How to set a limit order on Kraken

On Kraken, limit orders let you buy or sell crypto at a specific price, giving you control over execution without constant monitoring.

Aug 03, 2025 at 05:36 am

Understanding Limit Orders on Kraken

A limit order allows traders to buy or sell a cryptocurrency at a specific price or better. On Kraken, one of the most trusted cryptocurrency exchanges, placing a limit order gives you full control over the execution price. Unlike market orders that execute immediately at the current market rate, limit orders only fill when the market reaches your specified price. This is especially useful for traders aiming to enter or exit positions at desired levels without constant monitoring. When you set a limit order on Kraken, you define the maximum price you’re willing to pay when buying or the minimum price you’ll accept when selling.

Accessing the Kraken Trading Interface

To begin setting a limit order, log in to your Kraken account at www.kraken.com. Once logged in, navigate to the "Trade" tab located in the top menu. This will take you to the advanced trading interface. From there, select the trading pair you want to trade—such as BTC/USD or ETH/EUR—using the pair selection dropdown. The trading chart and order book will update accordingly. Ensure your chosen pair supports limit orders, which is standard for all major pairs on Kraken.

Filling Out the Order Form

On the right-hand side of the trading interface, you'll see the order entry panel. This panel contains fields for order type, price, and volume. To set a limit order, follow these steps:

• Select "Limit" from the order type dropdown menu.
• Enter your desired price in the "Price" field. This must be the exact rate at which you want the order to execute.
• Input the amount of cryptocurrency you wish to buy or sell in the "Amount" field.
• Optionally, set advanced conditions such as post-only (to ensure you're a maker, not a taker) or reduce-only (to prevent increasing an existing position).

The total cost (for buys) or proceeds (for sells) will be displayed below. Double-check all values before proceeding.

Reviewing and Confirming the Order

After entering your order details, Kraken will display a preview. This preview includes:

• The order type (Buy or Sell Limit)
• The price per unit
• The total quantity
• The estimated total value
• Applicable fees, which depend on your fee tier and whether you're a maker or taker

Click the "Review Order" button to proceed. A pop-up will appear summarizing your order. Verify that the price and amount are correct. If everything looks accurate, click "Place Order" to submit it to the order book. Your order will now appear in the open orders section.

Monitoring and Managing Open Limit Orders

Once your limit order is placed, it will remain in the order book until it is filled, canceled, or expires. To view your open orders, go to the "Open Orders" tab located beneath the order entry panel. Here, you can:

• See the status of your limit order
• Cancel the order manually if market conditions change
• Check the remaining volume if a partial fill has occurred

You can also set an order expiration, such as "Good Till Cancelled (GTC)" or "Immediate or Cancel (IOC)", depending on your strategy. GTC is the default and keeps your order active until you cancel it or it fills. IOC attempts to fill your order immediately with any unfilled portion canceled.

Strategies for Effective Limit Order Usage

Using limit orders effectively requires understanding market depth and liquidity. Check the order book on Kraken to see current bid and ask prices. Placing a buy limit order significantly below the current market price may result in the order never filling. Conversely, a sell limit order set too high might not execute during volatile movements. Traders often use limit orders to:

• Enter positions at support or resistance levels
• Take profits at predefined price targets
• Avoid slippage in fast-moving markets

For example, if Bitcoin is trading at $40,000 but you believe it will dip to $39,000 before rising, you can set a buy limit order at $39,000. If the price reaches that level, your order executes automatically.

Security and Account Requirements

Before placing any orders, ensure your Kraken account is fully verified and secured. Two-factor authentication (2FA) is mandatory for all trading activities. Withdrawals and large trades may require additional verification steps. Also, confirm that you have sufficient funds in your account. For a buy limit order, you need enough quote currency (e.g., USD, EUR). For a sell, you need the base cryptocurrency (e.g., BTC, ETH). If funds are in a different wallet (such as a staking wallet), you must transfer them to your trading wallet first.

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Frequently Asked Questions

Can I modify a limit order after placing it on Kraken?

No, Kraken does not allow modification of existing limit orders. If you need to change the price or amount, you must cancel the original order and place a new one. To cancel, go to the "Open Orders" tab, locate your order, and click the "Cancel" button.

Why didn’t my limit order execute even though the market reached my price?

Even if the market price touches your limit price, execution depends on order book depth and timing. If there are not enough matching orders or your order is too small to fill completely, it may only partially execute or not at all. Additionally, market volatility can cause prices to gap past your limit without triggering a fill.

Do limit orders on Kraken incur fees?

Yes, fees apply based on whether your order acts as a maker or taker. If your limit order adds liquidity (maker), you receive lower fees. If it removes liquidity by matching an existing order (taker), fees are higher. Fee rates are visible in your account under "Fees & Pricing" and vary by trading volume.

Can I set a limit order on the Kraken mobile app?

Yes, the Kraken mobile app supports limit orders. Open the app, tap the "Trade" tab, select your trading pair, choose "Limit" as the order type, then enter price and amount. Confirm the details and tap "Buy" or "Sell" to place the order. The process mirrors the desktop version with a streamlined interface.