A limit order can be a buy or sell where a user sets the price at which you will buy (below current best bid) or sell (above current best ask) a certain asset.
A limit order is used when execution price (versus speed) is the highest priority. Depending on the price at which a limit order is placed within the order book, the order may remain active for a short or extended period. Limit orders are not guaranteed to execute. For instance, if the Bitcoin mid-market price is $9,000 and a trader places a limit order to buy Bitcoin at $8,500; the order will only execute if and only if the price of Bitcoin falls to $8,500 or lower.
sFOX limit orders route between exchanges for smarter execution
sFOX limit orders won't simply sit on a single order book hoping that the price on that particular exchange will reach your limit price. They intelligently switch between exchanges based on which exchange has the best prices and highest likelihood of execution for your order.
How to place a Limit Order on sFOX
Fill any 2 of the 3 "Quantity", "Limit Price", or "Buy Total" fields
Click the green "Buy" or red "Sell" button
Tips
When placing a Buy Limit order, your Limit Price should always be lower than the current market price
When placing a Sell Limit order, your Limit Price should always be higher than the current market price
If speed is most important to you, consider placing a Market order or a speed focused Advanced order type