What is Smart Routing?

Smart routing is an algorithm used to achieve the best possible execution in terms of speed and price. Smart Routing sends your order to the exchange with the best price. Smart routing will also ensure sufficient liquidity by splitting the order between multiple exchanges.

Once the limit price set by the trader is reached, the Smart Algorithm triggers a market order to the exchange with the best price. If the order is not filled immediately, the order defaults to a limit order.

Why use Smart Routing?

In the cryptocurrency market, there are many exchanges available to buy and sell cryptocurrency. Each of these exchanges are their own entity with their own liquidity, thus each one makes their own prices. Price tends to follow a similar pattern from exchange to exchange, however, it is possible that price can differ quite drastically at a given moment.

With the SFOX platform, users have access to the cumulative liquidity among the top exchanges. With the Smart Routing order, users can be confident that their order has the best possible execution.

On average, Smart routing orders save $12 per $10,000 traded compared to normal limit orders. This savings of 12 bps (.12%) almost cuts the standard SFOX exchange fees in half!

When to use Smart Routing?

When you want to make sure your order is completed as soon as possible. This algorithm can be used for any size order. This order type can potentially replace all standard limit orders.

How to use Smart Routing:

Using the Smart Routing algorithm is as simple as a standard limit order.