Limit Price is a switch button that you can use to switch from Limit to Market order and vice-versa.
Limit (LMT) order
- If the switch is ON, it will be treated as a Limit order.
- With Limit order, you can place buy or sell orders at a predetermined price.
- You will need to fill in the price that you wish to purchase or sell the securities at
- Lower and upper circuit range limits are displayed on the left and right corners of the text box. The Limit price entered needs to be between the lower and upper circuit prices displayed.
Market (MKT) order
- If the switch is OFF, it will be treated as a ‘Market’ order.
- It will place an order to be bought or sold at the best available price.
Please note that because of the illiquidity of Stock Options contracts, market orders have been disabled on Stock Options.