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Types of Order on MEXC Futures

Jun 8, 2020

#FAQ#Beginner's Guide#Futures

Limit Order Limit orders allow the trader to set a specific buying or selling price, and the order will be filled at the order price or at a price more favorable than the order price. When a limit order is submitted, if there is no order of which price is more favorable than or equal to the order price available for matching in the order book, the limit order will enter the order book to be filled, increasing the market depth. After the order is filled, the trader will be charged according to the more favorable maker fee. When a limit order is submitted, if an order of which price is more favorable than or equal to the order price is already available for matching in the order book, the limit order will be immediately filled at the current best available price. Because of the liquidity consumed during the order execution, a certain trading fee will be charged as the Taker fee expense. In addition, limit orders can also be used to partially or fully close a take profit limit order. The advantage of a limit order is that it is guaranteed to be filled at the specified price, but there also exists a risk that the order will not be filled. When using a limit order, the user can also switch the effective time type of the order according to their trading needs, and the default is GTC: - GTC (Good ‘Til Canceled Order): This type of order will remain valid until it is fully filled or canceled. - IOC (Immediate or Cancel Order): If this type of order cannot be filled immediately at the specified price, the unfilled part will be canceled. - FOK (Fill or Kill Order): This type of order will be canceled immediately if all orders cannot be filled. Market Order The market order will be filled at the best price available in the order book at the time. The order can be quickly filled without having the trader set the price. The market order guarantees the execution of orders but not the execution price, as it may fluctuate depending on market conditions. Market orders are typically used when a trader needs to make a quick entry to capture a market trend. Trigger Limit Order If the trigger price is set, when the benchmark price (market price, index price, fair price) selected by the user reaches the trigger price, it will be triggered, and a limit order will be placed at the order price and quantity set by the user. Stop Market Order If the trigger price is set, when the benchmark price (market price, index price, fair price) selected by the user reaches the trigger price, it will be triggered, and a market order will be placed with the quantity set by the user. Note: The user's funds or positions will not be locked when setting the trigger. The trigger may fail due to high market volatility, price restrictions, position limits, insufficient collateral assets, insufficient closeable volume, futures in non-trading status, system issues, etc. A successful trigger limit order is the same as a normal limit order, and it may not be executed. Unexecuted limit orders will be displayed in active orders. Trailing Stop Order A trailing stop order is a strategy order for tracking market prices, and its trigger price may change with latest market fluctuations. Trigger price calculation: Sell, Actual Trigger Price = Market's Historically Highest Price - Trail Variance (Price Gap), Or Market's Historically Highest Price * (1 - Trail Variance %) Buy, Actual Trigger Price = Market's Historically Lowest Price + Trail Variance, Or Market's Historically Lowest Price * (1 + Trail Variance %) Trailing orders allow users to select an activation price for the order, and the system will start calculating the trigger price only after the order is activated. Identification for Trailing Stop Order Trail variance: The trail variance is the main condition for calculating the actual trigger price. The actual trigger price will be calculated based on the highest/lowest price of the specified price type after the order activation and the trail variance. Quantity: The number of orders placed. Price type: You can select the last transaction price, fair price or index price as the criteria to activate and trigger trailing orders. Activation price: Activation price is the activation condition of a trailing order. When the price of the specified price type reaches or exceeds the activation price, the order will be activated. The system will only start calculating the actual trigger price upon activation. If the activation price is not defined, the order will be activated upon placement. For example: Case 1 (Sell the rip): The user wants to sell BTC without selecting the activation price (i.e. activate as soon as the order is placed) and the last transaction price is 30,000 USDT. Then, one may set the parameters as follows. [Trail Variance - Price Gap] 2,000 USDT [Quantity] 1 BTC [Price Type] Last Transaction Price In the event where the BTC price keeps increasing to the highest point of 40,000 USDT after the order is placed, and then retraces to 38,000 USDT, reaching the retracement condition (40,000 USDT - 2,000 USDT = 38,000 USDT), the system decides for the user to sell at the market price at 38,000 USDT. Case 2 (Buy the dip): The user wants to buy BTC and the last transaction price is currently 40,000 USDT. Then one may set the parameters as follows. [Trail Variance - Ratio] 5% [Activation Price] 30,000 USDT [Quantity] 1 BTC [Price Type] Last Transaction Price In the event where the BTC price keeps falling to 30,000 USDT after the order is placed, the trailing is activated, it then falls all the way to 20,000 USDT and bounces back to 20,000 USDT * (1 + 5%) = 21,000 USDT, reaching the retracement condition (5%), the system decides for the user to buy at the market price at 21,000 USDT. Post Only Post-only orders will not be filled in the market immediately, which ensures that the user is always a maker and enjoys the yield of the trading fee as a liquidity provider; at the same time, if the order is filled with an existing order, then the order will be canceled immediately. TP/SL TP/SL refers to the pre-set trigger price (take profit price or stop loss price) and trigger price type. When the last price of the specified trigger price type reaches the pre-set trigger price, the system will place a close market order according to the pre-set quantity in order to take profit or stop loss. Currently, there are two ways to place a stop loss order: <ol> <li style="font-weight: 400;" aria-level="1">Set TP/SL when opening a position: This means to set TP/SL in advance for a position that is about to be opened. When the user places an order to open a position, they can click to set a TP/SL order at the same time. When the open position order is filled (partially or fully), the system will immediately place a TP/SL order with the trigger price and trigger price type pre-set by the user. (This can be viewed in open orders under TP/SL.)</li> </ol> <ol> <li style="font-weight: 400;" aria-level="1">Set TP/SL when holding a position: Users can set a TP/SL order for a specified position when holding a position. After the setting is complete, when the last price of the specified trigger price type meets the trigger condition, the system will place a close market order according to the quantity set in advance.</li> </ol>

