When does a limit order execute?

  • Updated

We utilize a bid price and an ask price within the app to give our customers more transparency when trading their currency. The bid price represents the maximum price that a buyer is willing to pay for the currency in the open market. The ask price represents the minimum price a seller is willing to take for that currency. As such, the "price" in the app is not indicative of when a limit order should fill. If it is a buy order, the "ask" price must reach your price before the order is filled. There are reasons for this that are explained in detail in this blog post written by our COO and former product manager:




Because we are a broker, as opposed to an exchange, the "price" is a fair market price determined from our various routing destinations. The "price" is not actionable. The "ask" price is actionable on buy orders and the "bid" price is actionable on sell orders. This applies to both market and limit orders.