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What is Time in Force in Futures Trading?

2023.10.12 MEXC
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There are five types of orders available in MEXC futures trading: ① Limit Order ② Market Order ③ Trigger Order ④ Trailing Stop Order ⑤ Post Only Order. Among those, limit orders, market orders, and trigger orders allow you to set time in force. Time in force refers to the duration your order remains valid before it is filled, and you can select it based on time parameters.

① Limit Order
Limit orders offer three time in force options: GTC, IOC, FOK.

GTC (Good 'Til Canceled): This type of order remains valid until fully filled or canceled.

IOC (Immediate or Cancel): If the order cannot be immediately filled at the specified price, the unfilled portion is canceled.

FOK (Fill or Kill): If the order cannot be completely filled, it is immediately canceled in its entirety.

② Market Order
Generally, market orders are filled immediately, but you can also opt for MTL (Market-to-Limit) orders.

MTL (Market-to-Limit): This order is submitted as a market order and filled at the current best market price. If the order is only partially filled, the remaining portion is canceled, and a limit order is submitted at the same price as the filled portion.

③ Trigger Order
Trigger orders offer three time in force options: 24 hours, 7 days, and long term.
24-Hour Validity: Your trigger order will be valid for 24 hours and becomes invalid after this period.
7-Day Validity: Your trigger order will be valid for 7 days and becomes invalid after this period.

Long Term Validity: Your trigger order remains valid until it is triggered or manually canceled.


Disclaimer: Cryptocurrency trading involves risk. This information does not provide advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.

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