Why Use Different Order Types in the Terminal?
The 3Commas Trading Terminal offers more flexibility than SmartTrade by giving you access to advanced order types tailored for specific trading strategies.
These options are ideal for experienced traders who want precise control over order execution, slippage, and fee structure.
Where to Find Order Types
In the Order Controls section of the Terminal, you’ll see a dropdown menu (marked as item 1 in the interface) that lets you select the desired order type for each trade.
List of Supported Order Types
1. Good-Till-Cancelled (GTC)
This is the default Limit Order type.
The order stays on the exchange order book until it is either fully filled or manually cancelled by the trader.
Useful when you're waiting for a specific price but aren’t concerned about how long it takes.
2. Fill or Kill (FOK)
The order must be filled in full immediately once the price condition is met.
If even part of the order can’t be filled, it is completely canceled.
Ideal when you're executing large orders and need full fill precision without partial slippage.
3. Immediate or Cancel (IOC)
The exchange attempts to fill as much of the order as possible immediately at your specified price or better.
Any unfilled portion is instantly canceled.
Great for fast-moving markets where partial execution is acceptable but you don’t want hanging orders.
4. Post-Only
This order will only be placed as a “Maker” order on the order book.
If the order would match immediately and become a “Taker” order, it is canceled.
Often used by Futures traders to benefit from maker fee rebates.
Ensures you don’t pay taker fees and can earn maker rebates if your order gets filled later.
5. Reduce Only (For Futures traders only)
This toggle appears when placing orders on Futures exchanges.
Ensures that the order only reduces your open position and does not create a new position in the opposite direction.
Especially useful when closing a Long or Short to avoid unintended reverse positions that could lead to liquidation.
Exchange Implementation Disclaimer
Important:
The order types described here reflect standard industry definitions. However, some exchanges may interpret or handle these types differently.
Always verify with your exchange to ensure functionality matches your expectations.