FAQ (Order Types and Trading)
What's the difference between market and limit orders?
Think of it like buying something online vs negotiating a price:
Market Orders - "Buy it now"
You buy/sell at whatever the current price is
If the market shows 55%, you'll pay 55¢ per share
Your trade happens instantly
You get the current market price, no questions asked
Limit Orders - "I'll pay this much"
You set your own price
Example: Market is at 55¢, but you only want to buy the shares at 50¢
Your order sits there waiting until someone is willing to sell at 50¢
If nobody sells at your price, your order doesn't get filled
Real example: It's like eBay vs a regular store. Market order = buying at the store price. Limit order = making an offer and waiting to see if someone accepts.
Can I cancel my orders?
While you can sell your shares, you can only cancel unfilled Limit orders For filled orders (shares you already own):
You can sell your shares anytime before the market closes
Just go back to the trading panel and sell at current market price
This lets you lock in profits or cut losses
For unfilled limit orders:
You can cancel them anytime
Your funds get returned to your wallet immediately
No penalties or fees for canceling
Bottom line: You're never truly stuck in a position on Fliq! Check this tutorial to see how you can sell your shares : https://youtu.be/Y94NyzNvseo?feature=shared
What are XPs and how do I earn them?
XPs are part of our rewards program - basically we give you points for being active!
How you earn XPs:
Every trade gets you XP points
Limit orders get you bonus XPs (more than market orders)
Trading streaks give you XP boosts (trade multiple days in a row)
Special events sometimes have XP multipliers
Why XPs matter: They're part of our loyalty program and can lead to rewards and benefits.
Check out our detailed XP guide to see exactly how many points you get for each activity and what rewards you can unlock!
How does the orderbook work?
The orderbook shows you exactly what's available before you trade:
What you'll see:
Current prices for both Yes and No shares
How much liquidity is available at each price point
Buy and sell orders from other traders
Before placing any trade:
Check the orderbook to see available prices
Look at how many shares are available at each price
This helps you decide between market or limit orders
Pro tip: If you see good liquidity (lots of shares available) at the current price, a market order works great. If liquidity is thin, consider a limit order to get a better price.
The orderbook is basically your window into what other traders are doing - use it to make smarter trading decisions! Refer this tutorial for more details : https://youtu.be/u1lrNBvxvpA?feature=shared
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