Limit Orders

A limit order allows you to specify the maximum amount you are willing to pay for a security (when you buy) or the minimum amount you are willing receive for a security (when you sell).

Examples:

  • Buy Limit Orders: Let's say you want to buy a security for $10.00 or less. You can enter a limit price at $10.00, and we'll only purchase the security if it trades at $10.00 or less. If the security trades above the limit price, the buy order will not execute. Typically, the limit price for a buy order is placed at or below the current Ask price.
  • Sell Limit Orders: Let's say you want to sell a security for $20.00 or more. You can enter a limit price at $20.00, and we'll only sell the security if it trades at $20.00 or more. If the security trades below the limit price, the sell order will not execute. Typically, the limit price for a sell order is placed at or above the current Bid price.

Important: It is possible that a limit order won't fill in a single day. When this happens, your limit order may partially fill over multiple days, with transaction costs for each day a fill occurs. Learn more about partially filled orders.