The current contract copy trading for Toobit will calculate the overall profit and loss of followers from 00:00 (UTC) on Saturday to 23:59 (UTC) on Friday. The profit share will then be settled into the pro trader's spot account on Monday at 01:00 (UTC).
To ensure accurate profit calculation and distribution, pro traders can only open and close positions as Takers when placing orders.
There are three supported order types:
Market Order: A type of order where an asset is bought or sold at the current market price, without specifying a fixed price at the time of placing the order.
IOC (Immediate or Cancel): An IOC order requires that the order is executed immediately upon submission. If it can't be executed immediately, the unfilled portion is canceled. By using an IOC order, traders can quickly buy or sell assets at the best available price in the existing market depth. The IOC order guarantees that the trader will only receive the current best available price on the market.
FOK (Fill or Kill) : A FOK order requires the entire order to be executed immediately, otherwise, the order will be canceled. FOK orders help to minimize market costs and risks by ensuring that the trade is executed as fast as possible, with a guarantee of price and time. Since FOK orders cannot be partially filled, the order's size must match the number of assets in the order. If the order can't be completely filled, it will be canceled.