Order Types

The following types of orders are available on the Bitfex Exchange:


These are orders executed immediately at the current market price.


These orders execute at a specific price — known as the limit price — or better.

Buy limit orders can be executed only when a seller is willing to accept your limit price or lower.

A sell limit order can be executed only when a buyer is willing to pay your limit price or higher.

Stop or Stop-Market

A stop order is an order which whenever the price reaches the trigger value you have specified — known as the stop price — it automatically becomes a market order.

Traders who buy using a stop order usually do so to limit potential losses or protect a profit.

A Buy stop order is always placed with a stop price above the current market price.

Traders place a sell stop order to avoid further losses or to protect a profit that exists in case the market continues on a downward trend.

The sell stop price is always set below the current market price.


This type of order combines the features of both a stop order and a limit order.

When the stop price (trigger value) is reached, the stop order becomes a limit order rather than a market order.

Trailing-Stop (coming soon)

In these types of orders, the trader sets a Trail Price; if the markets regresses by a price equal to the Trail Price, a Market Order is triggered.

A Trailing Buy Order has a positive Trail Price. A Trailing Sell Order has a negative Trail Price.

Post-Only (coming soon)

A post-only order is a limit order that is accepted if and only if it does not execute immediately, thereby ensuring it takes no liquidity from the order book. It executes as a maker order.

Bracket (coming soon)

These are three-component conditional orders. They comprise a main order (i.e. the buy or sell order), a stop-loss order and take-profit order.

Since the main order is accompanied or bracketed by the other two orders, these are called brackets.

Iceberg (coming soon)

A large single order that has been automatically divided into smaller limit order so that the actual order quantity remains hidden is called an iceberg.

Just like an iceberg, only the tip , i.e. a small portion of the order is visible on the market, while the bulk stays hidden.

One-Cancels-Other (coming soon)

One-cancels-other (OCO) is a conditional order, where depending on the execution of the first order, another order gets cancelled automatically.