How Limit Orders Work on Coinhako

How Limit Orders Work on Coinhako

What is a limit order?

A limit order is an instruction to purchase, sell, or swap a specified quantity of a supported digital asset, using, or in exchange for, fiat currency and/or another supported digital asset at a specified price. Your trade will only be executed when the market price of the specified digital asset reaches or surpasses your target price — giving you greater control over the price at which you trade.

Our limit orders use All-or-Nothing (AON) execution, meaning your order will only be fully filled if it can be completely matched at your specified price. Partial fills are not supported. If your entire order is unable to be fully filled at your limit price (e.g., the full quantity of the specified digital asset in your limit order is not available at your limit price), your order will remain open until it can be fully filled or until you cancel the order or it expires.

How do I create a limit buy order?

  1. Log in to your account.
  2. Tap the Trade button → Tap Buy → Select Limit Order
  3. Select the cryptocurrency you want to buy
  4. Set the limit price (the price you wish to buy at). You can also choose a quick option to set the price at -5%, -10%, -15%, or -20% below the current market price.
  5. Enter the amount in fiat currency (e.g., USD) or stable coins (e.g. USDT) you want to invest, or tap the switch icon to enter the specific crypto amount you want to buy.
  6. Select your payment method — this could be your SGD, USD, or USDT balance, depending on your country of residence.
  7. Review your order details — including setting the expiry date if needed
  8. Confirm and place your order

How do I create a limit sell order?

  1. Log in to your account.
  2. Tap the Trade button → Tap Sell → Select Limit Order
  3. Select the cryptocurrency you want to sell
  4. Set the limit price (the price you wish to sell at). You can also choose a quick option to set the price at +5%, +10%, +15%, or +20% above the current market price.
  5. Enter the amount of cryptocurrency you want to sell, or tap the switch icon to enter the fiat amount you want to receive instead.
  6. Select your fiat balance or stablecoin you want to receive — this could be your SGD, USD, or USDT balance, depending on your country of residence.
  7. Review your order details — including setting the expiry date if needed
  8. Confirm and place your order

Can I modify a limit order?

We currently do not support modifying open limit orders. If you wish to change the price or quantity, you will need to cancel the existing order and create a new one.

Can I cancel a limit order?

Yes, you can cancel a limit order at any time before it is executed via the Open Orders section in the app. To cancel an order:
  1. Go to the Hub > Tap Open Order
  2. Select the order you wish to cancel
  3. Tap Cancel > then choose Yes, Cancel
Please note that once an order is executed, it can no longer be cancelled.

How can I check my order status?

  1. Go to the Hub
  2. Tap on Open Orders
    1. Open — When the order is submitted and pending execution
    2. Pending — When the order is sent to the system
    3. Completed — When the order is executed
    4. Cancelled — When the order is cancelled

How long does a limit order remain active?

When placing a limit order, you can choose how long your order stays active before it expires. The available options are:
  1. "Good till canceled" (GTC): The order remains active until it is fully filled or cancelled.
  2. "Good till date/time" (GTD): The order remains active until the specified date and/or time, unless it is fully filled or cancelled (up to a maximum of 60 days)
Note: This option is set in the Review screen before you confirm your order. Some users may expect to set this during the order creation flow, so be sure to double-check before placing your order.

What happens to my funds while my order is active?

When you place a limit order, the necessary funds or digital assets in your account necessary for full settlement under the order will be immediately restricted in your Coinhako Wallet and you will no longer have any rights to use these restricted assets for any other purposes:
  1. For Limit Buy Orders, the required fiat amount (e.g. USD) or stable coins ****(e.g. USDT) will be restricted
  2. For Limit Sell Orders, the digital assets you wish to sell will be restricted
These restricted assets cannot be accessed or utilised and will only be returned to you if your limit order is (before it is fully filled) expired, cancelled, or rejected by us. If you wish to free up these restricted assets, you will need to cancel your limit order first.

Why hasn't my limit order been executed yet?

A limit order may not be executed immediately if:
  1. The market price of the specified digital asset hasn’t reached your specified limit price
  2. There isn’t enough liquidity at your target price to fill your entire order
Your order will remain open based on your selected expiry setting (Good till Canceled or Good till Date/Time) and will only execute when these conditions are met.

How will I know if my limit order has been executed or cancelled?

You will receive a push notification and an email notification when:
  1. Your limit order is executed (filled)
  2. Your limit order is cancelled (whether manually by you or due to expiration)
This helps you stay updated on your trading activity even when you’re not actively checking the app.
You can also check the real-time status of your orders by going to the Open Orders section in the app.

Are there fees for placing limit orders?

Yes — limit orders are subject to the standard trading fees. The exact fee amount will be clearly displayed during the Review step before you proceed with the order.
For more information regarding limit orders, please refer to Schedule 3 of our User Agreement.

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