Stop market order

A Stop Market order is a delayed order to Buy or Sell an asset once it reaches the price specified in this order (i.e the stop price). When the price of an asset reaches the stop price, this order will be executed as a market order, and filled at the first available market price. Traders use this type of order for various trading strategies, the main being to automatically enter the market at a specified entry point without having to wait for the market to reach that point and manually placing the order, and as a risk-management strategy to minimize losses on active trades.

Order size USD - reflects the full size of your order taking into account selected leverage. An amount equal to the margin cost for a position is reserved on the Wallet balance immediately upon opening a position.

Margex Trade Stop Market input fields highlight

When placing a Stop Market order, you will need to select the order size and the desired stop price. Should the price of the currency reach the stop price, this order will become a market order and will be executed at the first available market price.

Margin cost - the amount of personal funds which are required and reserved in order to open a position.