What happens if my limit order or market order exceeds the amount of available purchase price?

Two different scenarios will result from a limit order or market order exceeding the amount of available purchase price these are:

(1) If your placed limit order exceeds the amount of available purchase price, it will be instantly filled and you will be charged a taker fee.

The reason is that limit order is an instruction to buy or sell a quantity of cryptocurrencies/tokens at a specified price or better. A buy limit order can only be processed at the limit price or lower, whereas a sell limit order can only be processed at the limit price or higher.

(2) If your order is allocated as a market order, its amount will be identical to the available purchase price.

Assigning market order usually synchronized with the currently available purchase order, given that a market order is an order to buy or sell a set amount of cryptocurrencies/tokens at the best available price (market price) on the exchange.

Should you have any confusion or need any assistance with the process of placing a limit or market order, please get in touch with the customer service team to walk you through the process.