Order Types

Market and limit orders, plus conditional orders (stop market and stop limit) on Yellow.pro — how each works and when to use it.

Yellow.pro supports market and limit orders, plus conditional (stop) orders that activate at a trigger price. The same order types and Time in Force options apply to both Spot and Perpetual markets (examples below use spot pairs). Understanding the difference helps you make better decisions and avoid unexpected outcomes.

Market Order

A market order is designed for immediate execution, filling against the best available prices in the order book.

• What you control: the amount (quantity).

• What you don't control: the exact price.

When to use: you need to execute immediately, the exact price matters less than getting filled, and the market is liquid.

Risk — slippage: in fast-moving or low-liquidity markets, your final fill price may differ from the price displayed at submission. This is normal and expected.

Limit Order

A limit order lets you specify the exact price at which you want to buy or sell. It only executes at that price or better.

• Buy limit: the maximum price you'll pay. A buy limit at 2,050 USDT waits until a seller offers at 2,050 or below.

• Sell limit: the minimum price you'll accept. A sell limit at 2,150 USDT only fills if a buyer pays 2,150 or above.

If your limit price matches existing orders already in the book, the order may fill immediately, acting like a market order — this means you were taking available liquidity at your stated price, not an error.

When to use: you want a specific price, you're not in a rush, and you want to avoid slippage. Risk: the order may never fill, and partial fills are possible.

Market vs Limit — at a glance

	Market Order	Limit Order
Execution speed	Immediate	When price is matched
Price control	None	Full
Slippage risk	Yes	No (fills at your price or better)
Guaranteed fill	Very likely	Not guaranteed
Acts as	Always taker	Maker (if not filled immediately) or Taker

Conditional Orders (Stop Market & Stop Limit)

Conditional orders do not activate immediately. They wait for the market to reach a specified trigger price, then automatically submit a new order. This lets you set up automated entry or exit strategies without watching the market continuously.

The order form with a conditional (stop) order selected

Stop Market

Triggers at your trigger price, then submits a market order immediately.

• Fields: trigger price, amount.

• Use it to: cut losses if the market drops to a level (stop-loss), or enter when the market breaks a level — when execution matters more than exact price.

• Risk — gap: the fill price may differ from your trigger price in fast-moving markets.

Stop Limit

Triggers at your trigger price, then submits a limit order at your specified limit price.

• Fields: trigger price, limit price, amount.

• Use it to: keep price control even after the trigger fires.

• Risk: if the market moves quickly past your limit price, the order may never fill.

Stop Market vs Stop Limit

	Stop Market	Stop Limit
After trigger	Submits a market order	Submits a limit order
Execution guarantee	High	Not guaranteed
Price control after trigger	None	Yes
Risk	Gap / slippage	Order may not fill
Best for	Ensuring exit	Controlling worst price

Take Profit and Stop Loss must currently be created manually through the order form — they are not automatically linked to an existing position or order. After placing a TP/SL order, verify the trigger price, the order side, and that your available balance covers the order if it activates.

Setting a Take Profit / Stop Loss order in the order form

Time in Force (TIF)

Time in Force controls how long an order stays active. Pick it from the TIF dropdown in the order form — it applies to both Spot and Perpetual orders.

TIF	Name	Behaviour
GTC	Good 'Til Cancelled	Rests in the book until it fully fills or you cancel it. Default for limit orders.
IOC	Immediate Or Cancel	Fills as much as possible right away; any unfilled remainder is cancelled.
FOK	Fill Or Kill	Must fill completely and immediately, or the entire order is cancelled.

Market orders are always IOC — they execute immediately against available liquidity and cancel any unfilled remainder. The TIF selector applies to limit (and limit-style) orders, where GTC is the default.

Maker vs Taker

Your order type affects whether you are a maker or a taker:

• Taker — your order consumes existing liquidity (market orders, or limit orders that fill immediately).

• Maker — your order adds liquidity to the book and waits.

See Fees for current maker and taker rates.

Related Articles

• How to Place a Spot Trade

• Managing Orders

• Fees