Iceberg orders are when a big buy or sell order is split into many smaller orders. This approach helps when making a large trade in a smaller or less active market, where even small trades can affect the price of an asset. By breaking up the order, iceberg orders help hide the full size of the trade and reduce the risk of causing noticeable price changes, making it easier to get better prices.
In the Iceberg section, select the product and trading pair you want to trade using the top menu. You can use the trading bot in the spot, perpetual, futures, margin, and options markets. Select your desired instrument and then the trading pair from the list
Checklist
- How do I place iceberg orders?
- Open your OKX app, go to Homepage and select Trade
- Select Trade from the homepage
- In the Trade menu, select Trading bots
- Select Trading bots from the trade menu
- To enter iceberg mode, select Iceberg from the Slicing bots option
- Select the Iceberg bot under the Slicing bots section
- Load the list of crypto and select your preferred type
- Proceed to select your preferred order preference
- Then, select Buy (long) or Sell (short) to place your iceberg trade
- Lastly, you can see the overview of the running iceberg strategy at the bottom and select details to view more information
Notes
Next, enter the order amount of each limit order you want to place and the number of visible orders, defining how many orders will be placed on the order book. And, enter the order amount as the total amount you want to place with the iceberg order
Insert the important details before you place your order
We also provide access to Advanced settings, which is optional. Within this menu, you can choose from different order preferences, including quick execution, price-speed balance, and passive queuing. The default mode is set at price-speed balance. You can also define the desired limit price to control the overall cost. Also, you can select different trigger types for the Start condition from instant, price, and RSI-14
View the status of your running iceberg strategy after the trade settings area
Details follow the official OKX help article; this page is a learning checklist, not an official mirror.
