A Limit order is an order to buy or sell a stock at a specific price or better. When you place a Limit order, you set the maximum price you’re willing to pay when buying, or the minimum price you’re willing to accept when selling.
The trade will only execute if the market price meets or improves upon your set limit, giving you greater control over the execution price compared to a market order.
However, a Limit order does not guarantee immediate execution, as the stock may never reach your specified price.
Limit orders are useful for investors who want to trade at exact price points rather than settling for current market prices.
How do I place a Limit order?
Follow these steps to place a Limit buy order:
Tap the Stocks tab
Choose the stock or ETF you wish to buy
Tap Buy at the bottom of the screen
Select Limit order from the dropdown in the top-right corner
Enter the number of shares you wish to purchase
Enter your limit price (the maximum price you are willing to pay)
Review the order details and confirm the transaction when you’re ready
To place a Limit sell order:
Tap the Stocks tab
Under Portfolio, choose the stock or ETF you wish to sell
Tap Sell at the bottom of the screen
Select Limit order from the dropdown in the top-right corner
Enter the number of shares you wish to sell
Enter your limit price (the minimum price you are willing to sell)
Review the order details and confirm the transaction when you’re ready
Your Limit orders will remain open and queued until the stock reaches your specified limit price. Once the market meets or is better than your price, the order will be executed. You can view and manage your open orders by navigating to Stocks > Portfolio.
Important Notes:
Your Limit orders are good-til-canceled (GTC):
Valid for up to 90 days, or until they are fully executed or canceled by you.
If not executed in a single trading day, the order will automatically carry over and remain active for the next trading day.
The order stays queued until it is filled, canceled, or the 90-day period expires.
Orders include do-not-reduce (DNR) instructions:
The limit price will not be adjusted if the stock goes ex-dividend.
For other corporate actions (such as stock splits or reverse splits), your Limit orders may be cancelled.
The dollar value of your open GTC orders is reserved from your Stocks Cash balance amount and cannot be used for other orders.
How do I view my transaction history?
You can view your transaction history in the following ways:
From the home screen, go to Stocks > Portfolio
From the bottom navigation bar, go to Accounts > Stocks Cash > Portfolio. To view your transaction history, tap the ‘clock’ icon in the top-right corner of the screen.
Can I cancel an order after it’s been placed?
You can cancel any order that has not yet been filled. To cancel a pending order:
From the home screen, go to Stocks > Portfolio.
Review the Open orders and tap the order you wish to cancel
Tap the Cancel order button at the bottom of the screen and confirm the cancellation
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