When trading on a cryptocurrency exchange, choosing the right order type can significantly impact your execution efficiency, cost, and overall trading strategy. On OKX, one of the most powerful tools available to traders is the Advanced Limit Order. Unlike standard limit orders, which remain active until manually canceled or fully filled, advanced limit orders offer additional execution controls that allow for more strategic and precise trading.
This guide will explain what advanced limit orders are, how they work on OKX, and why experienced traders use them to optimize their market participation. We’ll cover the three key execution modes: Post Only, Fill or Kill (FOK), and Immediate or Cancel (IOC)—with real-world examples to clarify each.
Understanding Advanced Limit Orders
An advanced limit order gives traders control over how and when their trades execute by allowing them to set specific conditions beyond just price and quantity. These conditions determine whether an order should be partially filled, rejected outright, or modified based on current market depth.
On OKX, advanced limit orders support three distinct time-in-force mechanisms:
- Post Only (Make Only)
- Fill or Kill (FOK)
- Immediate or Cancel (IOC)
These options go beyond the default behavior of regular limit orders, which simply stay on the order book until filled or canceled.
Post Only: Stay a Maker, Avoid Taker Fees
The Post Only option ensures that your order will only be placed as a maker—meaning it adds liquidity to the market rather than removing it. If your order would immediately match with an existing order at the same price, it gets rejected instead of executing.
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Why Use Post Only?
- Lower fees: Makers typically pay lower (or even negative) fees compared to takers.
- Avoid slippage: Prevents unintended executions at unfavorable prices.
- Strategic positioning: Ideal for traders who want to place passive bids or offers without risking instant fills.
Example:
Suppose BTC is trading with the following sell-side order book:
- Sell (1): 1 @ 18,737.00
- Sell (2): 1 @ 18,737.25
- Sell (3): 8 @ 18,738.00
- Sell (4): 100 @ 18,740.00
- Sell (5): 156 @ 18,750.00
If you place a buy order at 18,737.00, it won't match any existing sell orders immediately (since all are at or above 18,737.25), so it posts to the book as a maker — success.
But if you try to buy at 18,737.25, your order would instantly match with Sell (2), making you a taker. Since "Post Only" prohibits taker trades, your entire order is canceled automatically.
This feature is especially valuable for high-frequency traders and arbitrageurs who rely on fee-efficient strategies.
Fill or Kill (FOK): All or Nothing Execution
A Fill or Kill (FOK) order must be executed in full immediately, or it is canceled entirely. Partial fills are not allowed.
When to Use FOK?
- You need immediate execution of a large volume.
- You’re executing time-sensitive strategies like flash arbitrage.
- You don’t want leftover unfilled portions lingering in the market.
Example:
You place a FOK buy order for 300 BTC at 18,800.00.
Total available sell quantity in the order book:
1 + 1 + 8 + 100 + 156 = 266 BTC
Since only 266 BTC can be filled instantly, but you require 300 BTC all at once, the system cancels the entire order.
However, if you place a FOK order for 200 BTC, and there’s sufficient depth (e.g., 266 BTC available), then the full 200 BTC will be filled instantly.
FOK is ideal for institutional traders or bots that require certainty of complete execution.
Immediate or Cancel (IOC): Fill What You Can, Cancel the Rest
An Immediate or Cancel (IOC) order executes whatever portion can be matched instantly and cancels the remainder—no waiting.
Benefits of IOC:
- Fast execution for part of your order.
- No risk of remaining open after partial fill.
- Useful in fast-moving markets where timing matters.
Example:
You place an IOC buy order for 300 BTC at 18,800.00.
Available sell depth: 266 BTC
Result:
✅ 266 BTC purchased immediately
❌ Remaining 34 BTC canceled automatically
Unlike FOK, IOC accepts partial fills. This makes it suitable for traders who want to enter a position quickly without overexposure.
Key Differences Between Order Types
| Feature | Standard Limit | Post Only | Fill or Kill | Immediate or Cancel |
|---|---|---|---|---|
| Stays on book | Yes | Yes (if no match) | No | No |
| Partial fill allowed | Yes | Yes (if later matched) | No | Yes |
| Executes as taker | Yes | No | Yes | Yes |
| Immediate execution required | No | No | Yes | Yes |
| Best for | General trading | Fee optimization | Full-volume urgency | Quick partial entry |
💡 Tip: Combine these order types with stop-loss or take-profit triggers for advanced risk management on OKX.
Frequently Asked Questions (FAQ)
Q: Can I change an advanced limit order after placing it?
A: No—once submitted, you cannot modify an advanced limit order. You must cancel it and place a new one with updated parameters.
Q: Does “Post Only” guarantee my order won’t be canceled due to price movement?
A: Not exactly. While “Post Only” prevents taker execution at placement, if the market moves and later hits your posted price, it may still fill as a maker. However, if another trader places a matching order that crosses yours, you’ll get filled—still as a maker.
Q: Are advanced limit orders available for all trading pairs on OKX?
A: Most spot and futures pairs support advanced orders, but availability may vary by market and asset class. Check the trading interface for supported options per pair.
Q: Do IOC and FOK orders incur taker fees?
A: Yes—if they match with existing orders on the book, they are considered taker trades and subject to taker fees. Only “Post Only” guarantees maker status (and associated fee benefits).
Q: Can I use advanced orders in margin or futures trading?
A: Yes—OKX supports advanced limit orders across spot, margin, and futures markets, giving professional traders consistent tools across products.
👉 Start using advanced order types to refine your trading strategy today.
Advanced limit orders are not just for experts—they're essential tools for anyone serious about efficient, cost-effective trading. Whether you're aiming to minimize fees with Post Only, ensure full execution with Fill or Kill, or get quick partial fills with Immediate or Cancel, OKX provides the flexibility to match your goals.
Understanding these mechanics helps you avoid costly mistakes like unintended taker fees or incomplete executions during volatile conditions.
As crypto markets grow more competitive, precision in execution becomes a key advantage. By mastering advanced limit orders, you gain better control over trade outcomes—and that’s what separates casual traders from consistent performers.
Remember: every basis point saved on fees or gained through smarter execution compounds over time.
👉 Unlock smarter trading with powerful tools on OKX—try advanced limit orders now.