To protect traders from market manipulations, HashKey Global implements the following order execution limits for spot trading.
Price Limit
For Market Order:
If the estimated filled price deviates by more than a certain percentage from the last traded price, the market buy order will be partially executed. Any remainder of the order exceeding the limit will be canceled.
For example, assuming the market order limit for BTC/USDT pair is 10%, if the last traded price is at 30,000 USDT, a user places a buy ( or sell) market order for 100,000 USDT. Any portion that could have been filled at a price above 33,000 USDT for buy order (or below 27,000 USDT for sell order) will be cancelled. Assuming only 80,000 USDT order value can be filled at a price below 33,000 USDT for buy order (or above 27,000 USDT for sell order), the remaining 20,000 USDT order value will be cancelled.
For Limit Order:
If the order price of a buy order or a sell order deviates from the Last Traded Price by a certain percentage, the order won’t be executed. For example, if the limit is 10%, the order price of your buy order cannot exceed 110% of the Last Traded Price, while the order price of your sell order cannot be lower than 90% of the Last Traded Price.
Order Placing Restriction for New Pair Listing:
Note: For the first five (5) minutes
For Market Orders: The price limit of market orders for the first 2 hours of the listing is set at 50%, and will be resumed to 10% after 2 hours.
If the user chooses to place an order at the counterparty price, the user only enters the order quantity and cannot enter the order price. The system will read the latest counterparty price (if the user buys, the counterparty price is the sell 1 price; if it is a sell, the counterparty price is the buy 1 price) at the moment of receiving this order and issue a limit order for this counterparty price.
For Limit Orders: Within the first five (5) minutes, the order price of your buy and sell orders cannot exceed 3000% of the listing price. This limit may change based on market conditions. The price limit of market orders for the first 2 hours of the listing is set at 50%, and will be resumed to 10% after 2 hours.
The user needs to specify the price and quantity of the order. The limit order stipulates the highest price the user is willing to buy or the lowest price the user is willing to sell. After the user sets the limit price, the system will match the transaction according to the rules of price priority and time priority; if the user sets the buy price higher than the market price or the sell price lower than the market price, the market will prioritize the transaction at a price that is favorable to the user.
Order Limit
HashKey Global imposed a minimum and maximum order quantity and value for each order. For example, the minimum order value for BTC/USDT per order cannot be less than 10 USDT and the maximum order value cannot exceed 200,000 USDT per order.
How to View the Spot Trading Limit
To view the Price limit and Order Limit for the respective spot trading pair, please visit Fee Rates and Trading Parameters.
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