What order types are available?
OG.com offers three order types: Quick order ($), Quick order (#), and Limit order.
What is a Quick order?
Quick orders are built for speed. They fill immediately against available liquidity and are placed on an Immediate-or-cancel (IOC) basis, meaning any portion that can't fill right away is canceled.
There are two types:
Quick order ($): You specify how much to spend. The order buys as many contracts as that amount will cover at the current prices.
Quick order (#): You specify how many contracts you want. The order fills as many as possible at the current prices.
A quick order can fill across multiple price levels in the order book, so your average execution price may differ from the displayed price:
When buying, your average fill price is often equal to or lower than the displayed price (i.e., you could pay less)
When selling, your average fill price is often equal to or higher than the displayed price (i.e., you could receive more)
What is a Limit order?
Limit orders are built for price control. They are placed on a Good-til-canceled (GTC) basis, meaning your order stays open until it fills or you cancel it.
You choose the price per contract, between $0.01 and $0.99, and the number of contracts. Your order will never be filled at a price worse than the one you set.
If only part of your order fills, you get a position for the filled part and the rest keeps resting
If the market resolves while your order is resting, the unfilled portion is canceled automatically
Limit orders are not available for combos.
How do Quick orders work on certain markets?
For certain markets, Quick orders are submitted as a Market order (MO) with protection on an Immediate-or-cancel (IOC) basis. This includes a built-in slippage tolerance: a preset number of points, expressed as a dollar value, away from the displayed price.
If the market moves within the tolerance, the whole or partial order fills at the best available prices. If it moves beyond the tolerance, any unfilled portion is canceled.
This may result in your trade amount being slightly less than intended, but ensures you're never filled at a price significantly worse than expected.
Markets with MO protection
Market | Slippage tolerance |
Crypto predictions with durations of 5 minutes (if applicable), 20 minutes, 2 hours, daily, and weekly | Up to $0.05 per contract |
Sports predictions when the event is live | Up to $0.05 per contract, scaled by the contract's live price (see below) |
Slippage tolerance for live sports
Contract price | Slippage tolerance |
$0.00 – $0.10 | Up to $0.01 per contract |
$0.11 – $0.20 | Up to $0.02 per contract |
$0.21 – $0.30 | Up to $0.03 per contract |
$0.31 – $0.45 | Up to $0.04 per contract |
$0.46 – $0.55 | Up to $0.05 per contract |
$0.56 – $0.70 | Up to $0.04 per contract |
$0.71 – $0.80 | Up to $0.03 per contract |
$0.81 – $0.90 | Up to $0.02 per contract |
$0.91 – $1.00 | Up to $0.01 per contract |
Availability of order types may vary by jurisdiction and is subject to applicable law.
Will my order always be fully filled?
Not always. It depends on the order type and available liquidity. The example below shows how the same order book plays out differently for each order type.
Example
You want to buy contracts. The order book shows:
500 contracts at the best ask price of $0.10
416 contracts at the next price level of $0.12
Scenario 1: You place a Quick order ($) for $100
500 contracts at $0.10 = $50.00
416 contracts at $0.12 = $49.92
Total cost ≈ $99.92
Average price ≈ $0.11 per contract
Scenario 2: You place a Quick order (#) for 1,000 contracts
500 contracts at $0.10 = $50.00
416 contracts at $0.12 = $49.92
Remaining 84 contracts canceled (no more liquidity)
Total cost ≈ $99.92
Average price ≈ $0.11 per contract
Scenario 3: You place a Limit order for 1,000 contracts at $0.10
500 contracts at $0.10 = $50.00
Remaining 500 contracts rest on the order book at $0.10
Nothing fills at $0.12 because it's above your set price
You can cancel the resting portion at any time from Portfolio > Orders
Disclaimer: Trading involves risk and may not be appropriate for all. By trading you risk losing all of your money used to enter any transaction, including fees. You should carefully consider whether trading is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk.