What is a limit order?
A limit order lets you set the price you want to buy or sell an asset for - and the order will only go through if the market reaches that price. This gives you more control over your trades, so you don’t end up paying more or selling for less than you want.
Buy limit orders only execute at your target price or lower.
Sell limit orders only execute at your target price or higher.
Keep in mind that if the market doesn't reach your target, the order won't be filled.
Note: We charge a $0.99 USD transaction fee on all transactions below $500, including limit orders.
When trading, it's key to understand the difference between Take Profit/Trailing Stop orders and Limit Orders. Take Profit/Trailing Stop orders are ideal for managing risk on trades you're entering, helping you lock in profits or limit losses automatically. On the other hand, Limit Orders can be used both when entering a trade and when selling assets already in your portfolio. With a Limit Order, you specify the price at which you want to buy or sell*, giving you control over the exact price point of your transactions. Knowing when to use each can enhance your trading strategy!
*Please note the following important information regarding limit orders:
- Sell Limit Orders: You cannot set a selling price for an asset that is below the current market price.
- Buy Limit Orders: You cannot set a buying price for an asset that is above the current market price.
To place a limit order, you must use either:
- A linked ACH bank account, or
- An existing asset balance (crypto or fiat) in your Uphold account
Limit orders cannot be placed using debit cards, credit cards, or alternative payment methods like Google Pay or Apple Pay.
Change/Edit
- Once a limit order is set, it can't be edited. You can, however, cancel it and set up a new limit order.
Cancel
- If you want to cancel a limit order, just tap the Cancel button on the top right and click Cancel limit order to confirm.
Uphold’s limit order feature lets you set up a Buy or Sell order that only goes through when a specific market price is reached—even if that price isn't directly related to the asset you're trading.
Example:
You want to sell 0.1 BTC and receive XRP, but only when 1 BTC hits $10,000 or more. In this case, your order will only be triggered when Bitcoin hits your target price. The exact amount of XRP you receive will depend on the BTC/XRP exchange rate at the moment the order is executed, which may vary.
The exchange rate between BTC and XRP is not fixed, so the amount of XRP you get will be based on the rate at the time of execution.
When you set a limit order on Uphold, it's triggered by the actual Buy or Sell prices available in the market—not just what you see on the chart.
Charts usually show the mid-market price, which is the average between the Buy and Sell prices. But in real trading, there’s always a small gap between the price you can buy at and the price you can sell at.
Example for buying BTC
Limit price: $50,000 – The target price you set in your order.
Buy price: $50,500 – The price you can buy an asset for (what sellers are asking).
Sell price: $49,500 – The price you can sell an asset for (what buyers are bidding).
Mid-market price: $50,000 – The halfway point between the current Buy and Sell prices. This is the price shown on Uphold charts.
This buy limit order will execute only when the buy price drops to $50,000 or lower. While the mid-market price matches the limit price, the order will not execute until the buy price reaches the specified amount.
A limit order fails when your sub-account lacks funds or you've hit today's exchange limit.