ChainEX, a South African crypto exchange, announced it has added Stop/Stop Limit and Scaling order types for users. ChainEX features markets in BTC, ZAR, and USDT, with a wide variety of tokens available.
Stop/Stop Limit Orders are designed to allow users to place an order automatically when the market is erratic. With Limit Orders, users specify the price at which they are willing to buy or sell. Although the price is guaranteed, it’s not guaranteed that the order will be filled. Traders are essentially waiting for a target price to be reached before the order will be executed.
Scaling Orders automatically create a series of Limit Orders at increasing and decreasing prices across a user-determined price range. Scaling Orders were designed to allow all ChainEX users to focus more on their trading strategies than on creating orders.