Time-in-Force (TIF) options let you control how long your Buy or Sell orders remain active on the Juicyway platform. Here's a breakdown:
Good till Cancelled (GTC):
Description: Your order stays open until it's either:
Executed (partially or fully)
Cancelled by you
Example: You place a GTC order to buy 1000 USD at a specific price. This order remains active until it's filled (you buy 1000 USD) or you cancel it.
Immediate or Cancelled (IOC):
Description: Your order is executed immediately, either fully or partially. Any unfilled portion is cancelled.
Example: You place an IOC order to sell 500 EUR. If only 300 EUR are available for immediate purchase, the order is partially filled for 300 EUR and the remaining 200 EUR order is cancelled.
Fill or Kill (FOK):
Description: Your order must be executed entirely and immediately in a single transaction, or it's cancelled.
Example: You place a FOK order to buy 200 GBP. If the entire 200 GBP cannot be bought immediately, the entire order is cancelled.
Good till Time (GTT):
Description: Your order stays active for a specific period you define (e.g., 1 hour, 1 day, etc.). If not filled within that timeframe, it expires and is cancelled.
Example: You place a GTT order to sell 100 CAD valid for 24 hours. If no one buys your 100 CAD within 24 hours, the order automatically cancels.
Choosing the Right TIF Option:
The best TIF option depends on your goals:
GTC: Ideal for long-term orders where you want them to remain active until filled, even if it takes time.
IOC: Suitable for situations where immediate execution is crucial, even if only partially filled.
FOK: Ensures your order is executed entirely at once, or not at all. Useful for precise order fulfillment.
GTT: Perfect for setting orders with a specific time limit for execution.
By understanding these TIF options, you can effectively manage your orders on Juicyway.
Please don't hesitate to contact our customer support team for any more questions about Orders. We are here to help you make the most of your currency transactions and ensure your satisfaction with our services.