When trading Crypto Futures on the Darico Futures platform, you will be able to execute different types of orders. This list includes Market Orders, Limit Orders, Stop Orders, and Advanced Limit Orders. While the first three orders are pretty straightforward, let’s go through the orders that you can place under the ‘Advanced Limit’ option.
The ‘Advanced Limit’ (Adv Lmt) orders are the type of orders that have additional conditions attached to them. On the Darico Futures trading Terminal, under ‘Adv Lmt,’ you get to trade the markets placing the following three different order types - Post Only, FOK, and IOC.
Post Only: It is a limit order type that only gets accepted if they don’t get executed immediately. The ‘Post Only’ Orders never take liquidity as they do not enter the order books. The purpose of this order is to only submit passive orders in order to earn the Maker rebate.
FOK (Fill or Kill Order): You must be placing FOK if you want your order to be executed immediately at the order price or at a price better than the order price. If this doesn't happen, the order will completely be cancelled. Meaning, partial filling of the orders are not allowed whatsoever.
IOC (Immediate Or Cancel Order): Place this order when you want it to be filled immediately at the order limit price or at a better price. The unfilled contracts will be cancelled if the order you placed cannot be filled immediately.