Digital Surge offers several order types, each designed to help you trade more efficiently. Here’s a breakdown of each order type and how they work.
1. Instant Orders
Instant orders allow you to immediately buy or sell cryptocurrency at the current market price. This is the simplest and fastest way to place trades.
Key Features:
Maximum Order Size: Up to $100,000 AUD per transaction (depending on the asset).
No Limit on Number of Orders: You can place as many instant orders as you want.
Benefits:
Simple and Fast: Trades are executed instantly in just a few clicks.
How They Work:
Digital Surge routes trades with multiple trading providers.
Using smart order routing, Digital Surge finds the best price available across these marketplaces, saving you time and ensuring you don’t have to navigate complex exchanges.
2. Trigger Orders
Trigger orders allow you to set a specific price at which you want to buy or sell an asset. When the market reaches your trigger price, the order is placed automatically.
Key Features:
No Locked Funds: Unlike other platforms, Digital Surge does not lock your funds, allowing you to set up multiple trigger orders at once.
Multiple Strategies: You can set up simultaneous buy and sell orders.
Order Failure: If your account balance is insufficient when the trigger price is reached, the order will not be filled.
Benefits:
Automated Trading: Trigger orders let you enter or exit positions automatically, so you don’t need to constantly monitor the market.
Notifications: You’ll receive an email notification when your trigger order is executed.
How They Work:
All trigger orders are placed as market orders through Digital Surge’s smart order routing system.
The amount received may vary slightly due to market volatility.
Example:
BTC price: $60,000 AUD
Your Balance: $55,000 AUD and 0 BTC
You set a trigger to buy 1 BTC at $55,000 and another trigger to sell 1 BTC at $65,000.
If the price drops to $55,000 and rises to $65,000 during the night, both orders will execute automatically, netting you a profit.
Important Notes:
You can set multiple orders without needing to have assets locked.
Trading Fees: No fees apply to untriggered or unmatched orders; fees only apply when trades are completed.
3. Recurring Buys
Recurring buys (also known as Dollar Cost Averaging or DCA) let you automate your purchases of cryptocurrency at regular intervals.
Key Features:
You can choose the crypto asset, amount, and frequency for your recurring buys.
Recurring buys run at your scheduled time automatically.
Benefits:
Reduces Risk: By spreading purchases over time, you reduce the risk of buying at high prices.
Convenient Automation: Helps you grow your portfolio consistently without needing to place manual orders.
How They Work:
Set the coin, amount, and schedule for your recurring buy.
Ensure you have sufficient AUD funds in your account before the scheduled buy.
Tip: Set up a recurring deposit from your bank account 24-48 hours before your recurring buy to ensure funds are available.
Need Help?
If you have any questions about order types or need assistance, contact us via live chat or email us at contact@digitalsurge.com.au. We’re here to help!