Every trade on a spot exchange starts with an order. The order type you choose determines how your trade is executed — immediately at the current price, at a price you set, or automatically when the market reaches a specific level.

XT Exchange’s spot market supports multiple order types. This guide focuses on three core spot order types — Market, Limit, and TP/SL — while XT Exchange also provides additional conditional-order tools, including Stop Limit, Trailing Stop, and OCO. Each order type offers a different balance between execution speed, price control, and automation.

Market Orders

A market order executes immediately at the best available price. It prioritizes speed: you want to buy or sell now, and you accept the current market price.

How it works on XT Exchange:

Buying: Select [Spot] → [Buy] → [Market Price]. Enter the Total — the amount of USDT you want to spend. The system calculates how much of the asset you receive based on the current market price.

Selling: Select [Spot] → [Sell] → [Market Price]. Enter the Quantity — the amount of the asset you want to sell. The system calculates your USDT proceeds based on the current market price.

The final quantity you receive (when buying) or the proceeds you receive (when selling) depends on market conditions at the moment the order is processed. In fast-moving markets, the executed price may differ slightly from the price displayed when you placed the order. This difference is called slippage. For details on applicable execution costs, see XT’s spot and futures fee schedule.

When traders use market orders: When they want to enter or exit a position quickly and are willing to accept the current price rather than wait for a specific one.

Limit Orders

A limit order lets you set the exact price at which you want to buy or sell. The order only executes at your specified price or better. If the market does not reach your price, the order remains open.

How it works on XT Exchange:

Select [Spot] → [Buy/Sell] → [Limit Price]. Enter the Price you want and the Quantity of the asset. The order is placed on the order book and waits for the market to reach your price.

A buy limit order executes at your set price or lower. A sell limit order executes at your set price or higher. This means you always get the price you asked for — or a better one.

The trade-off is time. A limit order may take minutes, hours, or days to fill. It may never fill at all if the market does not reach your price. You can cancel an open limit order at any time.

When traders use limit orders: When they have a specific target price and are willing to wait rather than accept the current market price.

TP/SL (Take-Profit / Stop-Loss) Orders

A TP/SL order is a conditional order. It does not execute immediately. Instead, it monitors the market and activates only when a price condition — the trigger price — is met.

On the XT Exchange spot order form, TP/SL settings are available when placing both Limit and Market orders. The exact execution behaviour depends on the order type and settings selected in the interface.

Viewing active TP/SL orders: Go to “Open Orders” → “Stop Limit” to see all active conditional orders.

Important: In extreme market volatility, a triggered order may not execute — even after the trigger condition is met. This can happen when prices move through the trigger level too quickly for the order to fill. For additional guidance on configuring TP/SL settings, see Frequently Asked Questions About TP/SL Orders.

When traders use TP/SL orders: To automate entries or exits at predetermined price levels — either to lock in gains (take profit) or to limit losses (stop loss) — without needing to monitor the market continuously.

Other Conditional Order Tools on XT Exchange

Stop Limit

A Stop Limit order lets you pre-set a trigger price and an order price. When the market reaches the trigger price, XT Exchange automatically places an order at the specified order price. The relevant position or margin is reserved in advance. Because the resulting order is a limit order, execution is not guaranteed if the market moves beyond the selected price before it can be filled.

Trailing Stop

A Trailing Stop is designed to follow market movement after activation. Its trigger price adjusts as the market moves in a favourable direction, using a callback distance or callback percentage selected by the user. For sell orders, the trigger follows the highest price reached after activation; for buy orders, it follows the lowest price reached after activation. The system begins calculating the trailing trigger only after the order is activated.

OCO

An OCO order combines a Limit order with a TP/SL order. When either order is triggered or executed — fully or partially — the other order is automatically cancelled. If one order is cancelled manually, the other order is cancelled as well.

