Time-In-Force (TIF) plays a crucial role in determining how long an order remains active before it is executed or canceled.
The following are the 3 most common TIFs that exchanges are using:
- GTC (Good Till Cancel):
Remains active until it is either fully executed or canceled manually.
This is commonly seen in maker limit orders, where the order is submitted to increase the liquidity of the order book. - IOC (Immediate Or Cancel):
This order requires immediate execution at the limit price or better. If the order cannot be fully executed immediately, any remaining portion will be cancelled.
This is commonly seen in market orders or taker limit orders, where the order is submitted to take liquidity out of the order book. - Fill-Or-Kill (FOK):
FOK orders are designed to execute in full immediately upon placement. If the order cannot the entire quantity, it will be cancelled entirely.
This is commonly seen in market orders or taker limit orders, where the order is submitted to take liquidity out of the order book.
In Flipster, Market Orders and Trigger Market Orders follow the IOC (Immediate-Or-Cancel) execution method, meaning they will execute immediately at the best available price and any unfilled portion will be canceled.
Limit Orders, on the other hand, use GTC (Good-Till-Cancelled), meaning they remain active in the order book until they are fully filled or manually canceled by the user.
Risk Warning:
Trading in cryptocurrency involves risk and potential losses. Before trading, please make your investment decisions cautiously by considering your investment objectives, experience, and risk tolerance. You are solely responsible for your investment decisions, and Flipster is not liable for any losses you may incur. Derivatives trading, in particular, is subject to high market risk and price volatility. Please obtain independent advice where appropriate. This information should not be construed as financial or investment advice.