Introduction to MGBX Futures Order Types

A Limit Order allows you to specify an order price. Buy orders are executed at the limit price or lower, while sell orders are executed at the limit price or higher. This order type is more suitable for scenarios where you have specific price requirements.

 

How to Use: Select 「Limit Order」, enter the order price and quantity, verify the order direction and margin requirements, and then submit the order.

 

Example: If the current price is approximately 60,000 USDT, you can place a limit buy order at 59,000 USDT. The order may only be filled when sell orders meeting the price and matching conditions are available. If the market has not reached the specified conditions, the order will remain pending.

 

Note: A limit order does not guarantee execution and may be partially filled. If the quoted price can be matched immediately with existing orders in the order book, the limit order may be executed immediately and act as a Taker order.

A Market Order is matched against currently available prices in the order book. You do not need to enter an execution price manually, making this order type suitable for scenarios where execution speed is the priority.

How to Use: Navigate to the futures trading page, confirm the trading pair and whether you are opening or closing a position, select 「Market Order」, enter the quantity or margin as required by the page, verify the details, and submit the order.

 

Example: If the latest price is 60,000 USDT, you submit a market buy order. The order may be filled against multiple sell orders at prices such as 60,001 USDT, 60,002 USDT, and so on. The final average execution price will be based on the price shown in the trade history.

 

Note: A market order does not guarantee execution at the latest price displayed when the order is placed. Factors such as order book depth, price protection mechanisms, and trading restrictions may affect the execution price range and outcome.
 

A Trigger Order allows you to set trigger conditions in advance. Once the specified conditions are met, the system submits an order based on the preset parameters. According to MGBX's existing rules, a Trigger Order is activated when the latest price reaches the trigger price. The actual trigger conditions and execution methods available are subject to the options displayed on the trading page.

 

How to Use: Select 「Trigger Order」,enter the trigger price, order price, quantity, and other required parameters, verify the order direction, and submit. You can then check the order status in the Trigger Orders section.

 

Example: Suppose you want to submit a limit buy order at 61,050 USDT once the price reaches 61,000 USDT. In this case, 61,000 USDT is the trigger price, and 61,050 USDT is the order price. Once triggered, whether the order is filled still depends on the limit price and order book conditions.

 

Note: Trigger Orders do not occupy margin before they are triggered. However, this does not guarantee that an order can be successfully placed after triggering. If the available margin is insufficient, the order exceeds applicable limits, or other trading requirements are not met at the time of triggering, the order may fail to be submitted or executed.

• Market Order: Prioritizes execution speed while accepting price differences resulting from actual order book conditions.

• Limit Order: Sets an acceptable price boundary while allowing for the possibility of waiting, partial execution, or non-execution.

• Trigger Order: Waits for the specified trigger conditions to be met before submitting an execution order. Both the triggering and execution stages should be taken into consideration.

 

After submitting an order, check its status in the Current Orders or Trigger Orders section. Any unfilled portion can be canceled if cancellation is supported by the page. Portions that have already been filled will create or modify a position and cannot be reversed by canceling the remaining order. Order history can be used to verify submission status, while trade history provides details of the actual execution results.

Before submitting any order, verify the trading pair, order direction, Cross or Isolated Margin mode, leverage, price, and quantity. The specific order types available, applicable limits, and price precision are subject to the current trading page.