# Order types

## Order Types

There are 5 order types on WOOFi Pro:

**MARKET:** It matches until the full size is executed. If the size is too large (larger than the whole book) or the matching price exceeds the price limit (refer to `price_range`), then the remaining quantity will be canceled.

**LIMIT:** Limit orders are orders with a specific buy or sell price. Unlike market orders, which trade immediately at the current price, a limit order gives you more control over the executed price.

**IOC (Immediate or Cancel):** It matches as much as possible at the order\_price. If not fully executed, then the remaining quantity will be canceled.

**FOK (Fill or Kill):** If the order can be fully executed at the order\_price, then the order gets fully executed otherwise would be canceled without any execution.

**POST ONLY:** If the order executes with any maker trades at the time of placement, then it will be canceled without any execution.

**REDUCE ONLY:** Executes buy or sell orders which only reduce a current position

**TP/SL(Take Profit or Stop Loss):** TP/SL orders are conditional orders designed to help manage your trading positions. These orders enable you to set predefined exit points to secure profits or limit losses in volatile markets. TP/SL orders are executed as market orders.

**BBO:** A BBO (Best Bid and Offer) order is a type of limit order that enables traders to place orders at the best available prices on the order book. BBO orders use dynamic and pre-defined options to capture the best available bid or ask prices. This makes BBO orders an efficient tool for traders to quickly capitalize on market opportunities with better execution prices.


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