A limit order is a type of trading order that allows traders to set specific price conditions for buying or selling an asset. In contrast to a market order that is executed instantly at the prevailing market price, a limit order empowers traders to define a specific price at which they are comfortable buying or selling. By setting a limit, traders have the flexibility to anticipate the market reaching their desired price level. If the market price reaches or exceeds the specified limit, the order will be executed accordingly. Limit orders grant traders greater control over their positions and the potential to secure more advantageous prices.

NOTE: In Primex, limit orders are executed by Keepers.