Execution Rules and Order Types

What types of orders are available for crypto?

Webull supports the following order types for cryptocurrency trading:

Market Orders

• Buy or sell crypto at the current market price.
• The final execution price may differ slightly from the displayed price due to market fluctuations.
• Market orders are Immediate or Cancel (IOC); if not filled within 5 seconds, any unfilled portion will be automatically canceled.

Limit Orders

• Buy or sell crypto at a specified price or better.
• For buy orders: sets the maximum price you're willing to pay.
• For sell orders: sets the minimum price you're willing to accept.
• Useful for targeting specific prices, but execution is not guaranteed if the market does not reach your set price.

Stop Limit Orders

• A two-part order that activates when the stop price is reached.
• Once triggered, it becomes a limit order at the price you set.
• Executes only if the market reaches the stop price and then trades at your limit price or better.

When will my crypto day order be canceled if it has not been filled?

The expiration time for unfilled crypto day orders depends on your location.

• Customers outside of New York, Guam, and the Northern Mariana Islands: Day orders automatically expire at 4:55 PM ET if not filled.
• Customers in New York, Guam, and the Northern Mariana Islands Day orders automatically expire at 5:30 PM ET if not filled.

Note: Once a day order expires, any held funds will be released back to your available balance.

Why hasn't my crypto order been filled?

Crypto orders on Webull are processed using a market maker model, not a traditional exchange. This means pricing and execution differ from exchange-based trading. Key reasons your order may not have been filled:

• Limit Buy Orders: Must match or beat the current ask price to be eligible for execution.
• Limit Sell Orders: Must match or beat the current bid price to be eligible for execution.

Even if a recent market price touches your limit, execution is not guaranteed under this model.

Note: Crypto trading is not regulated by FINRA, the SEC, the FDIC, SIPC, or any exchange or exchange member.