Limit Stock Order

A limit order is an order to buy or sell a stock at a specific price which is usually done by an investor while placing an order (buy / sell) on a product.

A buy limit order can only be executed at the limit price or lower (this is set by the investor), and a sell limit order can only be executed at the limit price (initially purchased) or higher (set by the investor). A limit order is not guaranteed to execute. A limit order can only be fulfilled if the stock’s market price reaches the limit price. While limit orders do not guarantee execution, they help ensure that an investor does not pay more than a pre-determined price for a stock.

As an investor willing to buy stocks, the limit order feature allows you:

1. Set date limit and amount limit order based on the trade limit set by the Security Exchange Commission (SEC) on a stock product to be purchased or to be sold.

2. If a Date limit is set for today by an investor, the stock must be cancelled by today.

3. Receive both subscription price with fees and taxes calculated on the product returned back to the investor’s cash balance.

Follow these easy steps to set Date or Price Limit

• Login to your Wealth.ng account

• Select the stock you want to Buy/Sell
• Input the number of units you want to buy/sell
• Click on Advanced Option

• Use the date picker to set your preferred date limit or
• Set a price (upper/lower limit)

• Add to cart
• Proceed to checkout

NB: This feature is currently only available on Desktop. Mobile app release coming soon.

Note the following:

You can limit by price and date from stock orders( upper/lower limit)

When a date limit is set on either buy or sell order, the order is not cancelled until the date is reached

When a price limit is set on buy/sell order, once the upper or lower limit set has been reached on that stock, the buy order is automatically cancelled

Of course, you can as well cancel an order even though the limit is set on the order. In additon, you get to see the trade limits set on all your pending stock orders at the cart.

However, please note that once the limit is reached, the stock is cancelled, and your funds + fees are reversed to the your Wealth.ng account

Now, if a partial fulfillment is done and the limit is reached on the unfulfilled stocks then units not fulfilled are reversed to the your cash balance

· When all the stock’s units are completed, and the limit is reached, the units are equally added to your portfolio.

Bear in mind that every information on the trade limit you set can be seen by you — the investor.

NB: This feature is currently only available on desktop. Mobile app release coming soon.