What is a limit order

A limit order lets you set the exact price at which you want to open or close a position. Your order waits until the market reaches your price. If the market never reaches it, the order stays open until you cancel it.

A market order executes immediately at the best price currently available. You get speed, but you give up control over the exact price.

Use a limit order when you want to enter or exit at a specific price and you are not in a rush. Use a market order when you need to act immediately, for example to cut a loss quickly.

If the market does not reach your price, your order stays open. It remains active until:

A limit order does not expire on its own. You can see all your open limit orders in the app.

You can set a take profit and stop loss at the same time as placing a limit order. These will appear as separate orders once the limit order is placed. They are linked to your position, not to the limit order itself. See What are Take Profit and Stop Loss orders.

Your order will fill at your chosen price or better, never worse. However, if the market only briefly touches your price and moves away before your order can be matched, it may fill partially or not at all.

No. A limit order cannot be edited once placed. To change the price or size, cancel the order and place a new one.

You can have one open limit order per asset. Across different assets, you can have multiple limit orders open at the same time.

A limit order is an instruction to open or close a position at a specific price. A stop loss is a safety order that closes an existing position automatically if the mark price moves against you to a level you set. See What are Take Profit and Stop Loss orders.