Limit Orders

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A Limit order is an order to buy or sell at a specified price or better. The Limit order ensures that if the order fills, it will not fill at a price less favorable than your limit price, but it does not guarantee a fill.

Products Availability Routing TWS
Bonds US Products Smart Attribute
CFDs Non-US Products Directed Order Type
EFPs         Time in Force
Forex            
Futures            
FOPs            
Options            
Stocks            
Warrants            
Note that direct-routed, non-marketable limit orders may be rejected if the specified destination does not support them.


Example

Limit Orders example


Stock XYZ is trading at $33.98 - $34.00. You decide to buy 400 shares, but you're only willing to pay up to $33.95. Create a BUY order and select LMT in the Type field to specify a limit order. Set the limit price to $33.95 and submit the order. Your order will only execute if the quantity is available at $33.95 or better. Otherwise, your order will not execute.



Any stock or option symbols displayed are for illustrative purposes only and are not intended to portray a recommendation.

 

The Reference Table at the top of the page provides a general summary of the order type characteristics. The checked features are applicable in some combination, but do not necessarily work in conjunction with all other checked features. For example, if Options and Stocks, US and Non-US, and Smart and Directed are all checked, it does not follow that all US and Non-US Smart and direct-routed stocks support the order type. It may be the case that only Smart-routed US Stocks, direct-routed Non-US stocks and Smart-routed US Options are supported.