Order Types

Alpha supports 6 different types of orders

Conventional Orders

Limit Order

A limit order is an order to buy or sell with a restriction on the maximum price to be paid or the minimum price to be received (the “limit price”). If the order is filled, it will only be at the specified limit price or better.

Market

A market order is an instruction to buy or sell immediately at the current price.

Algo Orders

Stop Market

A stop market order is an order to buy or sell if the market price hits a set value. It is a type of stop-loss order that is meant to limit the amount of money you can lose on a single trade.

Reduce Only

Reduce-only orders allow traders to execute buy or sell orders which only reduce a current position, as opposed to opening an opposite long or short worth more than the existing value of your assets, letting you trade without the risk of over-exposing your positions.

Post Only

Post-only Mode means that Traders can only place an Order if it would be posted to the Order Book as a Maker Order. An Order which would be posted as a Taker Order will be rejected. No Market Orders may be placed and no Orders will be filled. Resting orders may be cancelled in post-only mode.

Market Only

Market-only Mode means that Traders place an order to the Order Book as a Market Order. Regardless of what price it has been submitted at.