Limit order - Immediate Or Cancel

An Immediate Or Cancel limit order has the following characteristics:

  1. Your order will at least be executed at the price stated in advance or at a better price for you.
  2. Your order must be able to be fully or partially executed immediately.
    Note: The part that cannot be executed immediately is automatically canceled.

How the Immediate Or Cancel limit order works out exactly will be illustrated below with the help of an example.

Example A

Suppose you only want to buy 10 Bitcoin immediately at a pre-determined price of €999 per item. You therefore submit an Immediate Or Cancel limit order for the purchase of 10 Bitcoin for the price of €999 per item under the following market conditions:

  • As there is currently no seller who wants to sell one or more Bitcoin for €999 per item, your order cannot be completely or partially filled immediately, so that it is automatically canceled.

This way you know for sure that your order will only be executed for the price you specified and at the time you requested.

Example B

Suppose, in the aforementioned market conditions, there was a seller who offers 5 Bitcoin at a value of €999 each. This would then work as follows:

  • Since there is now a seller who wants to sell Bitcoin for €999 per item, your order can be partially executed (5 out of 10).
  • The remaining part of your order cannot be filled immediately for the desired price, as a result of which this part is immediately canceled.

This way you know for sure that your order will only be executed for the price you specified and at the time you requested.

Example C

Suppose, in the aforementioned market conditions, there was a seller who offered 10 Bitcoin at a value of € 999 each. This would then work as follows:

  • Since there is now a seller who wants to sell 10 Bitcoin for €999 each, your order can be filled in its entirety.

This way you know for sure that your order will only be executed for the price you specified and at the time you requested.

How do I submit an Immediate Or Cancel limit order?

You place an Immediate Or Cancel limit order as follows:

  1. Go to the advanced dashboard.
  2. At the top left, choose the market in which you want to trade.
  3. Choose a purchase or sale order.
  4. Choose a limit order.
  5. Specify the quantity that you want to buy or sell.
  6. Specify the amount on which you want to set the limit per digital currency.
  7. Click on advanced.
  8. Choose Immediate Or Cancel.
  9. Click on buy / sell.

After completing the above steps you have submitted an Immediate Or Cancel limit order.

Can I see an Immediate Or Cancel limit order in my outstanding orders?

Since an Immediate Or Cancel limit order must be immediately fully or partially filled or otherwise canceled, it will not be included in any outstanding orders.

Under the depht chart on the right you can see which part of your Immediate Or Cancel limit order has been filled. If you are on a small (er) screen, click on the arrow below the depth chart so that the open and filled orders are visible.

Please note: an order is only visible in the trade screen of the corresponding digital currency. Suppose you have a Bitcoin order, you will not find this Bitcoin order in the trade screen of another digital currency.

How do I cancel an Immediate Or Cancel limit order?

An Immediate Or Cancel limit order must be filled immediately, otherwise the unfilled part will be canceled automatically.

As a result, it is therefore not necessary and possible to adjust or cancel an Immediate Or Cancel limit order yourself.


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