Trigger orders are an option to create orders according to a previously set condition of the market. The difference from normal orders is that it won’t be executed immediately. It will wait until the condition is met, then it will be submitted as an order to be executed. What this means is that after you create a trigger order, it will wait until the condition is met and will not immediately be part of the market’s depth.
The advantage is that after you have set up the trigger, and the condition is met, you can immediately have your order submitted and not have to do it manually. You can also set up trigger orders to prevent further losses. You can at the same time use trigger orders to close your position to hold your profits when reaching a certain price.
How to create a trigger order?
Choose a type of order when creating an order
Open a trigger order position
Choose Open position -> Trigger order
Choose Close position -> Trigger order
Enter the trigger price, position price, and contract amount, etc.
There are 3 options: the latest transaction price, fair price, index price. If you set it as index price, then when the index price reaches your setting it will submit your order. Trigger price can be set in Settings.
When the condition is met, execute the order with this price. It may be set to a limit order price or market order.
When the condition is met, execute the order with this contract amount. If the funds in the account are lower than set, then the insufficient amount will be canceled.
The default waiting period for trigger orders is 7 days. This can be changed in [Settings].
After setting up and submitted the trigger order, you may view it in the trigger orders section, and in trigger order history to view previous trigger orders.
Note: Please make sure your account funds are sufficient or trigger orders that may fail to execute when the conditions are met.
Q: Are there additional fees for placing trigger orders?
A: Placing a trigger order does not charge any fees. The actual fees are subject to the transaction at that time.