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).

In the Order Settings - Expiry Term section, you will see 3 types of orders:

- Until the end of the day - the order is active from Pre-market until the end of the main trading session (within the day);

- Until the end of the day + - the order is active from Pre-market until the end of the post-market (within the day);

- Good-Till-Canceled (GTC) or Until Canceled - the order remains until canceled, meaning it will stay in the system until the client cancels it, but the GTC order transitions to HOLD status after the end of the main trading session and cannot be executed in the post-market (except in cases where it was placed in the post-market and can be executed on the day it was placed), on the next working day of the exchange, it is activated 1.5 hours before the opening of the main trading session, in the pre-market;

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.

Mobile Version:

In this example, we are looking to sell the Soleno Therapeutics Inc (SLNO) shares with a limit order.

To place a limit order, go to Portfolio (1), scroll down to Open position (2) and click on the selected asset (3). Scroll down to press Sell (4).

This will take you to the order screen. The toggle will be red and will indicate Sell. From here, click on the options (5) to the right of the Price field and select Limit (6). Then, enter the price at which the asset will be sold, in this example $6.00 (7). When done, press Place a Sell order (8). This will take you to the confirmation screen, where you can check the order details. If everything is correct, proceed to press Sell (9) to place the order.

You can find your active and complete orders in Portfolio (1) → Orders (2).

To cancel your active order, click on it and then press Cancel the order (3) at the bottom of order status. Then press Yes (4) on the pop-up and your order will be cancelled.

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