What is Stop-Limit Order?

Dec 27, 2019

#Beginner's Guide

"Stop-Limit" order is a kind of pre-set order that users are able to pre-set stop price, limit price, and buy/sell amount. When the latest trading price reaches the stop price, the system will automatically place the order at the limit price to order book.Definition Stop price: Upon the latest traded price reaching the stop price, the pre-set order will be executed. Limit price: The price that the user enters to buy/sell the cryptocurrency. Amount: The amount that the user enters to buy/sell the cryptocurrency. For Example: The market price of BTC is now lower than 45,000 USDT. A user believes the price of 43,000 USDT is an important resistant position. If the market price breaks 45,000 USDT mark, there will be a bullish trend. Therefore, the user could set the stop price at 43,000 USDT and limit the price at 45,200 USDT. This function exempts users from physically observing the market all 24 hours.Note: If the price experience high volatility, the stop-limit order may fail to be concluded.How to place stop-limit order? Place order: Select "Stop-Limit", set the Stop price at 40,000 USDT and Limit price at 396.3 USDT and the amount of 0.00998 and click "Buy BTC". <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230546576lpfQzmG8ziSmqR.png" alt="Screenshot_2021-08-20_at_9.24.29_PM.png" style="max-width:100%;height:auto" />Order review: After the order being placed, you can check the order record under "Stop-Limit". <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230548062ELT2Q0DNKvWBXW.png" alt="Screenshot_2021-08-20_at_9.25.37_PM.png" style="max-width:100%;height:auto" />History record: After the stop-limit order is concluded or cancelled, you can check history records at "Orders" >"Spot" > "Stop-limit". <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230549577O7OpCXsvRyUGu5.png" alt="Screenshot_2021-08-20_at_9.30.45_PM.png" style="max-width:100%;height:auto" />

How to Join PoS?

Aug 16, 2019

#Beginner's Guide

Step 1: Login > My Asset <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F202304282306578905GxOiZYGFzmCGn.png" alt="mceclip0.png" style="max-width:100%;height:auto" />Step 2: Choose the currency available for “PoS” and click “Join PoS”Note: Now DASH, VSYS, ZEL, PCX, IMG and BHD are now first included in the PoS program. (More currencies will be included at a later stage.) <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230659397amJUhKod2vPzyC.png" alt="mceclip1.png" style="max-width:100%;height:auto" />Step 3: After you click “Join PoS”, a popup will tell you the minimum amount required for PoS, estimated yearly staking yield rate, etc., please read it carefully. If you agree, tick the box and click “Confirm”.Note: Please ensure your minimum holding≥minimum amount required for PoS. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230700794VWfzgUr6ppxUwJ.png" alt="mceclip2.png" style="max-width:100%;height:auto" />Step 4: After click “Confirm”, you join the PoS program successfully. If you want to check your income, you can go to “Fund Record”>”Mine pool income”. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230702221vYjlMjMO7ZzVKv.png" alt="mceclip3.png" style="max-width:100%;height:auto" /> Note: 1. The specific yield rate and yield distribution time are subject to the rules in the popup when you click “Join PoS”.2. Take “your earnings will start to be counted 2 days after you join PoS” as an example. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230703738vjpbPRJnNCZG01.png" alt="mceclip5.png" style="max-width:100%;height:auto" />3. You can quit PoS at any time by click “Quit PoS”. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230705111EwX7aPxL8UzAHc.png" alt="mceclip4.png" style="max-width:100%;height:auto" />Note:1. The estimated yearly staking yield rate is about to be adjusted according to the real earnings of the staking pool.2. Your holdings will be recorded several times each day, and the minimum holding will be used to count your earning.3. Trade/withdrawal of the currency that you join PoS is available at any time. i.e. the asset when you join the PoS program is not locked.4. If the recorded amount of your holding is less than the minimum amount required by PoS program, it then quits automatically.

