Binance is one of the largest cryptocurrency exchanges in the world, offering a wide range of trading options for digital assets. Occasionally, traders may want to cancel an order they have placed on Binance for various reasons, such as market conditions changing or personal preferences shifting.

In this handbook, we will stroll you through the process of canceling an order on Binance to help you oversee your exchanges virtually.

Users of Binance can exchange a massive preference for cryptocurrencies. Many investors around the globe have appeared as the option appreciation to the platform, trading tools, and inexpensive expenses.

Can I cancel the Open Orders on Binance?

Yes, as true to be, you can cancel an order at Binance by tapping the Cancel option from the Order category of the Binance App.

You can cancel 3 orders daily on Binance and in case you increase the limit per day, the account terminates on its own.

A few things to follow before proceeding to cancel the Binance Order:-

The payment is paid to the dealer, do not cancel in such circumstances.
If the cancellation of the order is because of system timeout, there will be an impact on the buyer’s rate.
The cancellation of an order can be processed without any deduction in the completion rate if the buyer has already contacted but no response in 15 minutes is received.

How to cancel a limit order on Binance

An order on Binance is possible to cancel by following an easy procedure. The pending orders can be revoked by clicking Open Orders as well as you can modify and control the trades.

Here are the steps of instructions that you need to follow in order to cancel your order on Binance:-

Accessing the Binance Account:
To cancel an order, you must have an active Binance account. Open the preferred browser and then visit the Binance website. Enter the login credentials to enter into the account.
Navigating to the Trading Page:
Once you have logged in successfully, navigate through the trading page. You can find the trading page by tapping on the “Trade” option available on the Binance site.
Locate the Open Orders:
Moving to the trading page, you will discover varied trading pairs and orders. Peek for the area that shows the open orders. In this category, you will notice the list of all the active orders.
Pick the Order in order to Cancel:
Identify the order that you expect to cancel from open orders. This includes elements such as trading pair, type of order, cost, and quantity.
Cancelling Binance Order:
Next, tap on the “Cancel” tab. A confirmation prompt will pop up to assure you desire to move with the cancellation. Confirm the conclusion by choosing the “Yes” tab and finalize the cancellation.
Verify the Order Cancellation:
After ascertaining the cancellation, the order will be terminated from the open orders. In order to verify that the cancellation was successful, check the order list again. The canceled order should no longer be visible.

There are various sorts of Binance Orders that will be discussed below.

How do I cancel P2P Sell Order on Binance App

The steps involved to cancel P2P sell on the app are as follows:-

First, click on the Binance app and move to the Orders Page.
Then, click the Cancel tab.
Pick the reason for cancellation and click on the Confirm tab.
In case the seller withdraws the order you need to wait till they confirm cancellation.
If the dealer does not approve your request in 10 minutes, the system accepts the cancellation.

Canceling the P2P Binance order on the Web

Go to the Binance account through the browser and then log in using the credentials.
Head to Orders and tap the Cancel option.
Next, pick the reason for canceling.
After that tap on Confirm option.

Cancel the Binance sell order from the Merchant Portal

First, sign in to the account and click on My Orders.
Next, tap on the order that you do not want to continue.
Click the Cancel tab in order to revoke the order.
Do not forget to include the reason for cancellation.
Lastly, tap the Cancel tab again.

If you want to modify the open limit on the app then here are the steps to follow:-

Click the Binance App to the app.
Tap on Trade under the Open Orders option.
Hit on the Modify button.
Now you can modify the open order and after that tap on the Confirm Tab.

Conclusion:

Canceling a limit order on Binance is a simple and easygoing process that can be accomplished in simple steps. By following this manual, you can actually organize the trading actions on the platform of Binance. Remember to check properly the order details before proceeding to cancel and this ensures you are canceling the correct order. Besides, it’s worth remembering that canceled orders cannot be undone, so make sure you are particular about the decision before verifying the cancellation.

If you are still worried about the order cancellation, contact Binance Help Center which is available 24 hours for your assistance.

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