When setting a limit order, it is important to bear in mind that your requested order rate may not be traded during volatile periods in the market. In such cases, your order may execute into a position within a range of the target rate. This market range not only ensures that the order is executed at a suitable rate, but also acts as a safety measure so that a trade does not open in cases where the price has moved sharply away from the target rate.
An order will trigger only once your requested rate is reached in the market. The market range starts at the target rate you had set and goes in the direction the market is moving from the market rate at the time of the order, as follows:
- If the target rate is higher than the market rate at the time of the order, the range will be upwards.
- If the target rate is lower than the market rate at the time of the order, the range will be downwards.
The market range for each instrument can be found below:
|Instrument Type||Symbol||Market Range (pips)|
|Stocks||1% of the asset's price, defined in pips periodically|
|ETFs||1% of the asset's price, defined in pips periodically|