Comparison

Feature	Market Order	Limit Order	TP/SL Order
Execution speed	Immediate	When price is reached	When trigger is reached
Price control	None (accepts market price)	Full (set exact price)	Depends on order type and settings
Automation	None	None	Yes (trigger-based)
Risk of non-execution	Low (depends on liquidity)	Moderate	Moderate to high
Best for	Quick entry/exit	Targeting a specific price	Automated profit-taking or loss limiting

Note: XT Exchange also offers conditional-order tools such as Stop Limit, Trailing Stop, and OCO. These tools are designed for more specific execution and risk-management scenarios.

Choosing the Right Order Type

There is no universally best order type. Each serves a different purpose:

• Need to act now? A market order gets you in or out immediately.
• Have a target price? A limit order waits for the market to come to you.
• Want to automate? A TP/SL order watches the market so you do not have to.
• Need conditional execution with a specific order price? A Stop Limit, Trailing Stop, or OCO order provides additional control.

Consider the trade-off each time. Market orders sacrifice price certainty for speed. Limit orders sacrifice speed for price control. TP/SL and other conditional orders add automation but introduce additional conditions that must be met for execution.

Before placing any order, review the order details, check the current market conditions, and ensure you understand how the order type behaves in different scenarios. For a broader walkthrough of the spot trading workflow, see A Comprehensive Guide to XT Spot Trading.

Further reading:

• What is a Market Order and How Do I Place It?
• How to Use Take-Profit (TP) and Stop-Loss (SL) in Spot Trading
• What is A Limit Order and How to Place It?

Frequently Asked Questions

What is the difference between a market order and a limit order in crypto?

Market orders seek immediate execution at the best available market price. However, the final fill depends on available market liquidity. A limit order executes only at the price you set or better, prioritizing price control. The right choice depends on whether speed or price certainty matters more for your trade.

What is slippage and how does it affect spot orders?

Slippage is the difference between the price displayed when you place an order and the price at which it actually executes. It most commonly affects market orders in fast-moving or low-liquidity markets. Limit orders set the worst acceptable execution price, but they may not be filled if the market does not reach the selected price.

Can I use a TP/SL order as a stop-loss on XT Exchange?

Yes. A TP/SL order on XT Exchange can function as a stop-loss by setting the trigger price at the level where you want to exit a position to limit losses. TP/SL settings are available from both the Limit and Market order forms in the spot interface. The exact execution behaviour depends on the order type and settings you select.

Can I cancel a limit order or TP/SL order after placing it?

Yes. An open limit order can be cancelled at any time before it fills. An active TP/SL order can be cancelled before its trigger condition is met. Market orders cannot be cancelled because they execute immediately. You can view and manage open limit and TP/SL orders in the “Open Orders” section of XT Exchange’s spot trading interface.

Which order type is best for beginners in spot trading?

There is no single best order type — each fits a different situation. Beginners who want to enter or exit quickly typically start with market orders for simplicity. Limit orders suit traders with a target price who want to control execution price. As you gain experience, explore TP/SL, Stop Limit, Trailing Stop, and OCO for more specific execution and risk-management scenarios.

What is the difference between Stop Limit, Trailing Stop, and OCO orders?

Stop Limit uses a fixed trigger price and order price. Trailing Stop adjusts its trigger as the market moves after activation. OCO links a Limit order with a TP/SL order, so that when one order is triggered, executed, or cancelled, the other is cancelled automatically.

About XT Exchange

Founded in 2018, XT Exchange is a leading global digital asset trading platform, serving over 12 million registered users across more than 200 countries and regions, with an ecosystem reach exceeding 40 million. XT Exchange supports 1,300+ tokens and 1,300+ trading pairs, offering a wide range of trading options, including spot, margin, and futures, alongside a secure RWA (Real World Assets) marketplace. Guided by the vision “Xplore Crypto, Trade with Trust,” the platform strives to provide a secure, trusted, and intuitive trading experience.

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Disclaimer: XT Exchange reserves the right, at its sole discretion, to modify, amend, or cancel this announcement at any time for any reason without prior notice.