Market, Limit, and Stop-Loss Orders — Plain and Simple

You do not need a finance degree to trade. There are three order types. Each one does one job. This page explains all three in plain words.

Market order — trade right now

A market order buys or sells now, at the current price. You do not pick the price. You pick the amount.

Example: A coin costs $10. You place a market buy. You pay about $10 per coin. The trade settles right away.

Use a market order when speed matters more than the exact price.

Limit order — name your price and wait

A limit order lets you set your own price. The trade only happens if the market reaches it.

Example: A coin costs $10. You want to pay $9. You set a limit buy at $9. If the price falls to $9, your order fills. If it never falls, your order waits.

Use a limit order when the price matters more than speed. On OmniBazaar, limit orders sit on our own order book.

Stop-loss order — protect yourself

A stop-loss sells for you if the price drops. It limits how much you can lose.

Example: You buy a coin at $10. You set a stop-loss at $8. If the price falls to $8, your order sells automatically. Your loss is capped near $2 per coin instead of more.

Use a stop-loss to protect yourself from a big drop.

What do these cost?

On the OmniBazaar order book, the fee is small. If you take a price that is already there, you pay 0.20%. That is 20 cents on a $100 trade.

If you place a limit order that adds to the book, you get a small rebate of 0.05%. The market pays you a little for providing the price.

Market swaps route through UniversalSwap and carry a 0.25% interface fee instead. Limit orders stay on our own book at the rates above.

Start now

Open the app at app.omnibazaar.com — free, nothing to install. Try a limit order and watch it wait for your price.