In the Order section on the left-hand side of the Exchange view you will find the different order types:
A limit order is not meant to be executed instantly, but is used to put an order in the order book that executes at your specified Limit price (or better price).
For example, if the price for PAN/EUR is currently at EUR 0.09 and you place a limit buy order for a limit price of EUR 0.07, then your order is meant to execute at the price of EUR 0.07 as soon as there are matching bids at this price.
However, if the price for PAN/EUR is currently at EUR 0.09 and you place a limit buy order for a limit price of EUR 0.13, then it will act as a market order at first and will buy up (better price) everything until it reaches your specified limit price (taker fee). If the amount of the order is bigger than what was available in the order book, the remaining amount will now act as an open limit buy order (and hence pay a maker fee).
Note: When placing a limit order, please understand that if there are no or not enough matching bids for your order, your order will either not execute or only execute partially.
If you want to place an order that does not get executed immediately, to buy at a lower price than the market price or to sell at a higher price than the market price, you might want to use this order type.
Advanced limit orders
Click the Advanced checkbox to further customise your limit order with one of our advanced order type settings:
Good ‘til Cancelled (GtC)
This is the default order type for limit orders. The order stays active until it’s either executed or cancelled.
Immediate or Cancel (IoC)
The limit order is placed and if it is not immediately filled, it will automatically be cancelled and removed from the order book.
“Allow Taker” allows the order to be filled regardless of whether the order is matched with previously-existing orders in the order book at the same price or as a maker.
Tip: They can be used on desktop, mobile and tablet as well as via the One Trading API.