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Limit order
Limit order - A Limit Order is a Customer Order to Buy or Sell a specific amount of a Currency Pair at a specific user defined price. A Limit Order does not guarantee execution; rather it guarantees only that if execution occurs, it will be at the stated Limit Price. Note that sometimes the market briefly touches a limit price, only to immediately retreat back away from the limit price level with very little if any volume traded. Under such circumstances the Limit Order may not have be executed and the limit order will remain in effect, until that time when the order can be executed or until the Customer cancels the order. A Limit Order specifies that execution should be attempted after the market reaches or goes through a set price level - the limit price. Once issued, the limit order will be held pending until the limit price is reached. Once the market hits or goes through the limit price, the order is triggered and the Trading System dealer attempts to execute the order at the Limit Price.
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