Crypto.com Exchange has launched the One-Cancel-the-Other (OCO) order type for Spot and Margin Trading. OCO orders enable users to perform trade automation during up and down market movements, so they can effectively take profits and mitigate potential risks.
OCO orders work by allowing users to place two orders at the same time. It combines a Limit Order and a Stop Limit/Stop Market Order, where only one will be executed. When any one order gets partially or fully fulfilled, the other will be automatically cancelled. Additionally, canceling one of the orders will also result in the automatic cancellation of the other.
For example, if a user enters a long position at the price of USD 100, they can set a Stop Order at USD 110 to activate profit-taking and Limit Order at USD 105 to minimise potential loss. If the price hits USD 110, the Stop Order will be triggered, and the Limit Order will be automatically cancelled.
Please visit our Help Centre for additional information about placing an OCO order type on Spot and Margin.
Important Note on Margin Trading
YOU MUST SEEK PROFESSIONAL ADVICE REGARDING YOUR PARTICULAR SITUATION BEFORE CONDUCTING MARGIN TRADING. THE RISK OF LOSS IN FINANCING A TRANSACTION USING BORROWED VIRTUAL ASSETS CAN BE SUBSTANTIAL. YOU MAY LOSE ALL OR MORE THAN THE VIRTUAL ASSETS YOU PLACE TO SECURE THE BORROWED VIRTUAL ASSETS. YOU MAY BE CALLED UPON AT SHORT NOTICE TO MAKE ADDITIONAL VIRTUAL ASSET CONTRIBUTIONS. IF YOU DO NOT MAKE SUCH CONTRIBUTIONS WITHIN THE PRESCRIBED TIME, YOUR VIRTUAL ASSETS MAY BE LOST WITHOUT FURTHER NOTICE TO YOU. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH ARRANGEMENTS ARE SUITABLE FOR YOU IN LIGHT OF YOUR INVESTMENT OBJECTIVES, FINANCIAL CIRCUMSTANCES, YOUR TOLERANCE TO RISKS AND YOUR INVESTMENT EXPERIENCE. YOU SHOULD BE CAPABLE OF BEARING A FULL LOSS OF THE AMOUNTS INVESTED AS A RESULT OF OR IN CONNECTION WITH ANY ORDER AND ANY ADDITIONAL LOSS OVER AND ABOVE THE INITIAL AMOUNTS INVESTED THAT MAY BECOME DUE AND OWING BY YOU. IN CONSIDERING WHETHER TO TRADE OR INVEST, OR USE ANY MARGIN TRADING FACILITY OR OTHER SERVICE, YOU SHOULD INFORM YOURSELF AND BE AWARE OF THE RISKS GENERALLY, AND IN PARTICULAR SHOULD NOTE THE SPECIFIC RISK FACTORS WHICH MAY APPLY.