What is a Limit Order?
A limit order is an order where the price is chosen ahead of time, and the order will be executed when the current market price reaches the limit price.
- Price. If the current market price reaches the limit price and filled the order is guaranteed to be filled at the limit price or better.
- Speed and Execution. Orders are executed almost immediately, and execution is guaranteed.
- Price. Market orders do not have a price parameter, therefore they may not be filled at the originally targeted price.