What is a limit order? (Emirex.com)

It is an order to buy or sell a coin at a specific price or a better one.

The limit price is determined by you. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. 

Unlike market orders, where trades are executed instantly at the current market price, limit orders are placed on the order book and are not executed immediately and therefore you have more control over the execution price.

However, there is no guarantee that your limit order will be executed. If the market price never reaches the limit price, your trade will remain unfilled on the order book.

How to set a limit order? 

1. Log in to your account on Emirex https://emirex.com
2. Choose “Spot trade” in “Exchange” section

3. Press “Limit order” button at the right bottom corner

4. Set an order by filling in the order form: token price at which you want the order to be executed, amount of the token to be purchased or sold.

5. You may also select to indicate the % of the funds that you want to spend for the order execution instead of filling in the relevant field in the order form.

6. Once the order is set, it will be reflected in the “Open orders”.

The funds involved in the limit order will be blocked and reflected in the Portfolio section, “In the closed position” status.

7. All the orders including the executed ones are reflected in the “Order history”

8. After the order is executed, the list of assets will be updated in the Portfolio section respectfully.

If you still have questions, please contact us, we will be happy to help!