All terms
An order to trade only at a price you choose or better.
A limit order sits on the book until price reaches your level. You control the price but not whether it fills. If the market never reaches you, nothing happens.
Limit orders are usually cheaper because you add liquidity rather than take it. Most exchanges charge lower maker fees for this reason.
Coinbase Advanced and Binance.US both let you use limit orders. The simple Coinbase interface largely does not, which is one reason its effective cost is higher.
That a limit order is guaranteed to fill. It guarantees the price, not the fill. In a fast move price can trade through your level and leave you unfilled, which is exactly when you wanted it.
Common questions
Why did my limit order not fill?
Is a limit order always better than a market order?
Where this comes up on the site
The guides that actually use this word, rather than a list of everything we have written.
Where to go next
More trading terms
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