> ## Documentation Index
> Fetch the complete documentation index at: https://docs.tc.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Order types

> Learn the order types TrueCurrent supports, including RFQ fills, take profit, stop loss, and signed intents.

TrueCurrent's execution model is RFQ-only. On every trade, the system solicits competitive signed quotes from professional liquidity providers and fills at the best available price – with zero taker fees. Conditional trigger orders (TP/SL) automate exits using the same RFQ quote path. This page documents every order type, what guarantee it carries, and when to reach for it.

***

## Execution model overview

| Execution path  | Who fills              | Price guarantee                | Taker fee |
| --------------- | ---------------------- | ------------------------------ | --------- |
| RFQ             | Competing makers       | `worst_price` enforced onchain | Zero      |
| Trigger (TP/SL) | TP/SL executor via RFQ | `worst_price` in signed intent | Zero      |

***

## RFQ fill (primary)

Every trade on TrueCurrent is an RFQ. When you submit a trade, the indexer broadcasts the request to all registered makers. Makers respond with signed quotes inside a short collection window. The best executable quote wins and settles onchain in a single atomic transaction.

**When it executes:** immediately on trade submission; fills after quote collection and onchain settlement.

**Price guarantee:** `worst_price` is enforced onchain. If the market moves beyond that limit before settlement, the trade fails rather than fill at a worse price.

**When to use:** always – this is the path for every trade opened or closed through the UI or API.

**Zero taker fees apply to RFQ fills.** The configured maker fee is paid by the liquidity provider who fills the trade; the taker pays no protocol fee.

See [Price tolerance](/trading/slippage-and-worst-price) for how to set `worst_price` and recommended tolerance ranges. See [How RFQ works](/technical/how-rfq-works) for the full protocol detail.

***

## Take profit (TP)

A take profit order closes your position automatically when the price reaches a favorable level you specify in advance.

* **Long TP:** triggers when the mark price rises to or above your target
* **Short TP:** triggers when the mark price falls to or below your target

**When it executes:** when the mark price crosses your trigger level; the TrueCurrent TP/SL executor executes `AcceptSignedIntent` onchain and closes the position at the best available quote.

**Price guarantee:** your `worst_price` in the signed intent is enforced; the exit will not settle at a less favorable price than your limit.

**When to use:** to lock in gains automatically without watching the market; can be set at position open or added later.

**Trigger evaluated against:** mark price, not quoted price. The contract re-evaluates the trigger at execution time.

See [Trigger orders (TP/SL)](/trading/trigger-orders) for setup instructions and worked examples.

***

## Stop loss (SL)

A stop loss order closes your position automatically when the price moves against you to a level you specify.

* **Long SL:** triggers when the mark price falls to or below your stop price
* **Short SL:** triggers when the mark price rises to or above your stop price

**When it executes:** same as take profit - the TP/SL executor fires `AcceptSignedIntent` when the trigger condition is satisfied.

**Price guarantee:** `worst_price` in the signed intent is enforced. In a fast-moving market, if no maker can beat your `worst_price`, the order may fail rather than settle at a worse price.

**When to use:** to cap downside automatically; essential protection for leveraged positions held overnight or during high-volatility periods.

<Warning>
  At high leverage, a stop loss set too close to your entry can be triggered by normal price movement. Leave enough room for routine volatility while still limiting meaningful downside. See [Managing risk with TP/SL](/trading/trigger-orders#managing-risk-with-tpsl).
</Warning>

See [Trigger orders (TP/SL)](/trading/trigger-orders) for setup instructions. For programmatic use, see [Taker SDK trading](/sdk-trading/takers).

***

## Signed intents (programmatic)

A signed taker intent is a pre-authorized, conditional trade instruction that you sign offline and submit to the TrueCurrent TP/SL executor. When the trigger condition is satisfied (mark price crosses a threshold, or immediately), the executor submits `AcceptSignedIntent` onchain and settles the position.

**When it executes:** when the mark price satisfies the trigger (or immediately for `{ "immediate": {} }` trigger); relies on the executor monitoring mark price.

**Price guarantee:** `worst_price` in the intent is enforced by the contract.

**When to use:** when you cannot be online at the exact moment a trade should fire; the canonical mechanism behind TP/SL orders; also used by programmatic takers building automated strategies.

**v1 constraints:**

* Exit/protective flow only — `margin` must be `0` (cannot open new positions via signed intent)
* `unfilled_action` must be `null`
* Maximum deadline: 30 days from signing

See [Taker SDK trading](/sdk-trading/takers) for the SDK-level signed-intent flow.

***

## What TrueCurrent does not offer

<Note>
  This list is for traders arriving from platforms with a full CLOB order type suite. Understanding what TrueCurrent does not offer prevents building integrations against order types that do not exist.
</Note>

| Order type                             | Status                  | Note                                                                                                                                                                                          |
| -------------------------------------- | ----------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| Resting limit orders                   | **Available**           | TC has a collapsible order book for users that wish to place limit orders                                                                                                                     |
| Order book market / limit fallback     | **Not available**       | Every trade is RFQ-only; partial-fill quantity is simply not traded                                                                                                                           |
| TWAP (time-weighted average price)     | **Not available**       | TC has no native TWAP execution; replicate externally by splitting trades over time via the API                                                                                               |
| Scale / ladder orders                  | **Not available**       | No built-in order scaling; implement by submitting multiple individual trades                                                                                                                 |
| Iceberg orders                         | **Not available**       | Full quantity is broadcast to all makers on each RFQ                                                                                                                                          |
| Isolated-margin order forms            | **Not available**       | TrueCurrent uses isolated margin for all positions by default. There is no separate order form for switching between isolated and cross margin. See [Margin trading](/trading/margin-trading) |
| Post-only / maker-only limit orders    | **Not available**       | TC's primary execution is RFQ; makers are institutional liquidity providers, not retail users posting to the book                                                                             |
| Fill-or-kill (FOK)                     | **Not available**       | Partial fills are handled by the contract's quote-by-quote consumption; there is no FOK mode                                                                                                  |
| Immediate-or-cancel (IOC)              | **Not available**       | RFQ collects quotes within a window and fills the best available; the closest analogue is a tight `worst_price`                                                                               |
| Conditional (price-alert) entry orders | **Not available in v1** | Signed intents v1 is exit/protective flow only; entry intents may be added in a future version                                                                                                |

***

## Related pages

* [Trigger orders (TP/SL)](/trading/trigger-orders) — UI setup and worked examples
* [Price tolerance](/trading/slippage-and-worst-price) — setting `worst_price` and tolerance ranges
* [How RFQ works](/technical/how-rfq-works) — RFQ protocol detail, timing, and validation
* [Taker SDK trading](/sdk-trading/takers) — SDK flow for programmatic trading and signed intents