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A Stop Market order will execute a market order for a given quantity when specified conditions are met. You can specify a trigger price to activate the order. There are two types of Stop Market orders: Stop Loss Market or Take Profit Market Order.
*Due to extreme market movements, the executed price of the market order may be lower or higher than the last traded price that the user may have seen. Please take into account market depth and price fluctuations.
Example:
A buy order triggered at a price of 67267.13, but executed at a price of 67287.98.
How to place a stop-market order?
You can go to [Trade] - [Spot] and select [Stop Market] from the order type drop down menu.
The Stop Loss Market or Take Profit Market order details can be found in the [Orders] tab of the Trading page.
How can I see the stop market order(s) placed on the Kline chart?
To display the stop market order(s) placed on the Kline chart, please go to [Trade] - [Spot] and press the Kline chart icon.
Then press the [Chart Settings] icon and you will be able to select the [Stop Market] orders under the [Order Display] section.
Stop market orders are also available via the API. Once the Spot market supports the STOP market order, the “orderType” field of exchangeInfo endpoint would show "STOP_LOSS" and "TAKE_PROFIT". Please refer to the Spot API docs for more details.
Note: When you place a Stop-Loss market order or a Take-Profit market order, the calculation is based solely on the last price of the trading pair. However, during execution, the order fulfillment will depend on the quantities and specific prices available in the order book. Consequently, if the order utilizes the entire available balance in the account, it may be canceled if the required balance for execution exceeds the initially calculated balance.
To learn more about Binance spot trading, visit the Spot Trading FAQs page.