A stop-Limit is a set of instructions in order to place a trade order as per the predefined parameters. However, when the current crypto market price reaches the trigger price, and you can automatically place an order on the HotBTC cryptocurrency exchange according to your pre-set price and amount. Once you initiate a stop-limit order and if your account balance is much lower than the ordered amount, then HotBTC will automatically place your order in accordance to the actual balance present in your account. However, if your account balance is much lower than the minimum trading limit then your order cannot be placed.
Basically, HotBTC is one of the top crypto trading platforms which allows you to buy or sell cryptocurrencies and complete other traders. Buying and selling orders are placed on the order book, and the orders are filled by matching buyers and sellers at current market prices. The basic types of cryptocurrency trades are market, limit, and stop orders.
A limit order has its own benefits like it can help you determine the latest market price. Although it is not always guaranteed that it can be executed, as it totally depends on the market price. HotBTC cryptocurrency exchange has incorporated the stop-limit order in such as way so that you can use a stop-limit order in tandem with a market order when a specific price is met accordingly. However, it may work as a limit order, but it is executed like a market order once that price is reached (as a rule of thumb, there are stops that use limits).
However, conventional stop orders are therefore subject to the same fees as that of market orders. After every condition is fulfilled, a stop-limit order turns into a limit order. The best part is this type of order is that it is more result-oriented due to a price guarantee if any digital asset is highly volatile in the current crypto market. Trading with the one of the top crypto trading platforms in the market does open an exciting world of opportunities with higher growth potential, and it can even help you represent your financial future as well. However, before entering the crypto market it is important to learn about the tips and trick associated with crypto trading. Moreover, it is important to remember that a stop-limit can only be placed once a stop price is acquired or else if the market price does not meet your desired price the limit order will stay open.