What is a STOP order?

RA Stop order is designed to limit an investor's loss on a trade position. A buy or sell order is triggered as soon as the average exchange price reaches the stop price set by the user.

When is the best time to use STOP?

When you are holding Bitcoin and want to limit your loss by selling if the market drops.

Example:

If you have 2 Bitcoin that you bought at $250 and want to make sure you sell if the price drops to $200.

Where can I set STOP order in the UI?

To set a Stop order, you will go into the Pro Trader tab > SELL > Advanced > select the 'Stop' algorithm.

For more information on different types of algorithms sFOX offers, you can visit https://www.sfox.com/order-types/.