There are a number of different order types to choose from on the Digital Surge platform which functions in different ways. Below is a description of each order type and how they work.

Instant orders allow you to immediately execute a trade right away. This is seen as the easiest and simplest way to buy or sell.
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Instant orders have a maximum individual order size of up to $100,000 AUD depending on the asset, however there is no limit on the number of Instant orders you can place.

Instant orders make trading simple. You can immediately buy or sell any listed asset instantly. It only takes a few clicks and you're done.

We have established partnerships with multiple marketplaces and, through our high trade volume and smart order routing, we are able to find the best price each time. This saves you time and hassle having to worry about dealing with complicated exchanges and trying to jump through multiple conversions to get the price you’re after!

An instant order can have the following statuses:

Trigger orders allow you to set the price you wish to buy or sell and have the order automatically placed when your price is matched. These orders are commonly referred to as take profit or stop loss orders.

Trigger orders do not lock your funds, allowing you to create multiple Trigger orders across different assets. Your Trigger orders will execute when the Trigger price is matched, allowing you to setup multiple trading strategies at the same time. Your remaining Trigger orders will stay in place until they match. If your Trigger order exceeds your account balance at the time the Trigger order executes the order will fail.

Benefits:

By setting Trigger orders, you can specify your trading strategy to enter or exit a position when the price is right without having to continually check the market conditions. You will be notified by email when your Trigger order is executed, allowing you to review your position.

How they work?

One of the key differences between our trigger orders & most other platform’s trigger orders is that we don't lock your funds into an open order. The benefit of this is that it allows you to set up multiple trigger orders and potentially chain them together. For example, you could set up the following conditions:

Current price of BTC is $60,000

You have a balance of $55,000 AUD and 0 BTC

You set a trigger price of $55,000 to BUY 1 BTC
You also set a trigger price to SELL 1 BTC at $65,000

If during the night the price of Bitcoin suddenly drops down to $55,000 and then spikes up to $65,000 - both of your triggers would be met and you would have automatically purchased 1 BTC at $55,000 and sold it for $65,000 - returning a handy profit.

On other platforms it would not be possible to place the SELL order as you don't have enough BTC in your wallet and would need to buy some before doing so.

One thing to keep in mind is that all triggers orders are placed via our smart order routing system as market orders. This means that the amount you end up receiving could be slightly more or less (which is standard) depending on the volatility of the asset at the time the trigger was activated. You will also need to ensure that you have enough funds in your account as the order may end up getting triggered but not filled unless the funds are available for the order. Untriggered & Unmatched Triggered orders don't incur any trading fees – trading fees only apply to successfully completed trades.

A Trigger order can have the following statuses:

Note: Native market orders will be available soon.

Market orders allow you to quickly buy or sell large amounts of an asset at the current market price.

If an asset’s price is rapidly changing and you want to enter a position quickly without waiting, a market order can be a good option.

Market orders get routed via our smart-order routing system to find the best available price which can be executed directly against our partner’s order book as a ‘market order’. This means that for coins with low global liquidity you could end up experiencing slippage (getting less than you expected). On the flipside, if a coin is suddenly going down in price and you place a market order you may end up getting more than you expected. Unlike our instant orders, the amount you see for the market orders is an estimate and the final amount will not be known until the order is completed.

Market orders have a maximum individual order size of $100,000 AUD. There is no limit on the number of Market orders you can place.

Note: Limit orders are available on our Markets (BTC & ETH). If you want the ability to set a buy or sell price on the other assets consider using a Trigger order.

Limit orders allow you to set a buy or sell price for a specific asset and will stay opened until the order is fully matched.

Limit orders are a good way to minimise risk as the order will only ever be executed at the price you set, no more and no less. Limit orders are only available on the Markets (BTC & ETH).

When you place a Limit order on our Markets your funds will be locked, and the order is placed into the order book at the set price. The order will remain on the order book until it is matched with a market order, or you cancel the order. Placing and cancelling orders do not incur any fees – trading fees only apply to successfully completed trades.

An limit order can have the following statuses:

Recurring buys, often know as Dollar Cost Averaging (DCA), let you to set up an automatic recurring buy of any asset at a set time and interval.

Recurring Buys are a great way to automate your trading, allowing you to invest small (or large) amounts of money over a period of time. This has been shown to be a highly effective way to invest. With Recurring Buys you can minimise your risk of buying in at a high price and spread your purchases out over a period of time.

You specify the cryptocurrency, amount, and frequency that you want to invest, and the order will run automatically at your scheduled time.

Funds will need to be available in your account for the Recurring Buy to be successful. It can be a good idea to setup a scheduled deposit from your bank account the day before your Recurring Buy is scheduled to run.

If you have any other questions, don't hesitate to get in touch. We're here to help.