What are derivatives in Binance? A derivatives Binance is a financial contract based on the speculated future value of an underlying asset. Unlike a spot trade, a derivatives trade does not directly involve the asset. What Is Open or market Order? An Open /market order is an order to quickly buy or sell at the best available current price. It needs liquidity to be filled; meaning that it is executed based on the limit orders that were previously placed on the order book. Unlike limit orders, where orders are placed on the order book, market orders are executed instantly at the current market price, meaning that you pay the fees as a market taker. How To Use Open/market Order? Example: You want to create a market/ open order to buy 2 Binance Coins (BNB). After login in to your Binance account, choose the BNB market you want (e.g., BNB/USDT) and go to the trading page. Then, choose the Market order tab which is your open order, set the amount to ...
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