Limit Order

A limit order lets you buy or sell an asset only at a price you specify or better. To place a limit order, you choose whether to buy or sell, set the quantity, and name your price. The trade goes through only if the market reaches your price or gives you a better deal. Some limit orders include an expiration time—they’re automatically canceled if not filled by then.

Unlike market orders that fill instantly at current prices, a limit order might not execute right away, or at all. Sometimes, it can be partially filled if there isn’t enough volume at your price, unless you set it as “Fill or Kill,” meaning it has to be completely filled or not at all. Depending on where your price sits compared to the market, your order could add liquidity (as a maker) if your price isn’t immediately available, or take liquidity (as a taker) if your price matches an offer already in the order book.