Probably you have heard already about “Maker” and “Taker” orders. In this guide, we are going to explain to you what is the difference between these two types of orders.
One of the main aspects where it differs is fees. Maker's fees are usually lower than takers. By creating a “Maker order” you provide the orderbook with liquidity (it means you create the order that may be matched in the future. You don’t ask to execute your order immediately thus creating supply on the marketplace).
In the case of the “Taker” order, you consume the orderbook liquidity by taking an order from the book of orders, that’s why it’s called “Taker”.
Currently, at LATOKEN, there is no difference in fees for spot trading between maker and order.
By placing an order that won’t be executed immediately you become a “maker” providing liquidity and waiting until someone will fill your order.
In the case of “Taker,’’ you place an order that will be matched instantly with the already existing order from the orderbook.