Binance, Exchanges

What Is a Limit Order in Binance?

A limit order is an order to buy or sell a security at a specified price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.

Limit orders are not guaranteed to be executed. .

A limit order can be placed with a good-till-canceled (GTC) time in force, which means it will continue working until it is either filled or canceled by the client. It can also be placed with a day order time in force, which means it will expire at the end of the trading day if it has not been filled.

Limit orders give the trader more control over the price at which their trade is executed, but they are not guaranteed to be filled. If the market is not active enough, a limit order may not be executed at all.

When placing a limit order, the trader must decide on the following:
-The security to trade
-The quantity of the security to trade
-The limit price
-The time in force.

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