Koinex began stop limit orders on exchange

According to their recent tweet, Koinex has started stop limit orders on their exchange. The tweet came at 12.02 AM ISD on 29th March 2018.

Stop Limit Order on Koinex

The recent update has enabled users across the world to put stop loss orders on Koinex exchange.

With this announcement, Koinex has ensured a better experience for crypto traders all across the world who use Koimex.

Earlier Koinex had announced a small update at 11.30 PM ISD on March 28th, 2018. The update had resulted in a halt in the transactions between 11.30 am to 12.00 am. Most probably, the update was to initiate stop limit orders.

Stop limit order

A stop-limit order is an order placed with a broker that combines the features of a stop order with those of a limit order. A stop-limit order will be executed at a specified price, or better after a given stop price has been reached. It requires the setting of two price points. The first point initiates the start of the specified action, referred to as the stop, while the second represents the outside of the investor’s target price, referred to as the limit. We must also set a timeframe, during which the exchange will consider the stop-limit order executable.

What according to you will be the effect of this announcement on Indian crypto market?

 

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