Limit Order 

A limit order is an order to buy or sell a stock at a certain price or better.

A buy limit order can only be executed at the limit price or below, and a sell limit order can only be executed at the limit price or higher. The execution of a limit order is not guaranteed. A limit order can only be executed when the market price of the stock reaches the limit price. Although limit orders do not guarantee execution, they help keep an investor from paying more than a predetermined price for them. To understand where and how an order you place with ZFX will be executed, consider Trade Execution right away from MetaTrader 4.