Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-04-29 09:43:00

Binance Futures Relaunches Open Order Modification Feature

Binance Futures has relaunched the Open Orders Modification Feature on COIN-Margined contracts, giving users more flexibility to adjust open orders when trading futures. The Binance website and API now support it. Open Order Modification Feature: After placing an open order, users can change the price or quantity of the unfilled order using open orders, K-Line, or the Binance API. #Binance Futures relaunches Open Order Modification Feature. https://t.co/jf7S3Iaw8l — Binance (@binance) April 29, 2022 Open Order in Binance An open order is an unfilled or working order that will be fulfilled when an unmet requirement is met before the customer cancels it or expires. The customer can place a purchase or sell order that will remain in effect until the customer’s selected condition is met. Because they are generally conditional, many open orders are liable to delayed executions because they are not market orders. An order may potentially remain open due to a lack of market liquidity for a particular security. As Binance Futures supports open order modifications to provide flexibility for traders, users can modify the price and quantity of open orders on their Coin- Margined contracts. When a price or quantity is changed on order, it is considered a new entry. Orders are prioritized using the FIFO or price-time-priority algorithm based on their order price and order time. As a result, the most recent orders will be at the bottom of t...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer