What is the difference between a Limit order and an IBAlgo Adaptive Limit order?

The Adaptive Algo can be used with a limit or market order, and is designed to achieve better than average cost efficiency over basic limit and market orders by attempting to trade market and aggressive limit orders between the spread. You can specify how urgently you want the order to fill using the "priority/urgency" selector in the algo window…

A Market order is an order to buy or sell at the market bid or offer price. A market order may increase the likelihood of a fill and the speed of execution, but unlike a Limit order, a Market order provides no price protection and may fill at a price far lower/higher than the current displayed bid/ask…

The Adaptive Algo is an order type that you can select and edit to your specifications. Once transmitted, your Adaptive Algo order will be submitted to an exchange to try and get the best execution price. The Price Management Algo is an order attribute and, when enabled, acts as a price check to ensure your submitted limit price is within the allowable distance from the current reference price…

You can trade cryptocurrencies only using Market or Limit orders. Market orders can be submitted in cash value only (e.g. $10,000 worth of BTC). Limit orders can be submitted in either trade value or quantity terms, but the entered trade value will be converted to quantity and transmitted to OSL in quantity terms. A Limit order is an order to buy or sell at a specified price or better. The Limit order ensures that if the order fills, it will not fill at a price less favorable than the limit price, but it does not guarantee a fill…