Slippage Tolerance on market orders
Cap how far from the current price a market order may fill.
A market order fills at whatever prices are available, so in a thin or fast market it can fill well away from the price you saw. Slippage Tolerance puts a limit on that.
How to use it
- Choose a Market order.
- Tick Slippage Tolerance and set a percentage (at least 0.1%).
- Submit. A buy will not pay more than the best ask plus that percentage; a sell will not accept less than the best bid minus it.
Market orders with slippage are executed as Limit orders with Time in Force set to IOC (Immediate or
Cancel). This means that after your order is filled, it will appear as a limit order in your order history
instead of a market order. If the order amount exceeds the available depth within the slippage tolerance,
the remaining unfilled portion is cancelled.
What you may see
- Filled — the whole order traded within your tolerance.
- Partly filled — part traded; the rest was cancelled because the price moved past your tolerance.
- Not filled — nothing traded and nothing was spent.
When it helps
On pairs with a thin order book, for large orders relative to the depth near the top of the book, and in fast markets.
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Related
- Spot trading basics How the Exchange works, and what happens when you place an order.
- Order types explained Limit, Market, Stop Limit, Stop Market and Trailing Stop — what each one does.
- Trailing stop orders A stop that follows the price and triggers when it reverses by your chosen percentage.
- Take Profit and Stop Loss (TP/SL) Attach a take-profit and a stop-loss to a limit order in one go.
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