Most likely, you have already read the information about the types of orders on WhiteBIT. However, there are two more functions in the Limit order interface that are worth paying attention to - the Post only and IOC toggles. In this article, we will try to analyse their features as briefly as possible.
It's very simple. Post only and IOC are a few more order types implemented on our platform in the form of convenient switches and used only in combination with a limit order.
These options allow you to improve the efficiency of your trading strategies and manage risks. Let's have a closer look at how exactly.
This toggle ensures that the limit order is 100% placed in the order book and executed as a maker. (The user pays the maker's fee accordingly.)
Please note that if an order cannot be added to the order book, it will be automatically cancelled. The relevant information is indicated in the tooltip that appears when you hover over the toggle.
This switch will be useful for those who have more favourable conditions for maker fees and want to guarantee the execution of an order with a maker role when trading on the market.
We would like to remind you that favourable conditions for makers can be obtained by Holding WBT. You can read more about the terms and conditions on this page.
Immediate-Or-Cancel. Orders with this parameter are not placed in the order book. The user always pays the taker's fee. When this option is activated, all or part of the order is requested to be executed immediately (taking into account the more favourable price), and any unfilled parts of the order are cancelled automatically.
Please note: a limit order with the IOC parameter will never be included in the order book, it must either be executed/partially executed or cancelled (fully or partially).
Questions you may have
I still don't get the difference between Post only and IOC
In short, Post only and IOC are complete opposites. For your convenience, here is a comparison table with the key differences.
|Guaranteed to be placed in the order book
|Never placed in the order book
|Executed as a maker
|Executed as a taker
|Automatically cancelled only when it cannot be added to the order book for some reason
|Executed immediately or cancelled automatically
Are these toggles available in the app?
Yes. On the trading page, select the pair and limit order you need and open the drop-down list by clicking on the "Advanced" option
Can I use Post only and IOC with other orders?
These options are available only for limit orders. You can also find the Post only switch in the Multi-Limit order interface, which is a type of the same limit order.
If you have any questions related to Post only and IOC, you can: