DIFFERENT TYPES OF ORDERS
By CoinTradeUp Team
published in August 06, 2024
CoinTradeUp lets you virtually buy and sell cryptocurrencies without any fees or risks. Learn to master long positions, short selling, and leverage, all while benefiting from real market conditions. Test different strategies, develop your expertise, and gain confidence before investing for real.
CoinTradeUp offers the possibility to virtually trade 240 cryptocurrencies.
These are the exchangeable products available on the COINBASE trading platform (https://www.coinbase.com/explore).
These are the exchangeable products available on the COINBASE trading platform (https://www.coinbase.com/explore).
The real-time quotes are expressed in euros. However, some cryptocurrencies from COINBASE are not quoted in euros. In this case, CoinTradeUp automatically converts the cryptocurrency to euros in real time (1) based on a conversion service (https://www.currency.com).
To provide real-time cryptocurrency quotes in euros, CoinTradeUp relies on three services:
- Coinbase.com
- Coingecko.com
- Currency.com
COINBASE is primarily used to provide real-time quotes for products. In case of unavailability, COINGECKO is used as a backup.
Order Placement Rules
There is no consideration of the order book. To simplify the simulation, CoinTradeUp virtually executes orders (whether at market price, limit orders, stop orders, etc.) without checking for the presence of a corresponding order in the order book.
Therefore, virtual buy or sell orders will always be executed as soon as the set price is reached.
There is no consideration of the order book. To simplify the simulation, CoinTradeUp virtually executes orders (whether at market price, limit orders, stop orders, etc.) without checking for the presence of a corresponding order in the order book.
Therefore, virtual buy or sell orders will always be executed as soon as the set price is reached.
Market Orders:
- The order is placed instantly after submission, at the price recorded at the time of submission.
Limit Orders:
- The order is executed at the set limit price as soon as the price crosses the limit. A maximum delay of 5 seconds may occur, meaning that if a cryptocurrency crosses a set limit for the execution of an order and then reverses within less than 5 seconds, the order may not be executed.
Stop Orders:
- The order is executed at the market price as soon as the price crosses the set threshold. A maximum delay of 5 seconds may occur, meaning that if a cryptocurrency crosses a set threshold for the execution of an order and then reverses within less than 5 seconds, the order may not be executed.
Stop-limit Orders:
- The order is executed as soon as the price crosses the set threshold. There are two possibilities for order execution:
- If the cryptocurrency price is between the threshold and the limit, the order will be executed at the market price.
- If the price crosses the set limit, the order will be executed at the limit price.
A maximum delay of 5 seconds may occur, meaning that if a cryptocurrency crosses a set threshold for the execution of an order and then reverses within less than 5 seconds, the order may not be executed.
Happy Trading!
(1): USD/EUR cotation is updated every 30 minutes
(2): order available with the TRADER pack
(3): CoinTradeUp makes every effort to minimize this delay.
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