How to Set Anti-phishing Code?

Aug 6, 2019

#Beginner's Guide

Step 1: Login> “User Center”. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230730899wSF6Ic35QybPRh.png" alt="mceclip0.png" style="max-width:100%;height:auto" />Step 2: Click “Anti-phishing code”. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F202304282307322726PdCgI2GCkUenM.png" alt="mceclip1.png" style="max-width:100%;height:auto" />Step 3: Create your anti-phishing code. (Numbers, characters, or combination of numbers and characters) <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230733682WIRa2DjkNdKb8G.png" alt="mceclip2.png" style="max-width:100%;height:auto" />Step 4: When you receive an email, please check whether there is the anti-phishing code you have set on the upper side of the email.If not, it is not an official email sent by MEXC. <img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20230428230735033BpGs7moyTHcU05.png" alt="mceclip3.png" style="max-width:100%;height:auto" />

New User Guide for Depositing on the App

Jul 9, 2019

#Beginner's Guide

<div style="font-style:normal;font-weight:400;letter-spacing:normal;text-indent:0px;text-transform:none;white-space:normal;word-spacing:0px;text-decoration:none;color:rgb( 0 , 0 , 0 )"><div class="ace-line ace-line old-record-id-ZTgYddz0aocR1FxTPDXuphYgsmv">1. Open the MEXC app and click on [Wallets] - [Spot] - [Deposit].</div><div class="ace-line ace-line old-record-id-JYI0d8G7WodeAXxdewJu9LCOsxf"> </div><div class="image-uploaded gallery old-record-id-Od3sd74Pcok4JxxbqpAuNyRIsMg" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F202310131834268533wKlwQDkynAL6j.png" width="380" /></div><div class="ace-line ace-line old-record-id-TTrsduBbKoPfSBx06PeuDTz9sjh"> </div><div class="ace-line ace-line old-record-id-XYFHdACbxoFLVsxVSK2uviwds6b">2. After the page redirects, please select the crypto you want to deposit. You can search for your crypto here, too. In this example, we will use "USDT".</div><div class="ace-line ace-line old-record-id-Rtk6dPlX1opE55xY7ApuznRJsWg"> </div><div class="image-uploaded gallery old-record-id-QxXHdDlz7oDbPZxw0N5u61H4s4c" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183426982XMWdiInBDS7bLT.png" width="380" /></div><div class="ace-line ace-line old-record-id-YCQ1doMCdoI57rxGSs1uplnjsuc"> </div><div class="ace-line ace-line old-record-id-UcRddAlNEoV4XYxcdP6utuG5sod"> </div><div class="ace-line ace-line old-record-id-LVtQdfN20odEJ0xdQvJuobHes3f">3. After entering the deposit page, please select the transfer network. In this example, we will use "SOL" as the network. Once you select the network, the deposit address and QR code will be displayed.</div><div class="ace-line ace-line old-record-id-IeXTdYh8ZoWeoyxKc6QuLOJ1s28"> </div><div class="ace-line ace-line old-record-id-Bvjhdd0QwocJYaxZc8nuQvQOsde">*When you select the transfer network, please make sure that the chosen network matches the withdrawal platform's network. For example, if you select the ERC20 network on MEXC, you should also choose the ERC20 network for withdrawals on the withdrawal platform. Selecting the wrong network can result in a loss of funds.</div><div class="ace-line ace-line old-record-id-CC3OdRZjSovkaLxpQYguSJmRsph">*Before proceeding, you also need to verify the token contract address. Please make sure that the asset contract address you are depositing matches the token contract address supported by MEXC. Otherwise, your assets may be lost. To check the complete contract address, you can click on the end of the crypto's contract address to view the full address.</div><div class="ace-line ace-line old-record-id-MAVndUgR4o0xpDxllTNug859sTc"> </div><div class="image-uploaded gallery" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F202310131834271334PZ6PLRNidNFmE.png" class=" old-record-id-U6bxdhkJLopOaJxjABgu4xZ3sOd" width="335" /><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183427372XQGVOuorjCMtFK.png" class=" old-record-id-MbmydmMevopYv4xIq2bulZGXs9c" width="344" /></div><div class="ace-line ace-line old-record-id-HgWMdTelfonpLixt4eJu4t0LsWc"> </div><div class=" old-record-id-JfhOdNxxto9jUoxPvRyu0mOOsic"> </div><div class="ace-line ace-line old-record-id-UElRdasSwo8j10x9xtzuOBcPs7e"> </div><div class="ace-line ace-line old-record-id-XjDKd0FYGoYGHSxfoVtuM4bsskd">If you have never received a deposit address before, please click on [Tap to generate address] to obtain the token deposit address for the corresponding network.