Felix offers 4 order types for most trading pairs and this is how they work:
1. Market Order
When you elect to buy or sell an asset at the best available price in the current market. This is equivalent to a spot purchase: whatever the prevailing market price at the time the order is placed is the price at which the order will (most likely) execute.
2. Limit Order
Executes at a user-specified price. Buy limit orders will only execute at the limit price or lower, whereas sell limit orders will only execute at the limit price or higher.
3. Stop-Limit Order
Limit order that has a stop price. When the stop price is reached, it triggers the limit order. The limit price is the specific price of the limit order the stop price triggers.
An OCO order on Felix consists of a stop-limit order and a limit order with the same order quantity. Both orders must be either buy or sell. If a trader cancels one of the orders, the entire OCO order pair is canceled.