1. Trading on GDAX
1.1 GDAX operates a central limit order book trading platform, and settles trades in a number of Digital Asset and Fiat Currency Trading Pairs. Each Trader’s Account will list which Order Books are available to the Trader.
1.2 To place an Order on an Order Book, a Trader must have an Available Balance of the relevant Asset in their Account which is sufficient to cover the total value of the Order plus any applicable fees.
1.3 When a Trader places an Order, that quantity of the relevant Asset becomes subject to a Hold.
1.4 A Trader can place an Order as either a Limit Order, a Market Order, or a Stop Order.
1.5 A Trader may cancel an open Maker Order or Stop Order at any time before it is Filled. No fees are charged for canceled Orders.