What are Conditional Orders?

Conditional orders are one of the three types of orders that you can place on Phemex.com.

Conditional orders are automatically submitted once a specified criterion is met. To activate these orders, you must specify a trigger price (TP) based on either the Last Traded Price or the Mark Price.

You can further specify whether you want your order to execute with a specific Limit Price or at the Market Price at the moment your trigger price is reached.

This type of order is generally used with advanced strategies by experienced traders.