Forex glossary
Limit order
A limit order sets a maximum purchase price or minimum sale price. If filled under limit rules, its price is no worse than that limit, but some or all of the quantity may remain unfilled. Placement relative to current prices and immediate execution depend on market and platform rules.
Illustrative example
How does it work in practice?
A hypothetical order to buy 1,000 EUR has a limit of 1.1000 USD per EUR. It fills 600 EUR at 1.0998 and leaves 400 EUR unfilled; a better price does not guarantee complete execution.
A case to work through
A sale limit
Model: sell limit for 700 EUR at no less than 1.1000 USD/EUR; 200 EUR fills at 1.1002.
- 1.1002 is better than the 1.1000 minimum for a sale.
- The remaining 500 EUR has no confirmed fill price yet.
What follows? Check the remainder rather than assign it the first deal’s price.
Example boundary: Execution and validity depend on instrument and filling policy.
Price and quantity separately
Text description of the diagram
- Minimum sale price: 1.1000 USD/EUR.
- Confirmed fill: 200 EUR at 1.1002.
- Unfilled remainder: 500 EUR without a fill price.
A useful distinction
Limit order / Stop order
An ordinary stop defines activation; a limit defines an acceptable price boundary.
Change an assumption, see the result
What changes if…?
Inspect filled EUR quantity; the calculator does not model queue priority or test limit-price validity.
One hypothetical EUR/USD fill. Requested quantity is not confirmed execution. The model does not predict whether the remainder will fill or the price of later fills.
Check your understanding
Assess both price boundaries and confirmed quantity.
Show the answer and explanation
No, the price exceeds the minimum
The seller receives a better price.
Orders, prices and execution quality
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Related terms
Sources and documentation
- MetaTrader 5: basic trading principles
Orders, deals and positions; FOK, IOC and partial-filling policies.
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The example illustrates the mechanism. Check current account conditions and instrument specifications with the provider.