Order types and durations
Gozo exchange provides several different order types and their durations, catering to individual preferences of the traders.
Market order buys or sells a currency immediately at the best available current price. Execution price of the market order may vary from current best price due to execution and feed delay or due to exceeding best offer volume. A large order can significantly impact an order book.
A limit order is an order to buy or sell a currency at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
A good 'til canceled (GTC) order can be placed by an investor to buy or sell a currency that remains active until it is either rescinded by the investor or the trade is executed.
An immediate or cancel order (IOC) is an order to buy or sell a currency that must be executed immediately, and any portion of the order that cannot be immediately filled is cancelled.