We enhance the liquidity and efficiency of digital assets trading.

Currency Pair (Market)

To trade one currency for another, there must be a market (or ‘currency pair’) linking both currencies.
In a currency pair, the price indicates how much of the quoted currency is required to buy one unit of the base currency. For example, the price of €500 for XBT/€ means that 1XBT costs€500.

Base Currency

The first currency in a currency pair is called the base currency. In the currency pair XBT/€, XBT is the base currency.

Quote Currency

The second currency in a currency pair is called the quote currency. In the currency pair XBT/€, € is the quote currency.

Minimum Order Size

Tradable currencies have a minimum order size, and depending on the platform you use, this will vary. An order placed with a volume below the minimum order size is often rejected.

Limit Order Type

A limit order will buy (or sell) at a pre-specified price or better. A limit order can be maker or taker, depending on whether it crosses the order book or not.

Market Order Type

A market order will buy (or sell) at the best average market price. All market orders are referred to as taker.

Maker

A maker (not to be confused with a market order) is a limit order that is not immediately matched/filled with an existing order on the order book. Makers add liquidity to the order book.

Taker

A taker is a market or limit order that is immediately matched/filled with an existing order on the order book. Takers remove liquidity from the order book.

Stop Loss Order Type

A stop-loss order is typically used as a closing order to limit your losses or lock in your profits on a long or short position. However, they can also be used to open a position.

Take Profit Order Type

A take-profit order can be used to set a target profit price on a long or short position. The profit price can be set in terms of absolute price or as a percentage. As with stop orders, take-profit orders can also be used to open positions.

Open Order

Open orders can either be ‘touched’ or ‘untouched’. An ‘untouched’ open order is an unfilled order.
A ‘touched’ open order is an order that is partially, but not completely, filled.

Filled Order

An order can be ‘partially’ or ‘fully’ filled. To fill a buy or sell order is to match it with one or more orders of the opposing type.
Buy orders are filled by matching with sell orders; sell orders are filled by matching with buy orders.

Closed Order

A filled order will be listed as ‘closed’.

Cancelled Order

A cancelled order is one that has been withdrawn from the order book without being fully filled. A cancelled order will either be untouched or partially filled.

Order Book

The order book is a list of unfilled buy and sell limit orders. It is used by an exchange to fill market orders at the best available price.

Ask

An order listed on the sell side of the order book.

Bid

An order listed on the buy-side of the order book.

Bid/Ask Depth

The Bid/Ask Depth represents the cumulative volume of buy and sell orders at a particular price. The bid depth at a given price is the cumulative volume of current buy orders on the book at that price or higher, while the ask depth at a given price is the cumulative volume of current sell orders on the book at that price or lower.

Bid/Ask Spread

The difference in price between the highest bid and the lowest ask on the order book.

Depth Chart

A visual representation of the demand and supply at different price levels.

Liquidity

A term that describes the amount of activity on a market. High liquidity means a high volume of activity in a market where many parties are willing to take the other side of a trade.

Volatility

A market’s volatility is its likelihood of showing rapid and unpredictable price movements.

Collateral Currency

A sufficient balance in one or more collateral currencies is required to trade on margin.

Leverage

Leverage allows you to place trades in larger amounts than what you have in your trade balance.