Placing a Limit Order

To Begin - Click on the bid or ask price of the particular currency that you want to trade. A window will appear which is labeled “Open Order for (the abbreviation of the currency)”. Fill in the boxes for Operation, Account, and Units in the same way that you would for a market order.

Next, click on the bullet entry button labeled “limit”. To set the limit rate level, input the desired rate at which you want your Limit triggered into the white field.


The Second Step - To cancel the order at any time, select the “cancel” button located on the bottom middle of the window. To proceed, select “place order” and a window labeled “Confirmation” will appear. This does not mean your order was executed. This window asks you to confirm that all of the information entered regarding the trade is correct. If the information is correct and you want to proceed with the trade, select “yes”. Selecting “no” will take you back to the previous window.


After “yes” has been selected there are three possible outcomes:

1. A box will appear indicating that you do not have enough funds in your account for the transaction.



2. A box will appear indicating that the limit rate has been incorrectly entered. This will happen when the exchange rate entered cannot be executed given the operation and the current market rate. The Limit Buy order will not be accepted if the exchange rate level on the order is numerically above the market. The opposite applies to Limit Sell orders for each respective currency pair.



3. If you have sufficient margin and your order was entered correctly, it will be displayed in the “Open Orders” window. This may take a few seconds depending on the speed of your Internet connection.


The order will remain in the “Open Orders” window until cancelled or executed. If executed, the order will disappear from the “Open Orders” window and the necessary changes will be reflected in the “Open Trades” window. Limit orders are filled at the exchange rate at which they are set.