How does a TWAP order work?
A TWAP ('Time-Weighted Average Price') order splits a larger trade into smaller portions that are executed evenly over a set period of time. Instead of filling your entire order at once, Revolut X spreads it across the duration you choose.
This helps you achieve an average price over the period and reduces the impact a single large order can have on the market.
When placing a TWAP order, you can choose between two order types — 'Market' or 'Limit'.
Market TWAP
Each portion of your order executes at the best available market price at the time of that interval.
Limit TWAP
You set a limit price, and each portion will only execute if the market price meets your condition at the time of that interval:
- For a buy, the portion only executes if the market price is lower than or equal to your limit price
- For a sell, the portion only executes if the market price is higher than or equal to your limit price
Setting your duration
- Available durations: 5 minutes, 15 minutes, 30 minutes, 1 hour, 6 hours, 12 hours, 24 hours
- Keep in mind, portions skipped due to price conditions not being met will not be retried