An Immediate or Cancel order requires all or a part of the order to be executed immediately, and any unfilled parts of the order are cancelled.
Note: Partial fills are accepted with this type of order duration, unlike a Fill or Kill order, which must be filled immediately in its entirety or be cancelled.
How to place an Immediate or Cancel order on Bitfinex
1. Firstly, log in to your Bitfinex account.
2. Then, you will be redirected to the Trading page of the Bitfinex platform.
3. Here, you can select the relevant trading pair from the ticker.
4. Following, you will navigate to the order form and select Immediate Or Cancel from the drop-down box.
5. Then, depending on the order you want to execute, you can choose between Exchange or Margin from the same order form.
Note: The default will be Exchange.
6. You can then fill out the Amount and Price proceed to either sell or buy. In this instance, the order will be executed in its entirety, or if partially executed, the remaining of the order will be cancelled.
How to use an Immediate or Cancel order
Due to the fact that Immediate or Cancel orders are completed at least partially at the set price, the user would attempt to fill as much as possible in a fast-moving market.
If you have any questions, please feel free to reach out to Bitfinex Support. We are happy to help!
