A canceled order is a previously submitted order to buy or sell crypto that gets canceled before it executes on an exchange.
Some examples include:
- If your order is ‘Immediate or Cancel,’ after the order matches against the book, any remaining shares will be canceled back. Similarly, if you place a ‘Fill or Kill’ order, you are instructing the exchange to either execute the entire order or cancel it back to you if all sizes cannot trade.
- The duration of your order could also result in a cancellation if it has not been filled by the expiration date.
Limit and stop orders may stand for hours or days before being filled depending on price movement, so these orders can logically be canceled without difficulty. Market orders are a type of order that is very unlikely to be canceled.