What Is Spot Trading?
How Do I Open the Spot Trading Screen?
Step 1: Log in to the Phemex App
Open the Phemex App and log in to your account.
Step 2: Open the spot trading page
Tap the icon in the bottom navigation bar to enter the spot trading screen.
Step 3: Select a trading pair
Tap the menu at the top left to view all spot pairs. The default is BTC/USDT. If the list shows Favorites, switch to the ALL tab to see all available pairs, then select the one you want to trade.
How Do I Place a Market Order?
A market order executes immediately at the best available price.
Step 1: Open Market order tab
After selecting your pair, tap Buy or Sell. then tap the Market order tab near the center of the screen.
Step 2: Enter the order amount
Enter the value in USDT in the Amount field. A counter shows how much of the target crypto you'll receive. Alternatively, tap By quantity to enter the target crypto amount directly — the counter then shows the USDT cost.
Step 3: Confirm the order
Tap the Buy/Sell button. Your order is executed immediately at the best available market price. Check your updated balances on the Assets page.
How Do I Place a Limit Order?
A limit order lets you set a specific price and executes only when the market reaches it.
Step 1: Open Limit order tab
After selecting your pair, tap Buy or Sell, then tap the Limit order tab near the center of the screen.
Step 2: Enter your limit price
Enter your desired execution price in the Price field.
Step 3: Enter the order amount
Enter the value in USDT in the Amount field, or tap By quantity to enter the target crypto amount directly.
Step 4: Confirm the order
Tap the Buy/Sell button. Your order is posted to the order book and stays there until the limit price is reached. Track fill status under the Orders section on the same page.
How Do I Place a Conditional Order?
A conditional order uses a trigger price to automatically place a market or limit order when the market reaches a level you set.
Step 1: Open Conditional order tab
After selecting your pair, tap Buy or Sell, then tap the Conditional order tab near the center of the screen.
Step 2: Choose Market or Limit as the triggered action
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Market — When the trigger price is hit, an immediate market order is placed at the best available price.
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Limit — When the trigger price is hit, a limit order is placed at the price you set.
Step 3: Enter the trigger price
Enter your trigger price in the Tri. Price field. If you chose Limit, also enter your limit execution price in the Price field.
Step 4: Enter the order amount
Enter the value in USDT in the Amount field, or tap By quantity to enter the target crypto amount directly.
Step 5: Confirm the order
Tap the Buy/Sell button. The order activates only when the trigger price is reached, then behaves as a market or limit order based on your selection.
What Are the Order Types Compared?
| Order Type | When It Executes | Best For |
| Market | Immediately at the best available price | Fast entry / exit when speed matters more than price |
| Limit | When market price reaches your set price | Buying lower or selling higher than the current price |
| Conditional (Market) | Triggered at your set price, then fills at market | Stop-loss or breakout entry |
| Conditional (Limit) | Triggered at your set price, then posts a limit order | Precise entry / exit with both a trigger and target price |
FAQ
Q: What's the difference between "By Amount" and "By Quantity"?
A: By Amount lets you specify how much USDT to spend, and the system calculates how much crypto you'll receive. By Quantity lets you specify how much crypto you want, and the system calculates the USDT cost. Both reach the same result — pick whichever is more intuitive for the trade.
Q: Can I cancel an unfilled limit or conditional order?
A: Yes. Open the Orders section on the trading screen, find the open order, and cancel it. Market orders cannot be canceled because they execute immediately.
Q: Do I need to keep the app open for a limit or conditional order to execute?
A: No. Once an order is placed, it stays active on Phemex's servers and will execute automatically when the conditions are met, even if the app is closed.
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