A Limit order is an order to buy or sell an instrument at a specified price or better. A 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.
To send a Limit order from the Mosaic Order Entry panel:
- Enter or select a symbol and then click Buy or Sell
- Set the order size and select LMT as the order type
- Complete the order parameters including the limit price as desired
- Hit SUBMIT.
For more information on limit orders, please see the Limit Orders page on the IBKR website.