Iceberg Order on Kraken for HyperCopy Subscribers

10 March, 2023


We are excited to announce that we have introduced a new order type called Iceberg orders, which is now available exclusively to our HyperCopy subscribers. This new order type is designed to help traders execute large quantity orders in a more efficient manner while minimizing market impact.

How do Iceberg orders work?

An Iceberg order is a type of limit order that allows traders to place a large order, which is then automatically broken down into smaller limit orders and executed over time. The smaller orders are placed at the same price level as the original order, but only a portion of the order quantity is revealed to the market at any given time.

For example, if you want to buy 100 BTC at a price of $50,000, you can place an Iceberg order with a disclosed quantity of 10 BTC. This means that only 10 BTC will be visible to the market at any given time, and once that order is filled, another 10 BTC order will be automatically placed at the same price level until the full order is executed.

How does this help traders?

The primary benefit of Iceberg orders is that they allow traders to execute large orders without significantly impacting the market. When a large order is placed, it can often cause a spike in price or volume as other traders react to the market imbalance. By breaking the order down into smaller, hidden orders, the impact on the market is minimized, and the trader can execute the order more efficiently.

Iceberg orders also provide an additional layer of privacy for traders. Since only a portion of the order is visible at any given time, it is more difficult for other traders to determine the trader's overall position or trading strategy.

We are confident that Iceberg orders will be a valuable addition to HyperTrader and will help our users execute large quantity orders more efficiently. If you are a HyperCopy subscriber and trade on Kraken, you can start using this new order type today.

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