A limit order is set to match and fill when market price hits the limit you have set.
Limit Order is the default option you will use on the Order Form in both spot trading and margin trading modes (margin and Liquid Infinity). Limit order is used to prevent slippage that is often caused by big market orders.
Below is a screenshot of the Order Form set to Limit order on the BTC/USD pair.
Funding currency in this case is USD by default.
To place a Limit Order there are two options to consider:
Price: the price at which you're willing to trade BTC (limit price).
Quantity: the amount of BTC you want to trade.
In the below example, the trader has set BTC to be bought at 6,600 USD and no higher.
If the market price is higher than 6,600 USD, the bid will be placed in the order book.
For a Limit order to be filled, the market price must reach the order price at which you are buying or selling.
If you place a buy Limit order above or equal to the market price, or a sell Limit order below or equal to the market price, your order will be at least partially filled immediately.
Cost and fees
Liquid automatically calculates the fees of an order before it is executed.
To view the cost and fee breakdown, hover over the ? next to cost.
Once price and quantity are confirmed, select Place Buy Order.
You will then be prompted to review and confirm all details one more time.
Click Submit Order to confirm and finalize the order or dismiss to go back and change any details needed.
What is the Market Price for Limit Orders?
The market price is shown in real time in the Order Book panel. To read more about this feature, head to Order Book & Ask vs Bid.
These shortcuts allow you to quickly choose to buy or sell 25%, 50%, 75% or 100% of your balance.
Free Balance indicates how much of your balance is available for trading or withdrawals.