Our order matching engine currently supports the following order types via ActiveTrader™, and API:

• Market
• Limit
• Stop-Limit

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-Limit 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 stop price and a limit price.

How does a Stop-limit order work?

• The stop will be triggered when the last traded price on Gemini crosses the stop 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.

To illustrate, if the current price of BTC is 100k, you can set the stop price above the current price such as at 110k (A) or below it at 90k (B). 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.

Please note:

• 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 a limit order will be executed during periods of rapid market movement or when there is insufficient liquidity at the specified limit price. A limit order will remain unfilled until the trigger condition (stop price) is satisfied, even if the market hits the limit price prior to the stop price being triggered. 
• When a specified stop price is met or exceeded, it merely indicates that the limit order has been activated and placed in the order book, rather than the limit order being filled right away. The execution of the limit order will follow its specific conditions.

Stop-limit orders can help minimise potential losses – particularly during market fluctuations. Additionally, as the limit part of the stop-limit order is automatically placed when the stop price is triggered, it makes them 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

1. Log in to your Gemini account.
2. Tap on the pair switcher to select the pair you would like to trade.
3. On the order form, select “Buy” or “Sell”.
4. From the top-right order type dropdown menu, select “Stop-limit” and enter the Stop price, Limit price and Quantity. 
5. 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.