A limit order is a tool which gives investors more control about their trades. You can use it to purchase or sell stocks or other securities at a specific price or better. If the specified parameters set in the limit order is not met, the order will not be executed and expires according to the set expiration parameters.

Example 1:

You hold ABC shares with its current price of $100 and would like to sell the stock should the price rise to or above $150.

You set a limit order to sell all or a specific amount of the asset for $150.

Once the market price reaches $150 or higher, the limit order will execute automatically and the specific amount of shares will be sold.

If you intentionally or accidentally set a limit order to sell the asset for $80, the order will be executed immediately, as the current market price of $100 is “better” than your set condition.

Example 2:

You would like to invest in ABC shares but believe its current valuation at $100 is too high.

You can set a limit order to buy a specific amount of ABC shares at $80.

Once the market price falls to or below $80, the limit order will execute automatically and the specific amount of share will be purchased.

If you intentionally or accidentally set the limit order to buy the asset for $120, the order will be executed immediately, as the current market price of $100 is “better” than your set conditions.

Limit orders will stay active until the set conditions have been met. However, you have an option to cancel your limit order at any time.

If you want to place a limit order, go to Trade (1), select an asset (2), head over to the Buy/Sell menu (3) on the far right.

In this example, we are looking to sell the FRHC share with a limit order. Additional guidance related to how to purchase shares can be found here.

Use the toggle (1) to choose whether you want to Buy or Sell the financial instrument. Then, choose Limit (2) from the drop-down menu as the price at which you want the financial instrument to be sold.

You will then be asked to enter the limit price (1) at which the asset will be sold, in this example $200. If you would like to set additional parameters for the limit order, click Order Settings (2). Once you have selected your desired price and are happy to proceed, click Place a Sell Order (3).

Press Confirm Sale, if all the parameters of the limit order displayed on the message are correct.

You will receive an “Order has been placed” message as well as a confirmation of your Order Status at the top right corner of the screen.

You can find your active and complete orders in Trade (1) → Orders (2). To cancel your active order, press “X” (3) on the left of the order status.

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