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What is a limit order?

A limit order is a request placed on exchange to execute a buy or sell transaction with specified limit price or better. Unlike a market order, a limit order may not be executed if the price set by the user isn’t met during the period of time in which the order is left open. Limit orders on FUMGO also allow the user to limit the timeframe an order can be outstanding before being canceled. The limit order sets the price level at which the cryptocurrency asset will be bought below the current market price or will be sold above the current market price. If the market price reaches the limit order level – it will be executed. That means you are provided with more price control, but less liquidity.

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