Understanding Limit Orders
A limit order is an instruction to buy or sell a security at a defined price or better. It is used by investors to ensure they pay or receive the price they desire for their orders. In a buy limit order, the order will execute only if the security can be purchased at the limit price or lower. In a sell limit order, the order will execute only if the security can be sold at the limit price or higher.
For example, if an investor wishes to purchase shares of ABC stock but not more than $10 per share, a limit order can be placed at the specified price. This order will only execute should ABC stock trade at $10 or lower.
What can you do with this feature?
Place limit orders to buy or sell stocks at a specified price or better.
Set a time limit on your limit order. The order will expire if it doesn't get executed within the specified duration.
View your pending limit orders and cancel them if necessary.
Get notified when your limit order is executed or if it expires without being executed.
Buy single shares
How to use the Limit Order feature
Select your preferred Stock from your Stocks Invest tab
Tap "Buy" or "Sell"
Tap on the drop-down icon at the top-right corner of the screen
Select Limit order
Fill out the on-screen form and tap Next
Reconfirm the details and tap Buy or Sell to submit your request