EXMO Cryptocurrency Platform announces Stop Orders Launch function. After the end of beta testing, this new functionality will be available starting from 3 October 2019.
On the same day, the platform will host the Second Round of EXMO Coin IEO. The purchase price will be with a 5% discount from the original price.
Stop orders are designed to limit an investor’s loss on a position in a security. n the first iteration, one can use Stop Orders with the following currency pairs: BTC/USD, BTC/USDT, BTC/RUB, BTC/UAH, ETH/BTC, ETH/USD.
Please note that placing stop orders at the first release can only be done via the EXMO website.
“Over the past few months, all EXMO technical team has been focused on the implementation of Stop Orders in September (in accordance with the roadmap announced in WhitePaper). Now this function is under the beta-testing by a closed focus group and will be available to all the users of the platform after successful testing. It is important to fit all the necessary standards and help users to successfully implement their trading strategies.”, – noted Sergei Zhdanov, EXMO CEO.
Stop Order is a claim to Buy or Sell a certain amount of a cryptocurrency asset. Stop Orders are divided into:
Stop Order for Buy (buy stop) – is a claim for purchase at a specified price (or higher). Traders use this order when the price growth, and is expected to keep growing.
Stop Order for Sell (sell stop) – is a claim for sale at a specified price (or below). Traders use this order while expecting the assets price to go down and will continue falling. A Stop Sell Order is placed at a price lower than the current market price.
Stop Orders are used both to open a position and to сlose it. In the second case, stop order is used as a protective order limiting losses (stop loss): a buy stop order provides protection for a short position (sales), and a sell stop order protects a long position (purchases).
You can find useful information about cryptocurrencies and exchange trading on EXMO’s YouTube channel.
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