed to be filled.

Buy scenario:

Current ETH price: 3,934.23 USDT, as the latest price

You place a limit buy order:

• Price: 3,920.00 USDT, below the market price
• Amount: 0.5 ETH
• Result: The limit buy order will be executed only when the price drops to 3,920.00 USDT or lower.

Sell scenario:

You have an ETH position at a current price of 3,934.23 USDT.

You place a limit sell order:

• Price: 4,000.00 USDT, above the market price
• Amount: 0.5 ETH
• Result: The limit sell order will be executed only when the price rises to 4,000.00 USDT or higher.

2. Market Order

A market order allows users to buy or sell immediately at the best available market price, ensuring fast execution. The final execution price is determined by the available limit orders in the order book. As a result, slippage may occur, and the executed price may differ from the price displayed at the time the order is placed.

Buy scenario:

You place a market buy order for 1 ETH.

Result: The order is executed immediately at the best available market price. Slippage may occur.

Sell scenario:

You hold a position of 1 ETH.

You place a market sell order for 1 ETH.

Result: The order is executed immediately at the current highest bid price in the market.

3. Limit TP/ SL Order

A limit TP/SL order is a conditional order that is valid within a specified time period. When the preset take-profit or stop-loss price is reached, the order will be executed at a specified limit price. Once the take-profit or stop-loss condition is triggered, the trade is placed at the preset limit price.

Note: Limit orders follow the price priority principle.

When multiple limit TP/SL orders are submitted, a later-triggered order may override an earlier one due to price priority.

Limit stop-loss scenario:

You hold a long ETH position and want to trigger a stop-loss when the price falls below 3,900.00 USDT, but you do not want the order to be executed at a price lower than 3,890.00 USDT.

Settings: Set a trigger price of 3,900.00 USDT, a limit order price of 3,890.00 USDT, and an order amount of 0.5 ETH.

Result: When the trigger reference price is met, the system places a limit sell order at 3,890.00 USDT, which may remain partially or fully unfilled if there is insufficient buying liquidity at that price or better.

4. Market TP/SL Order

Similar to limit TP/SL orders, market TP/SL orders are triggered by preset take-profit or stop-loss prices. The difference is that once the trigger price is reached, a market order will be placed.

Market TP/SL buy scenario:

Trigger price: 3,900.00 USDT

Result: If the price reaches 3,900.00 USDT, a market buy order will be triggered.

Market TP/SL sell scenario:

You hold ETH, and the current price is 3,845.00 USDT.

Trigger price: 3,790.00 USDT

Result: If the price drops to 3,790.00 USDT, a market sell order will be triggered.

5. Conditional Order

A conditional order is a type of strategy order. Users can preset a trigger price and an order price. When the market price reaches the trigger price, the system will automatically place an order at the specified order price. Conditional orders can be used for take-profit or stop-loss position closing, or for opening positions based on market trends. Conditional orders do not freeze the user’s margin or positions.

6. Post Only Order

After placing a Post Only order, the order will be added to the order book but will not be executed immediately. Post Only orders act as resting orders and add liquidity to the order book.

Buy scenario:

You place a Post Only limit buy order at 3,920.19 USDT, below the best ask price.

Result: The order adds liquidity to the order book and will not be filled immediately.

Sell scenario:

You place a Post Only limit sell order at 3,980.12 USDT, above the best bid price).

Result: The order remains in the order book waiting to be matched.