All or None Order (AON)

AON (All or None) orders are a type of order in which the entire order must be filled or none of it will be executed. This is often used to ensure that a trader only buys or sells an asset in a single transaction rather than in pieces.

Trade bots can use AON orders as part of their trading strategies to help minimize slippage and ensure that orders are executed in full rather than partially. For example, a bot could be programmed to place an AON order to buy a specific cryptocurrencyCryptocurrency is a digital or virtual currency that uses cryptography for security and operates independently of a central bank. Cryptocurrencies use decentralized technology called blockchain... More at a certain price point, with the goal of purchasing a large amount of the asset in a single transaction. This can help prevent the bot from accidentally purchasing some of the asset at a higher price point due to partial fills. Additionally, AON orders can help prevent a trader from buying or selling an asset in small pieces, which can increase fees and potentially impact the market price.