Different order types and their usage
Last revision: Jan 31, 2019Market order
Market order means you want to buy/sell a cryptocurrency at current market price and as fast as possible. If you place a market buy or sell order on Friday 19:00 GMT +2, most likely it will be processed on Saturday. Choosing market order means we will process your order in maximum 24 hours.
If a market order is placed we immediately go to the biggest cryptocurrency markets and fulfill it. When the order is fulfilled we will send an email with the details of the purchase and your current balance. Market orders are more likely to be processed at higher prices comparing to Limit and Based on Time orders.
Limit order
This order allows you to set your own price for the cryptocurrency. Once the market reaches your set price you will receive a confirmation of your order being completed. If the market does not reach the price it will be in a pending order list until you cancel it. Orders might get filled outside of working hours, because we leave them on the order books at your chosen prices and we can not know in advance when exactly the order gets filled.
Based on Time order
If you are not in a hurry and you trust Kaiserex's trading skills, you can set a timeframe for us to process your order. For example, if the execution time is set to 2 weeks(default setting), we evaluate the market conditions and choose a strategy to buy or sell cryptocurrencies at a better price. If market feels really bullish we will be more likely to fulfill the order faster. If market looks bearish, we will set up algorithms to acquire cryptocurrencies slowly at lower prices and vice versa for selling. If the order size is higher we may use our connections to do OTC (over the counter) deals. This means that we will contact individuals or companies who hold larger amounts of various cryptocurrencies and deal with them directly in order to prevent market price inflation and achieve better prices for our clients.
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