Our order matching engine currently supports the following order types via ActiveTrader™, and API:
- Market
- Limit
- Limit with Funds
- Stop limit
- Stop market
Limit Orders
Limit orders can be submitted with a Time in Force. Time in Force allows you to configure the duration that your order remains active until it executes or expires. Gemini offers the following options for Time in Force:
- Good ‘till canceled (GTC): any order quantity that is not filled immediately rests on the continuous order book until it is filled or canceled.
- Maker-or-cancel (MOC): will only rest on the continuous order book before execution. If any order quantity can be filled immediately, the entire order is canceled.
- Immediate-or-cancel (IOC): any order quantity that is not filled immediately is canceled and does not rest on the continuous order book.
- Fill-or-kill (FOK): if the order cannot be filled in full immediately, the entire quantity is canceled. The order does not rest on the continuous order book.
For more information, please see our Marketplace page.
Note: These order types are only available in the ActiveTrader™ interfaces. Learn how to enable ActiveTrader™ here.
Stop Orders
What is a Stop limit order?
A stop limit order is a type of conditional order that combines the features of a stop loss order and a limit order, enabling traders to specify a trigger (stop) price and a limit price.
How does a Stop limit order work?
- The Stop limit order will be triggered when the Last price on Gemini crosses the Trigger price. For buy orders, the Trigger price needs to be higher than the Last price. For sell orders, the Trigger price needs to be lower than the Last price.
- After the Stop is triggered, a Limit order will be sent to the order book automatically.
- The Limit price ensures the order is executed at a specific price or better. The limit on the order can never be more than 10% higher than the trigger price for a buy order, or more than 10% lower than the trigger price for a sell order.
To illustrate, if the current price of BTC is 100k, you can set the Trigger price above the current price for a buy order such as at 110k (A) or below it at 90k (B) for a sell order. When the price hits 110k (A) or falls to 90k (B), the stop limit order will be triggered, and the limit order will be automatically placed on the order book.
What is a Stop market order and how do they work?
Stop market orders place a Market order when a Last price crosses the Trigger (stop) price of the order. They work similar to a Stop limit order such that the stop order will be triggered when the Last price on Gemini crosses the Trigger price. After the stop is triggered, a market order will be send to the order book automatically. For buy orders, the Trigger price needs to be higher than the Last price. For sell orders, the Trigger price needs to be lower than the Last price. Stop market orders have a slippage tolerance of 10%. For more control on execution price please use Stop limit orders instead.
Please note:
- Stop orders on Gemini are triggered based on the Last price. If the Mark price exceeds the Trigger price but the Last price does not, the Stop order will not get triggered. If the Last price exceeds the Trigger price but the Mark price does not, the Stop order will get triggered.
- The Limit price can be set above or below the stop price for both buy and sell orders. For example, stop price A can be placed along with a lower limit price A1 or a higher limit price A2.
- There is no guarantee that the market or limit order will be executed during periods of rapid market movement or when there is insufficient liquidity at the specified limit price.
Stop orders can help minimise potential losses – particularly during market fluctuations. They can be especially useful during trading hours when you are not in front of a screen or in fast-moving markets.
How to set up a Stop limit order on ActiveTrader
- Log in to your Gemini account.
- Tap on the pair switcher to select the pair you would like to trade.
- On the order form, select “Buy” or “Sell”.
- From the top-right order type dropdown menu, select “Stop-limit” and enter the Trigger price, Limit price and Quantity.
- Click the “Buy” or “Sell” button at the bottom of the order form to submit your order. Your order will appear in your Open order blotter.
How to set up a Stop market order on ActiveTrader
- Log in to your Gemini account.
- Tap on the pair switcher to select the pair you would like to trade.
- On the order form, select “Buy” or “Sell”.
- From the top-right order type dropdown menu, select “Stop-market” and enter the Trigger price and Quantity.
- Click the “Buy” or “Sell” button at the bottom of the order form to submit your order. Your order will appear in your Open order blotter.