I just placed a stop limit order on CHSB/BTC pair and my order was executed before reaching the limit price. Stop price was 0.0001121 BTC and limit price 0.00001089. The order was executed at 0.00001119 average price. At that time, the lowest price was 0.00001116, far from my limit price at 0.00001089. I do not understand why.
As I understand from Charles Schwab: “A stop-limit order triggers the submission of a limit order, once the stock reaches, or breaks through, a specified stop price. A stop-limit order consists of two prices: the stop price and the limit price. The stop price is the price that activates the limit order and is based on the last trade price.” So the stop price will trigger to send my limit order to the order book, but according to this [post]([https://www.reddit.com/r/kucoin/comments/f4gm5y/do_i_misunderstand_stoplimit_orders/](https://www.reddit.com/r/kucoin/comments/f4gm5y/do_i_misunderstand_stoplimit_orders/)), the limit order will execute immediately.
On the other hand, there is another type of order, stop-market order. According to the [Kucoin FAQ]([https://support.kucoin.plus/hc/en-us/articles/360015207073-How-to-Make-a-Trade-on-KuCoin](https://support.kucoin.plus/hc/en-us/articles/360015207073-How-to-Make-a-Trade-on-KuCoin)) On this order, once the market reaches the stop price, the market order will be place on the order book and execute immediately. (because obviously, it’s a market order)
So what the difference between the limit order and the market order? According to what happened to me, they are the same. In fact, the stop limit order is even worse.