Hello INDODAX members,
We are happy to announce that INDODAX has launched a new trade engine on INDODAX platform as an effort to optimize system and service for better investment experience #AsetMasaDepan (#FutureAsset) to all INDODAX members.
This trade engine update accelerates the transaction process on INDODAX to be able to accommodate the number of transactions made by users when prices are highly volatile (up or down).
The new trade engine also includes a more stable INDODAX platform for buying and selling activities with the most comprehensive selection of coins on the market and the release of new features that will make buying and selling crypto assets easier and more secure.
Fill or Kill (FoK) feature
Fill or Kill (FoK) feature allows orders made by users to be performed entirely or not being carried out at all. This makes it easier for users to make transactions at a specific price and if the price is not available at that moment, the order will be canceled. However, this feature is only available on the Market Order method.
Slippage Protection Feature
In addition to the FoK feature, there is also a new feature in the Market Order method that can protect traders from low liquidity conditions in the market in the form of slippage. The term slippage in trading is when there is a difference between the expected price and the price charged when crypto assets transactions are being executed.
This usually happens when market volatility is high and Market Order feature is used as a method to buy or sell crypto assets, or when there is a large volume of transaction but insufficient volume of available assets.
The Slippage Protection feature is created to protect against low liquidity in the market by setting a limit on the acceptable price movement of crypto assets from the displayed price.
Example:
There is a request to purchase 6 BTC of Bitcoin using the Market Order. The inputted order will execute all available liquidity until there is sufficient 6 BTC.
Without Slippage Protection, users will pay more for Market Order execution of 6 BTC due to low liquidity. However, with Slippage Protection (example: 15%), users’ losses will be minimized so that only IDR 200,000,000 will be executed.
However, keep in mind that the slippage percentage set by each cryptocurrency exchange may differ from one another.
Input Quote & Base Currency feature
With this new feature, users can now enter the amount of crypto assets or Rupiah when buying or selling crypto assets.
Mobile Interface
Website Interface
With Previous Trade Engine
With New Trade Engine (Buy) With New Trade Engine (Sell)
Slider Percentage Feature
This feature allows users to enter the amount of crypto assets they want to buy using a sliding percentage.
With Previous Trade Engine
With New Trade Engine
For further information and queries, please contact INDODAX Customer Support via phone 021-506588888 (24 hours) or email at [email protected].
Regards,
INDODAX – Indonesia Bitcoin & Crypto Exchange
