Orders are the instructions that a Client gives to the system to make a trade (buy or sell), under certain conditions, they can be simple or somewhat advanced depending on the degree of knowledge you have about it.  


 

If you prefer a simpler way to buy Cryptocurrencies you can do it in the "Buy and Sell" menu, which offers you a quick and easy way to make purchases or sales. Generating an operation that is executed automatically allowing operations to be performed in an easy way.


 

In Banexcoin there are several types of orders that can be created by the client such as:

 



Market Order


This is a very common and simple type of order, which is a client's mandate to make a purchase of BTC at the estimated market price, it is executed in a practically automatic way by pressing the place purchase order button.






 Below, you can see the example of how to place a purchase order at market price:

 

 Go to the Exchange menu:

 

 


Which will show you the area of the exchange where you can perform your analysis and price estimates using the different tools we have at your disposal, then select the operation to perform depending on what you want to do Buy or Sell as shown in the following figure


 In the upper left of its screen you can see an indicator of the pair with which you want to trade which indicates currency type and also the respective exchange rate

 


Already in the menu you can see the different options to place buy and sell orders and under these you can see some parameters for the transaction such as price, commissions, total of the order and the amount to receive.



 

To create the order it is necessary to set the type of order, then set the amount you want to obtain in bitcoin and finally click on the button "PLACE PURCHASE ORDER", in the example on the right a Market order is shown.


After having placed the purchase order you will see on the screen the confirmation of the order and you must verify the summary of your order before pressing the "CONFIRM PURCHASE ORDER" button

 


When your order is completed you will see your product obtained in your respective wallet.

 

Other Types of Orders


 

Among the types of orders are the Limit and Stop orders, in these the client imposes conditions with respect to the market price so that they are processed, once these conditions are met they are processed instantly.

 

 

Limit:

This type of order will allow you to buy or sell at a price that you have previously established, this order will remain active until the estimated price reaches the amount you have established in that case it will be executed if there are similar orders, or until it is canceled.





 

  Stop (Stop-Market): 

This type of conditional order of purchase or sale gives the command to the system that when reaching a specific amount an order is generated at the market price taking it automatically from the order book.







 Advanced Orders:

 

There is the possibility to generate some more advanced order types that can be found by pressing at the bottom of the order menu by clicking on the "Advanced Orders" link  :

 

 

Stop-Limit: 

 

This is a conditional order, either buy or sell, where the client places a rule on a specific price, upon reaching the established price the order becomes a limit order to buy or sell at the specific limit price set by the client.

 

Trailing Stop Market:  

 

It applies to orders that set the stop price of an instrument at a price with a fixed compensation relative to the market price. If the market moves and the stop price is reached, the order becomes a market order.

 

 

Order Trailing Stop Limit: 

 

It applies to orders that recalculate the holding price of an instrument on a fixed shift relative to the market price. The limit price is recalculated based on a different fixed compensation. If the market reaches the stop price, the order becomes a limit order.

 

 

Fill or Kill:  

This condition causes the order to be fully fulfilled or cancelled if there is no possibility of this being realized.



 

Immediate or Cancel:  

This condition causes the order to be executed instantly or canceled if there is no other order with which the same can be executed.

 

Reserve Order:  

 

This type of order will show in the order book only a fraction of the actual complete order, the amount that will be shown is decided by the client at the time of generating it.

*Although orders can be canceled after being issued by the client, the client must be attentive when placing them since it is their responsibility after they are executed on the Platform.