Order Types

Limit orders

A Limit Order executes at your specified price or better. It will not be executed at a worse price.

Feature	Detail
Price Control	You set the exact price; the order rests in the book until matched
Execution	Fills when market price reaches your limit price
Fees	Maker fees if resting; taker fees if immediately matched
Best For	Precise entries and exits; avoiding slippage

Example: You want to buy 1 BTC at $50,000 or lower. The current market price is $50,200. Your limit buy order rests in the book until BTC drops to $50,000 — or until you cancel it.

Market orders

A Market Order executes immediately at the best available price. Execution price is not guaranteed — you prioritize speed over price.

Feature	Detail
Speed	Executes instantly against available liquidity
Price	Takes the best available prices in the order book
Slippage	5% tolerance — see Position and Order Limit
Fees	Always pays taker fees
Best For	Entering or exiting quickly in high-liquidity markets

Execution Options

Post-Only

Ensures your order only adds liquidity (maker role).

Feature	Detai
Behavior	If the order would immediately match (take liquidity), it is automatically cancelled
Fees	Guarantees maker fees — never taker fees
Use Case	Capturing maker rebates; algorithmic strategies

Post-Only orders may be cancelled in volatile markets if they would cross the spread.

Reduce-Only

Ensures your order only closes or reduces an existing position — it cannot open a new position or increase exposure.

Feature	Detail
Behavior	Order size is capped at your current position size; any remainder is cancelled
Direction	Can only move the position toward zero — not reverse or increase it
Use Case	Taking profits; closing positions without accidentally flipping direction

Time-in-Force(TIF)

Option	Description	Use Case
GTC(Good-Til-Cancel)	Order remains active until a specified expiration time, then auto-cancelled	Setting orders overnight; scheduled exits
IOC(Immediate-or-Cancel)	Executes immediately for whatever quantity is available; unfilled portion is cancelled. Never rests in the book.	Capturing fleeting opportunities; testing liquidity

Related Pages

Pages	Description
Order Matching	How TxFlow matches orders
Margin Tiers	Maximum leverage by asset and position size
Liquidation	Detailed liquidation mechanics
Trading Fees	Trading and funding fees