A limit order provides investors the ability to set a price at which a trade will be automatically executed. Unlike a market order which will be executed at the best available market rate at the time (or when the market opens), limit orders only execute if the price reaches a selected target price.
A limit order will remain open until it is executed or you decide to cancel it.
Note that sometimes, due to market conditions, your trade will be executed not exactly at the target price.
To set a limit order, choose an instrument and bring up the Trade window.
When the market you wish to invest in is open, the default option is to open a trade at the best available price at the time. If you wish to set a limit order and choose the rate at which it will execute, click on TRADE and then select Order from the drop-down menu:
If the market you wish to invest in is closed, click on RATE to set a limit order and choose the rate at which it will execute:
You then have the option to choose:
- Whether you wish the order to execute into a SELL position or a BUY position.
- The rate (price) at which you wish the order to execute into a position. Please bear in mind that during volatile periods in the market, a limit order may be executed close to your target rate. Orders are not guaranteed: during periods of extreme volatility, the market range may be skipped and the order will not execute. For more information, please click here or see our Best Execution and Order Handling Policy.
- The amount in USD (or units) you wish to invest in the position.
- Your preferred Stop Loss, Leverage and Take Profit.
Once you click on ‘Set Order’, the cash amount allocated to the order will no longer be available for trading, unless you cancel the order. You can cancel a pending limit order at any time.
You can see your order’s status by clicking on the Orders tab in your Portfolio.
For more details regarding orders, please click here.