Search
Search for an ETF or holding
Search for an ETF or holding
Updated 2mo ago.
Updated 2mo ago.
A limit order is an instruction to buy or sell a security at a maximum (buy) or minimum (sell) price that you set in advance. The order only executes if the market reaches your price or better. The price is guaranteed, but execution is not.
XEQT.TO is currently trading at $28.45 (ask). You place a limit buy order at $28.40.
With most Canadian brokers (Wealthsimple, Questrade, Disnat), you can choose the duration: "day" order (expires at 4 PM) or "GTC" (good till cancelled, stays active for several days).
The limit order is recommended for most ETF purchases. It protects you against unpleasant surprises: wide spreads, sudden price movements, or low liquidity. Best practice is to set your limit price at the current ask price or slightly below.