Immediate-or-Cancel Order

What is an Immediate-or-Cancel Order An Immediate or cancel (IOC) order is a type of order where the trader wants to buy or sell a specific asset at the current market price or better. This type of order requires that the order be filled immediately in its entirety; if not, the remaining unfilled portion of the order gets canceled. This type of order is particularly useful for traders who need to execute a trade quickly and do not want to risk the order being filled at a worse price than intended, or if the trader only wants to fill a portion of the order and the rest can be canceled. It is also commonly used in high-frequency trading strategies, where time is of the essence, and traders need to quickly take advantage of market fluctuations.

To place a Post-Only Order

Step 1: Connect your wallet

Step 2: Select the cryptocurrency or asset you wish to trade, and choose ‘Limit Order’ from the order types available

Step 3: Toggle on ‘IOC’ on the right-hand side of the limit order box

Step 4: Enter the price at which you wish to buy or sell the asset in the Limit price field

Step 5: Enter the amount of the asset you wish to trade in the amount field. You may use the slider tool to choose what percentage of your holdings you want to trade

Step 6: Review your order details and confirm the limit order to complete the process