Here, we will explain the limit order setting options "Post - Only GTX" and "Reduce Only".
1. Post-Only GTX
If the price suddenly becomes lower or higher than expected when you place an order, there is a possibility that the market order will be processed even though you placed a limited order.
If you set "Post-Only GTX" when placing a limit order, you can avoid the above situations. In other words, it is possible to avoid the situation where the taker fee is higher than the maker fee.
If you set "Post-Only GTX", if the limit order is treated as a market order, the order itself will be canceled. If you want to avoid expensive taker fees, please use "Post-Only GTX".
2. Reduce Only
"Reduce Only" is a function to prevent "I got an unintended position due to a click mistake".
If you check "Reduce Only", you will not have a new position, so only the position you currently have will be settled.
For example, if you have a long position, you will not be able to open a new long position, and you will only be able to sell (short).
On the other hand, if you have a short position, you cannot open a short position and can only buy (long).
If you want to prevent erroneous operations, please use the "Reduce Only" function.