Overview
BKG Exchange supports different order types for spot trading. The two most commonly used order types are Limit Orders and Market Orders.
Understanding the difference between these two order types can help you choose the appropriate method based on your trading needs.
Spot Trading Fees
At BKG Exchange, the trading fee is 0.12% for both Makers and Takers.
- Maker Fee: 0.12%
- Taker Fee: 0.12%
Fees are calculated based on the executed trading amount.
1. What Is a Limit Order?
A Limit Order allows you to specify the price at which you want to buy or sell an asset.
The order will only be executed when the market reaches your specified price and there is sufficient matching liquidity.
Example
If BTC is currently trading at 100,000 USDT and you want to buy BTC at 98,000 USDT:
- Select Limit Order
- Enter the price: 98,000 USDT
- Enter the amount of BTC you want to buy
- Submit the order
The order will remain open until it is fully filled, canceled, or otherwise handled according to the platform's order rules.
A Limit Order may not be executed if the market does not reach your specified price or there is insufficient liquidity.
2. What Is a Market Order?
A Market Order allows you to buy or sell an asset at the best available market price at the time the order is placed.
You do not need to specify an execution price.
Example
If you want to buy BTC immediately:
- Select Market Order
- Enter the amount you want to buy
- Submit the order
The system will attempt to execute the order using available orders in the market.
The final execution price may differ from the price displayed when you place the order, especially during periods of high volatility or low liquidity.
3. Limit Order vs. Market Order
| Feature | Limit Order | Market Order |
|---|---|---|
| Price | User specifies the price | Best available market price |
| Execution | Only when matching conditions are met | Attempts to execute immediately |
| Execution certainty | Not guaranteed | Depends on available liquidity |
| Price control | Higher | Lower |
| Suitable for | Users who want a specific price | Users who want to trade immediately |
4. Important Notes
- A Limit Order may remain unfilled if the market does not reach the specified price.
- A Market Order may be executed at multiple prices depending on available market liquidity.
- During periods of high market volatility, the actual execution price may differ from the displayed market price.
- A 0.12% trading fee applies to both Maker and Taker trades.
- Always check the trading pair, order price, and order quantity before submitting an order.
- Spot trading involves market risk. Make sure you understand the risks before trading.
FAQ
What is the spot trading fee at BKG Exchange?
BKG Exchange charges 0.12% for both Makers and Takers.
Can I cancel an unfilled Limit Order?
Yes. An open Limit Order can generally be canceled before it is fully executed.
Will a Limit Order always be executed at my specified price?
No. The order requires a matching counter-order at the specified price or better. If there is insufficient liquidity, the order may remain partially or fully unfilled.
Can I choose the execution price for a Market Order?
No. A Market Order is executed against available market liquidity at the time the order is placed.
Why can a Market Order be executed at different prices?
If there is insufficient liquidity at a single price, the order may be matched across multiple price levels.
Which order type should I use?
The appropriate order type depends on your trading requirements. A Limit Order provides more control over the execution price, while a Market Order is designed to prioritize execution using available market liquidity.