Definition of Buy Limit
A pending order to buy at a price below the current market price. It is placed when a trader expects the price to fall to a specific level before rising.
At a glance
Example
Example: a buy limit below market does not guarantee a fill if price never prints at your limit. Choose “Buy Limit” based on price priority versus fill priority.
Common mistake
Common mistake: using “Buy Limit” as loose slang while your broker/platform specification defines it more narrowly.
Professional tip
Tip: bookmark this “Buy Limit” page and reopen it when reading broker specs so definitions stay consistent.