Why can someone place an order for currency trading (will there be a commission for unexecuted currency orders)?
Why can someone place an order for currency trading? In digital currency trading
Why can someone place an order for currency trading? In digital currency trading, there are two modes. One is placing an order (Claim) and the other is completing transactions without intermediaries. This method is called order matching or settlement, where both the buyer and seller transfer funds and complete transactions through an account. When you open an order, your seller will automatically place an order for you. If someone is not willing to do so, you can choose to directly use the payment for the purchase to implement it. This system allows users to quickly execute bids, quotes, and other actions without depositing money into the platform first and then being charged a commission by the platform.
Why can people also place orders for currency trading? This is similar to the business logic of traditional financial markets. We often hear banks, securities companies, and other enterprises put customers at a counter, where the employees of these companies act as their bosses. They usually need to pay a certain fee for a merchant, such as providing sales points for some small and micro businesses, in order to custody certain types of companies. Such services generally require high-frequency quantitative traders to manage long or short positions. However, with the development and maturation of the market, more and more institutions are starting to accept cryptocurrencies as investment tools, so there will be more exchanges. So, what exactly is “placing an order”? Let’s briefly explain it: How do you know “placing an order”? In fact, many people may not know, because the so-called “placing an order” is registered with a WeChat account, but in fact, it is just a form of user identity verification. (Of course, many friends may not ask, since they are not practitioners in the blockchain industry, does it mean that everyone has already reached the technical level)?
Will there be a commission for unexecuted currency orders?
Binance Exchange recently launched a digital currency trading pair “BCH/USDT”, which had a large transaction on the platform but no execution and still required a commission. This is familiar to users because this service is a new type of digital asset based on the development of Ethereum, which can provide a better experience and convenience for digital currency trading. Additionally, due to differences in price fluctuations between digital currency and fiat currency, as well as different regulations in different countries, it is impossible to ensure that the prices between the buyer and seller are consistent or that differential exchanges can be made. (Blockwave)
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