On the “Buy” and “Sell” column at Indodax.com, you will see terms like “Maker”, “Taker”, and “Stop Order” just like this:

Market Maker

‘Maker’ is a Indodax member just like you who sell and or buy Bitcoin with their own price, or in another words using the ‘Limit’ method. Let’s say the current Bitcoin price is 5.000.000 IDR/BTC. You want to buy about 100.000 IDR at the price 4.000.000/BTC by entering it in the ‘Buy Bitcoin’ box. When you click on the ‘BUY BITCOIN’, your buy order will be on pending until the bitcoin price fall to 4.000.000 IDR/BTC just like what you want before. The pending order will be recorded in the Order Book, with that, you’ve become a market maker. The point is, to be a market maker, you just need to buy on the lower price from the lowest price in the sell market, and sell at a higher price from the highest price in the buy market.

The benefit you get when you become a market maker is that you don’t have pay for the transaction fee (0% fee) for your buy/sell order, and you can determine your own sell or buy price. but, the downside is, you must wait until the bitcoin price move towards your determined price.

Market Taker

‘Taker’ or Instant Market is Indodax member that buy or sell using the price that has been listed on the order book. the member that become a market taker , usually are the member that used ‘Market (Instant)’ method. The benefit you get when you become a market taker is you can buy/sell bitcoins instantly, without the need to wait your order being fulfilled, because you just buy/sell from the price list that already been created by the market maker. But you will be charged 0.3% (tax included) from your transaction for the transaction fee.

  • Instant Market Method at Indodax.com.
BUY
  • Enter the amount of Rupiah you want, then press the “Buy Bitcoin” button.
SELL
  • Enter the number of Bitcoin you want to sell, then press the “Sell Bitcoin” button.
  • Stop Order

    The Stop Order* feature can help you with Stop Loss and Take Profit method according to your trading strategy. With this Stop Order* feature, you can trade without having to worry when crypto asset price drop or raise when you are not online on Indodax website. Please note that this feature currently only available on markets BTC, ACT, AOA, BCH, TRX, USDT, DOGE, ETH, XRP, XLM, WAVES. Your Buy and Sell transaction will only be executed if the last price reach your own price (Stop Price) and the order will be executed on instant market.

    BUY CRYPTO ASSET
    You can use the Stop Order feature by input total Rupiah and Stop Price in the Buy table. Your Buy transaction will only be executed if the last price raise to or above your Stop Price.

    • For example: BTC last price is 100.000.000 IDR and you want to buy with 5.000.000 IDR and Stop Price at 101.000.000 IDR. The transaction will only executed if the last price raise to or above 101.000.000 IDR/BTC, an order to buy BTC with 5.000.000 IDR will be executed as instant market.
    SELL CRYPTO ASSET
    You can use the Stop Order feature by input total Crypto Asset and Stop Price on the Sell table. Your Sell transaction will only be executed if the last price down to your Stop Price.

    • Selling Example for Take Profit: Nina bought BTC when the price was 100.000.000 IDR and BTC last price is 102.000.000 IDR. For Take Profit method from BTC, Nina input Stop Price at 101.000.000 IDR. By input Stop Order at this price it will help Nina to get profit according to her trading strategy. Because with the Stop Order Sell feature, Nina sell order will be executed as instant market if BTC price drop below 101.000.000 IDR.
    • Selling Example for Stop Loss: Nina bought BTC when the price was 100.000.000 IDR and BTC last price is 99.000.000 IDR. Nina input Stop Order with Stop Price at 98.000.000 IDR to anticipate and cut down losses. With this Stop Order Sell feature, Nina sell order will be executed as instant market if BTC price drop below 98.000.000 IDR.
    *All transactions using the Stop Order method will be executed using the Instant Market method