What Is Limit Order?
An instruction to buy or sell a security at no worse than a specified price, but the order will only execute at that price or better. Unlike a market order, a limit order may never be filled if the specified price is not reached.
Limit Order across 2 exams
Limit Order appears on the following exams. Each defines it in the context candidates are tested on:
- Series 7
- An instruction to buy or sell a security at no worse than a specified price, but the order will only execute at that price or better. Unlike a market order, a limit order may never be filled if the specified price is not reached.
- Series 57
- An order to buy or sell a security at a specified price or better; it will only execute at the limit price or a more favorable one, but is not guaranteed to fill.