Delta Exchange: An Array of Order Types for Traders

Delta Exchange

Delta Exchange is a derivative cryptocurrency platform where traders can trade on ethereum futures and perpetual swaps of cryptocurrencies. Delta Exchange has been around since 2018 and till date, the company hasn’t been a victim of any hacks or system failures. It has had a 100% success rate thus being in the good books of many traders.

What makes Delta Exchange stand out, even more, is the different types of orders traders can place and the ease of placing them. This helps traders concentrate more on their trading strategy rather than paying attention to placing multiple orders.

The Common Orders:

1. Limit Order

Like any exchange, one can place a limit order. The main reason for placing a limit order is to ensure that the trader executes an order at his price level. For instance, if a contract is trading at $250 but the trader wants a buy order to be fulfilled at $245, a limit order can be placed to ensure the order is executed at $245 only, if and when the price reaches that level.

Since a Limit Order is adding liquidity to the books, instead of being charged taker fees, a trader receives a rebate i.e. Maker Fees are negative on Delta Exchange. This feature makes it attracting traders to not pay taker fees.

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2. Market Order

A market order is one that is executed immediately at the best price available. Since a trader is taking away the liquidity from the exchange, the trader is charged a taker fee for the same.

3. Stop Order

A Stop Order is a provisional order that is executed only when a certain Trigger Price has been hit. Stop Orders are used by traders as risk management techniques to limit their losses. While there are several different mechanisms of Stop Order, the one followed on Delta Exchange is executed in two steps. The stop is a trigger and once the trigger price has been hit the stop order will be executed. The stop order on execution can be a limit order or a market order.

4. Bracket Order

This feature on Delta Exchange lets traders place an order with two opposite-side orders i.e. Take Profit and Stop Loss. A Take-Profit order is placed once your trade has reached a certain level of profit. A stop-loss order is an order that is placed to limit losses. On Delta Exchange, Bracket Orders can be placed to an already existing position, an already existing order or a new order altogether.

The Advanced Orders:

Delta Exchange also offers FOK, IOC and GTC order types that traders can avail.

1. Fill or Kill

A Fill or Kill order is an order that is executed entirely when placed or cancelled if not executed. Partial execution in FOK order is not possible. A FOK order is used when large quantities need to be bought at a similar price range.

2. Immediate or Cancel

An Immediate or Cancel Order is an order when placed gets executed immediately with the matched quantity and the unfilled quantity is cancelled immediately.

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Many traders often get mistaken between FOK and IOC. Note, a FOK order when placed is completed fully while in IOC partial execution of the order is accepted while the other half is cancelled.

3. Goods till Cancelled

Goods till Cancelled (GTC) order is an order that is an open order till execution or is cancelled by the trader. By default, all Limit Orders on Delta Exchange are GTC Orders.

Delta Offers and Referral Programs

Delta Exchange rolls out exciting offers and referral programs based on the seasons and festivities. Closing out in 2019, they had a $10 bonus offer which was offered after a few steps were followed. Delta Exchange also held some contests on Twitter which gave out USD deposits for the Christmas and New Year. The wait for the next Delta Offer is definitely on the lookout.

What’s next for Delta Exchange in 2020?

Delta Exchange has been prompt in listening to the traders and listing innovative coins on the exchange. Just like the past few years, Delta Exchange is looking to innovate in 2020 too. Currently, they’re working on introducing Option Trading on the platform. Seeing how successful they have been in ensuring they aren’t victims to any trading glitch, it will be great to see them introduce options.

All in all, Delta Exchange is emerging as a strong player in the crypto derivative space and definitely a player to watch out for!