BitForex Perpetual Trading is now supporting Best-Bid-Offer. Best-Bid-Offer is a special limit order. Taker fee and Maker fee will be charged for trades where Maker orders add liquidity and Taker orders remove liquidity from our order book.
Best-Bid-Offer: When users use the Best-Bid-Offer price, their order will get filled at the best available (lowest) ask price and the best available (highest) bid price from the order book.
Sometimes Orders with Best-Bid-Offer cannot be executed immediately due to dramatic market changes. Those unfilled orders will be set as Limit Order in the order book, and maker fee will be charged.
Limit Order：When users want to buy or sell contracts at a specific price or better, they can use the Limit Order.
When the price of Limit Price Order is higher than/equal to the price of Ask-1, or lower than/equal to the price of Bid-1, this order will be immediately executed and taker fee will be charged.
When users expect to enter or exit the market with a price that is better than the current market price, ask orders with price less than Ask-1 and bit orders with price higher than Bid-1, will be in pending mode. Once the order has been executed, maker fee will be charged.
Difference between Best-Bid-Offer and Limit Order:
When using the Limit Price Order, users should manually set a price. When using Best-Bid-Offer, the price is automatically generated based on the current market.