What is Order Book and How orders are executed

Order Book refers to the stream of quotes offered by our liquidity provider. It includes best Bid and Ask prices, and information about market depth.

Client orders are accepted by PrimeXBT as a service provider and placed to a queue to be executed in the order explained below:

  • Market orders are placed in the queue for execution upon their acceptance.

  • Pending orders are placed in the queue for execution when:

    • For a Limit and Take Profit buy order, the best Ask quote offered by a liquidity provider becomes equal or lower than the order’s limit price

    • For a Limit and Take Profit sell order, the best Bid quote offered by a liquidity provider becomes equal or higher than the order’s limit price

    • For a Stop and Stop Loss buy order, the best Ask quote offered by a liquidity provider becomes equal or higher than the order’s stop price

    • For a Stop and Stop Loss sell order, the best Bid quote offered by a liquidity provider becomes equal or lower than the order’s stop price

Once placed in the queue for execution, an order is executed on the ‘first come first served’ basis and filled with price quotes offered by a liquidity provider at the moment of execution:

  • Buy orders are filled with Ask quotes offered by a liquidity provider for the given order size

  • Sell orders are filled with Bid quotes offered by a liquidity provider for the given order size

PrimeXBT Chart candles reflect top-of-the-book Bid quotes offered at the time by our liquidity providers