What is a 'Fill-or-Kill' Order?
The beauty of cryptocurrency trading is the density of assets available for trading.
There are over 10k crypto assets listed at various exchanges—including CFD portals like CryptoAltum, available for traders and investors, as per coin trackers.
The difference, however, lies in the level of liquidity of each asset.
Admittedly, each cryptocurrency exchange supports a different number of coins and boasts of various client counts. Their order matching styles also vary.
For instance, emerging exchanges may opt for Automatic Market Maker (AMM) models. Attractive as they are, exchanges like CryptoAltum who use Order Books are comparatively more liquid with cheaper transaction fees.
Liquidity, as aforementioned, can subsequently affect order types on offer.
A Fill-or-Kill order is when the trader instructs the exchange to fill their order or, if liquidity is insufficient, 'kill' the order.
This specification is necessary.
Sometimes—in other exchanges—a block order of a given crypto asset can be filed at different market prices at rates that may not be favorable for the trader. A 'Fill-or-Kill' order prevents this from happening.
Established cryptocurrency CFD trading exchange like CryptoAltum distinguishes itself by boasting a 100 percent filling rate on order execution.