Advanced Limit Orders
OKEx's advanced limit orders provide three execution mechanisms beyond standard limit orders:
- Post Only (Maker)
- Fill or Kill (FOK)
- Immediate or Cancel (IOC)
These specialized order types cater primarily to market makers, day traders, and altcoin/contract traders, with upcoming applicability to OKEx's options contracts.
Post Only (Maker) Mode
As the default advanced limit order type, Post Only ensures users:
- Always act as liquidity providers (makers)
- Receive maker fee rebates
- Avoid immediate execution that would incur taker fees
👉 Discover how Post Only orders optimize trading costs
Key Advantages:
- Liquidity Incentives: Particularly valuable in crypto's fragmented liquidity landscape
- Fee Optimization: VIP2+ users with >20 BTC assets can qualify for OKEx's Market Maker Program, achieving industry-low fees (0.015%-0.060% lower than standard rates)
Limitation: Like all limit orders, Post Only doesn't guarantee execution if price levels aren't reached.
Fill or Kill (FOK) Orders
Characteristics:
- Mandates 100% immediate execution
- Automatically cancels if full volume isn't available
- Price-sensitive but volume-critical
Ideal for:
- Scalping strategies where partial fills negate profit margins
- Illiquid markets (e.g., low-cap altcoins)
- Options traders managing bid-ask spreads
Immediate or Cancel (IOC) Orders
Differentiation from FOK:
- Allows partial fills
- Cancels unfilled portions instantly
Primary Use Cases:
- High-frequency trading scenarios
- Extreme market conditions (e.g., flash crashes)
- Time-sensitive position entries/exits
👉 Master advanced order types for volatile markets
FAQ: Advanced Limit Orders Explained
Q: Who benefits most from Post Only orders?
A: Algorithmic traders and market makers prioritizing fee optimization over immediate execution.
Q: When should I use FOK vs IOC?
A: Choose FOK when your strategy requires full execution to remain profitable. Opt for IOC when partial fills are acceptable.
Q: Can advanced orders guarantee better prices?
A: No—they control execution conditions, not market prices. Proper strategy alignment remains essential.
Q: Do these orders work for stop-loss scenarios?
A: Advanced limit orders aren't stop-market orders. For stop-losses, consider OKEx's other risk management tools.
Risk Disclosure: Digital asset trading involves substantial risk. This material shouldn't constitute investment advice. Assess your risk tolerance and consult independent financial advisors as needed.