Placing orders

How to buy and sell YES and NO shares, choose between market and limit orders, and cancel open orders.

How shares work

Every market has two outcomes: YES and NO. You trade shares of an outcome.

A share is priced in cents, from 1¢ to 99¢. The price is roughly the market’s estimate of the chance that the outcome happens. A YES share at 63¢ means the market sees about a 63% chance.
If your outcome wins, each share pays $1. If it loses, the share pays nothing.
You can sell shares before the market ends. The price you get depends on what other traders are bidding at that moment.

Buy or sell from the trade panel

Open a market and pick YES or NO.
Choose Buy or Sell.
Choose Market or Limit (see below).
Enter an amount in dollars or a number of shares.
Review the ticket and confirm.

To close a position you hold, switch to Sell in the trade panel. You can also press Sell on the position in your portfolio.

The panel opens on Market by default. It remembers the order type you used last.

Market and limit orders

Order type	What it does
Market	Fills right away at the best prices available.
Limit	Sets your own price. It fills only when the market reaches that price, and waits as an open order until then.

For a limit order, the price must be between 1¢ and 99.9¢.

A market order can fill at several prices if you buy more than the best offer holds. The Max slippage setting limits how far from the best price you are willing to go.

Some markets do not offer limit orders. In that case the Limit option is disabled.

Minimum order size

Venues set minimum order sizes. Currently, Polymarket requires at least $1.00 per order, and many Polymarket markets also require a minimum number of shares. If your order is too small, the ticket tells you the minimum and blocks the order until you adjust it.

Fees on the ticket

The ticket shows the Doxa platform fee and, where the venue charges one, the venue fee before you confirm. The review window shows the total cost of a buy or the estimated proceeds of a sell. Fees are included in those totals.

High slippage warning

If an order is large compared with what is on offer, it could fill well away from the best price. When that happens, Doxa shows a High Slippage window before the order goes out. It shows:

The average price you would get, next to the best price.
How much worse the average is than the best price.
If the book is too thin, the share of the order that can actually fill.

You can then:

Confirm anyway to place the order as it is.
Cancel to go back and change it.
Switch to limit at best price (or Set limit to best price if you are already on a limit order) to wait for a better price.

The figures are estimates. Prices can move before your order reaches the venue.

Order lifecycle

After you confirm, your order moves through these states. You see them in My Orders while the order is working, and in Trade History once it is finished.

Submitting… — your order is on its way to the venue.
Open — a limit order is resting and waiting for its price.
Partial — part of the order has filled. The percentage shows how much.
Settling… and Confirming… — a fill has happened and is being finalised. These usually clear quickly.
Filled — the whole order is done.
Cancelled, Expired or Failed — the order ended without filling in full.

Market orders normally fill at once, or not at all. Limit orders can stay open for a long time. Currently Doxa does not put its own expiry date on limit orders, but an order cannot fill after its market closes.

Cancel an open order

Go to My Orders in your portfolio.
Press Request cancel on the order. You can also press Request cancel all.

The button says “request” because the venue may fill your order before it processes the cancel. If that happens, the order is filled and not cancelled. While a cancel is being retried the row shows Retrying cancel….

You cannot cancel an order that still shows Submitting…. Wait a moment and try again.

Trading limits

These limits apply to your account. They are current values and may change.

Open orders: currently up to 50 at a time.
Daily buying: currently up to $100,000 of buy orders per day (the day is counted in UTC).

If you reach a limit, the order is refused with a message and nothing is spent.