What Are Iceberg Orders?
Iceberg orders are large buy or sell orders divided into smaller, discreet chunks. They're particularly useful when executing sizable trades in markets with limited liquidity. By masking the full order size, iceberg orders help prevent price slippage—a common issue where large orders inadvertently move the market price, resulting in unfavorable execution rates.
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Step-by-Step Guide to Placing Iceberg Orders with OKX
Step 1: Access the Trading Bots Section
Navigate to the "Trade" tab in OKX's main menu and select "Trading Bots."
Step 2: Enter Iceberg Mode
Under the "Slicing Bots" tab, click on "Iceberg" to activate this strategy.
Step 3: Select Your Trading Instrument
Choose from:
- Spot trading
- Perpetual swaps
- Futures contracts
- Margin trading
- Options markets
Use the dropdown menus to specify your preferred trading pair.
Step 4: Configure Order Parameters
- Order Amount: Total quantity for the iceberg order
- Visible Orders: Number of smaller orders displayed on the order book
Advanced Settings (optional):
- Execution preferences (Quick, Balanced, Passive)
- Limit price control
- Trigger conditions (Instant/Price/RSI-based)
Step 5: Execute Your Trade
Click "Buy" (for long positions) or "Sell" (for short positions) to deploy your strategy.
Step 6: Monitor Performance
View real-time analytics in the strategy overview panel. Click "Details" for granular performance metrics.
FAQs About Iceberg Trading
Q1: What markets support iceberg orders on OKX?
A: The bot works across spot, perpetual swaps, futures, margin, and options markets.
Q2: How does this prevent price slippage?
A: By splitting large orders, the bot minimizes market impact and maintains price stability.
Q3: Can I set custom triggers for order execution?
A: Yes! Choose from instant execution, price-based triggers, or RSI indicators.
Q4: Is there a minimum order size?
A: Requirements vary by trading pair—check OKX's specifications for your selected instrument.
Q5: Where can I get support if issues arise?
A: Contact OKX's 24/7 support team via their official Telegram channel or help center.
Pro Tips for Effective Iceberg Trading
- Liquidity Assessment: Always check the order book depth before placing large iceberg orders.
- Multi-Layer Strategies: Combine iceberg with TWAP (Time-Weighted Average Price) for enhanced stealth.
- Volatility Awareness: Adjust visible order sizes during high-volatility periods to maintain effectiveness.
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Disclaimer: Trading derivatives involves significant risk. This content is educational only and doesn't constitute financial advice. OKX offers restricted availability in certain jurisdictions—always comply with local regulations.
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