This article is for clients using the Kraken Pro interface (pro.kraken.com).
With a wide range of order options, Kraken Pro offers a high level of flexibility for spot exchanging currency (with or without the use of margin*). When creating a new order, after selecting the currency pair, you will see the different options available for your order. With many order types available you can customize your trades and attempt to mitigate risk.
Back to Basics:
The three most basic elements of any order is to specify what is to be bought or sold, the size or volume of the order and how the order will execute relative to price. Below is a summary of the options in the order form that specify these three elements.
- 1Options specifying what is bought or sold: Buy/sell, currency pair and leverage.When using the Order form, the currency pair must be selected on the top left of the page. This is the currency pairing you will be submitting the order on.Some currency pairings allow the use of margin, this can be selected by clicking Margin before filling out your order details.
- 2Options specifying size/volume of the order: Amount and amount currency.
- 3Options specifying execution relative to price: The various order types and associated fields.
Also see other order options for more advanced options. *Availability of margin trading services is subject to certain limitations and eligibility criteria.