</div><div class="ace-line ace-line old-record-id-Qpb0d58G1ooSA8xuZf4uYUhbs0f"> </div><div class="image-uploaded gallery old-record-id-TigddYHIdo309yxrLNwuYETTs2d" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183427204oqMJO4jCe7glbv.png" width="380" /></div><div class="image-uploaded gallery old-record-id-THiSdBWojo5so8xJdeVuKi2Hs5e" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183427086QjioPimDtxBcm8.png" width="382" /></div><div class="ace-line ace-line old-record-id-LpOZdDj1ZovZ7Jxgl7CuonP6ssd"> </div><div class="ace-line ace-line old-record-id-B0LLdzPOVoaM7IxSyqruBGxPsGf">4. Please click the copy icon button or scan the QR code to input your deposit address into the withdrawal address field on the withdrawal platform. Follow the withdrawal platform's requirements to initiate the withdrawal request.</div><div class="ace-line ace-line old-record-id-L7GQdeACfoYViuxkaJTuJpQLsOc"> </div><div class="image-uploaded gallery old-record-id-FJEAdSB5WoQO4rxcj7LuMMZbsof" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183427450uADBCeRH49HLS2.png" width="380" /></div><div class="ace-line ace-line old-record-id-CEdkdI2kXo20eOxB15pudr03sJf"> </div><div class="ace-line ace-line old-record-id-FI8HdjVoJo0QzDxdtf2uT4Ihsrb">5. After initiating the withdrawal request, the token deposit requires blockchain confirmations. Once the blocks are successfully confirmed, the deposit will be credited to your account. Please check your Spot account.</div><div class="ace-line ace-line old-record-id-Y4bFdzWG8o67JAxrpdGu1G07sIh"> </div><div class="ace-line ace-line old-record-id-G8YSdjnAWoEL8vxaNcMuEVIHsBc">You can also click the Notepad icon button in the upper right corner of the deposit interface to view your historical deposit records.</div><div class="ace-line ace-line old-record-id-XaLndaHIao9kNoxK0OHugJfesDc"> </div><div class="image-uploaded gallery old-record-id-U3lIdipQJoastXxiaUwuU6MMsPh" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183427421bXYbOfFWRBERJT.png" width="379" /></div><div class="ace-line ace-line old-record-id-EDlIdMxAEoayrJx3swUuF8xgsjh"> </div><div class="ace-line ace-line old-record-id-GgNgd1LdGo2703x6ABPuY94SsYb">Reminder:</div><div class="ace-line ace-line old-record-id-GSTLdhWS1oEtNwxIzhQuqFbAssh">Some tokens and networks, such as USDT-EOS, require users to fill in both the address and MEMO fields simultaneously. When you see this prompt, please make sure you have entered both of these fields. Otherwise, your deposit funds may be lost!</div><div class="ace-line ace-line old-record-id-JqEudKosJokmiHxAz1AulEajsuc"> </div><div class="image-uploaded gallery old-record-id-IFWPdaEE3oedJUx85EDuPWNUs1e" style="text-align:center"><img src="https://mexc-rainbown-activityimages.s3.ap-northeast-1.amazonaws.com/banner/F20231013183427700p3o3OayRkpp7GM.png" width="379" /></div><div class="ace-line ace-line old-record-id-Z42BdryFTofuyOxcKlMuBSAEsyq"> </div><div class="ace-line ace-line old-record-id-FSPndTjoFon8BxxRRzKunZDNsZe"> </div><h3 class="heading-3 ace-line old-record-id-AGLMduNtjoznLCxpVnhueFCasHd">Things To Note When Depositing:</h3><ul class="list-bullet1"><li class="ace-line ace-line old-record-id-OAgrd6QVdoHphnxzkKku0hfvssh"><div>Please select the crypto/chain correctly, or your assets may be lost.</div></li><li class="ace-line ace-line old-record-id-RhaodLRXkoknaJxrXALu5nOZsQm"><div>Please note that some cryptocurrencies have a minimum deposit amount. If your deposit amount is below the minimum, your assets will not be credited, and refunds may not be possible.</div></li><li class="ace-line ace-line old-record-id-ZowrdPAEAokq6uxpDHeupqB2sFd"><div>Once your deposit is initiated, it requires confirmations from the entire network node. The time required for the confirmations may vary depending on the current traffic on the blockchain and its network. Please verify the deposit address before each deposit, as a small percentage of tokens may change their deposit address due to upgrades or contract address changes.</div></li></ul></div>