An advanced limit order lets you control how your order is processed in more detail by adding a validity condition to a limit order. You choose one of the Post only, IOC or FOK conditions. An advanced limit order can only be used in the advanced Buy/Sell view.
What is an advanced limit order?
An advanced limit order is an order type that adds a validity condition to a limit order placed at the price you set. With a standard limit order, the order waits in the order book until it matches. With an advanced limit order, you choose when the order is considered valid and what happens if it does not match: it is only added to the order book (Post only), only the part that matches immediately is processed (IOC), or it is cancelled if it does not fill completely and immediately (FOK).
When to use it
- When you want your order to only be added to the order book and traded as a maker
- When you want to process only the part of your order that fills immediately and not leave the rest pending
- When you want your order to either fill completely or not fill at all
How to place an advanced limit order?
To place an advanced limit order, first turn on Advanced view and select Advanced as the Buy/Sell view, then select the asset from the Buy/Sell tab, tap the Buy or Sell button, select Advanced limit from the Select order type screen, enter the price, set the validity condition (Post only, IOC or FOK) and enter the amount to create your order. The order is processed according to the condition you select.
Before you begin
- Account verification must be complete
- An advanced limit order is placed only in the advanced Buy/Sell view. To use this view, go to the My account section from the menu icon in the top left of the screen, turn on Advanced view and select Advanced as the Buy/Sell view
- Depending on the pair you select, you must have enough TRY or USDT balance to buy and enough crypto asset balance to sell
Steps
- Tap the Buy/Sell tab in the bottom navigation and make sure the Buy/Sell view is Advanced (if the tab is not visible or the view is Standard, first open My account > Advanced view from the menu icon in the top left, turn it on and select Advanced as the Buy/Sell view)
- Tap the asset name at the top of the screen to choose the asset you want to trade, or continue with the asset already selected
- Tap the pinned Buy or Sell button at the bottom of the screen
- Tap the Order type field, then select Advanced limit from the Select order type screen that opens
- Enter the price you want to trade at
- From the options that open, select the validity condition for your order: Post only, IOC or FOK
- Enter the amount or slide the slider to select a portion of your balance
- Tap Buy or Sell to create your order
Note: To compare order types, you can tap the Learn about order types link in the top right corner of the Select order type screen
The difference between Post only, IOC and FOK
With an advanced limit order, you select one of three validity conditions. Each condition determines the matching behaviour of your order differently.
- Post only — Your order is only added to the order book. If the order would match an existing order the moment it is placed, it is cancelled before being processed. This condition ensures your order always trades as a maker.
- IOC (Immediate or cancel) — Only the part of the order that matches the moment it is placed is filled. The unmatched part is cancelled without being added to the order book.
- FOK (Fill or kill) — The order is processed only if the entire amount can fill the moment it is placed. If the full amount cannot match immediately, none of the order is filled and the order is cancelled.
Important information
- The minimum trade amount is TRY 100 for TRY pairs and 1 USDT for USDT pairs
- An advanced limit order can only be used in the advanced Buy/Sell view; it is not supported in the easy and standard views
- With the Post only condition, the maker fee rate applies because the order is only added to the order book
- With the IOC and FOK conditions, no trade is performed for the parts cancelled immediately; the fee applies only to the part that fills
- You can track an order added to the order book from the Open orders tab and cancel it
Frequently asked questions
What is the difference between an advanced limit order and a normal limit order?
A normal limit order waits in the order book until it matches when the price you set is reached. With an advanced limit order, you add a validity condition (Post only, IOC or FOK) to this limit order, so you decide in advance what happens if the order does not match.
What does the Post only condition do?
Post only ensures your order is only added to the order book. If the order would match an existing order the moment it is placed, it is cancelled. This way your order always trades as a maker.
What is the difference between FOK and IOC?
With IOC, the part of the order that matches immediately is filled and the rest is cancelled. With FOK, if the entire order cannot fill immediately, none of it is filled and the order is cancelled entirely.
Can I place an advanced limit order in the standard view?
No. An advanced limit order can only be used in the advanced Buy/Sell view; it does not appear in the easy and standard views. You can enable it from the menu icon in the top left of the screen by opening My account > Advanced view and selecting Advanced as the Buy/Sell view.
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