There are 5 types of trading orders available on WhiteBIT Georgia — Market, Limit, Multi-Limit, Stop-Limit and Stop-Market. Each of them has its own advantages and ways of application.

Market Order

Market order is a type of order to buy or sell an asset at the current market price.   

A market order guarantees instant execution, but for this reason does not guarantee a specific execution price.

When placing a market order, you only need to specify the quantity of assets you wish to buy or sell, without specifying a price. The order will be executed immediately at the best available price in the order book.

Features:

Instantaneous and guaranteed execution;
No ability to predict the exact execution price of the order.

Please note: Execution price may vary from the expected price, especially in fast changing market prices and high volume trades.

Limit Order

Limit order allows you to buy or sell an asset at a fixed price, however, it will not be executed instantly, but only when a matching order appears (in the order book) to buy or sell funds at the price you specify.

When placing a limit order, you specify the price at which you wish to buy or sell the asset and its quantity. A buy limit order is executed only if the market price reaches the specified level.

Features:

• Execution of the order at a fixed price;
• BBO (Best-bid-offer) function, which helps in setting order prices to match the best current market rates;
• The need for matching bids to execute the order.

Please note: the amount of funds specified in the order is charged from your trading balance and reserved in the order when placing a limit order.

Multi-Limit Order

Allows to create a grid of limit orders to buy or sell an asset, set the upper and lower price limits in the grid, the number of orders (from 2 to 15), and choose between arithmetic and geometric progression to form the price of each order in the specified range.  

You can view the details of each order before placing it in the modal window. Once confirmed, each limit order created in Multi-Limit mode will be displayed in the "Multi-Limits" section in the lower section of the trading terminal. If you wish, you can cancel one or more orders of the grid and it will not affect other orders.

For more information about Multi-Limit order, please refer to this article.

Features:

Ability to create grids containing up to 15 orders, with a choice between geometric or arithmetic progression to form order prices.

Please note: Multi-Limit order is currently only available on the Spot Market.

Stop Оrders

Stop-market and stop-limit orders are the same as market and limit orders, but have an additional parameter — “stop price”.

Stop price is a price level that is set and used to minimize the risk of loss or profit.

A stop-market order is triggered when the market price reaches your predetermined price (stop price). This type of order is often used to prevent losses when the market price is volatile.

A Stop-limit order is also triggered when the market price reaches your predetermined price (stop price), after which the order is executed as a normal limit order.

Features:

Once the stop price is reached, a regular market or limit order is executed.

Support

In case of any questions related to the functionality of our exchange, you can:

• Leave a request on our website;
• Write to the support email: support@whitebit.ge;
• Write to the chat using the button in the lower right corner of the screen (in the upper right corner of the WhiteBIT Georgia app, click ).