Limit Order

A limit order is an instruction to a broker to effect the purchase of a security at a specified price which is lower than market price, or to effect the sale of a security at a price which is higher than the market price.

From this definition, limit orders are used by the trader when he has an expectation that the market will move in a specific direction, but only after prices have retreated to some extent from their current prices as to make the value of the asset lower relative to the trade position. Limit orders work in both directions (buy or sell) and they can be used in the market in different ways, depending on what trading platform the trader is using to trade.

Brokers With Limit Orders

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    When we evaluated Pepperstone's MT4, execution was extremely swift with spreads starting at 0.1 pips, plus a $7 per lot commission on Razor accounts. The Smart Trader Tools plugin provided real benefits, including sentiment, mini-terminal, and trade management tools. EA automation operated seamlessly, and the mobile version replicated desktop performance in live trades.

    Instruments Regulator Platforms
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower
    Min. Deposit Min. Trade Leverage
    $0 0.01 Lots 1:30 (Retail), 1:500 (Pro)
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    In our tests, FXCC's MT4 offered raw spreads from 0.1 pips on the ECN XL account with zero commission—perfect for traders. Execution was precise, and EA automation ran smoothly. Though the indicator set is basic, FXCC enhances value by integrating economic calendars and news feeds directly into the platform.

    Instruments Regulator Platforms
    CFDs, Forex, Indices, Commodities, Crypto CySEC MT4, MT5
    Min. Deposit Min. Trade Leverage
    $0 0.01 Lots 1:500
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    When we assessed IC Markets’ MT4, execution speeds were among the swiftest, perfect for high-frequency tactics. Spreads on EUR/USD averaged 0.1 pips with a $7 commission per lot. With EA automation, VPS integration, and advanced tools such as Depth of Market, the platform excelled for dedicated algorithmic traders.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto ASIC, CySEC, FSA, CMA MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
    Min. Deposit Min. Trade Leverage
    $200 0.01 Lots 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
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    In our tests, FxPro’s MT4 provided robust execution with options for market or instant execution accounts. The platform accommodates micro lots, dependable EA automation, and mobile trading. FxPro’s tailored MT4 plugin enhanced analytics and risk management tools beyond the standard suite.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, Futures, Spread Betting FCA, CySEC, FSCA, SCB, FSA FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower
    Min. Deposit Min. Trade Leverage
    $100 0.01 Lots 1:30 (Retail), 1:500 (Pro)
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    When we tested IG’s MT4, execution was stable but a bit slower than their proprietary platform. Spreads averaged 0.6 pips on major pairs without commissions, supporting micro lots and dependable EA automation. Although MT4 did not include IG's exclusive tools, it provided robust mobile functionality and a wide asset range, including CFDs and forex.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM, JFSA Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
    Min. Deposit Min. Trade Leverage
    $0 0.01 Lots 1:30 (Retail), 1:222 (Pro)
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    Upon testing IC Trading’s MT4, the platform exhibited stable execution, with spreads averaging 1.5 pips on major pairs and no commission charges. EA automation functioned seamlessly. However, the indicator library was basic. The mobile MT4 version operated reliably, but offered fewer add-on tools and social trading features than some larger MT4 brokers.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, Futures FSC MT4, MT5, cTrader, AutoChartist, TradingCentral
    Min. Deposit Min. Trade Leverage
    $200 0.01 Lots 1:500
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    During testing, Eightcap’s MT4 offered swift execution and spreads starting at 0.0 pips on the Raw account. The commission was $3.50 per side for each standard lot, with an all-in cost of roughly 0.76 pips. The platform supports micro lots and provides smooth EA automation. The mobile MT4 was fast, and Capitalise.ai integration allowed for algorithmic trading without coding.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities ASIC, FCA, CySEC, SCB MT4, MT5, TradingView
    Min. Deposit Min. Trade Leverage
    £100 0.01 Lots 1:30

Safety Comparison

Compare how safe the Limit Order are and what features they offer to protect traders.

Safety Comparison
Broker Trust Rating FCA Regulated Negative Balance Protection Guaranteed Stop Loss Segregated Accounts
Pepperstone 4.6
FXCC 3.3
IC Markets 4.6
FXPro 4.4
IG 4.9
IC Trading 2.8
Eightcap 4.3

Payments Comparison

Compare which popular payment methods the Limit Order support and whether they have trading accounts denominated in British Pounds (GBP).

Payments Comparison
Broker GBP Account Debit Card Credit Card Neteller Skrill Apple Pay
Pepperstone
FXCC
IC Markets
FXPro
IG
IC Trading
Eightcap

Mobile Trading Comparison

How good are the Limit Order at mobile trading using apps or other mobile interfaces.

Mobile Trading Comparison
Broker Mobile Apps iOS Rating Android Rating Smart Watch App
Pepperstone iOS & Android 4.4 4.1
FXCC iOS & Android 4.8 4.4
IC Markets iOS & Android 3.1 4.2
FXPro iOS & Android 4.7 4.3
IG iOS & Android 4.6 4
IC Trading iOS & Android 4.8 4.6
Eightcap iOS & Android 4.8 4.4

Beginners Comparison

Are the Limit Order good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?

Beginners Comparison
Broker Demo Account Minimum Deposit Minimum Trade Support Rating Education Rating
Pepperstone $0 0.01 Lots 4.6 4
FXCC $0 0.01 Lots 4.3 2.5
IC Markets $200 0.01 Lots 4.5 3.5
FXPro $100 0.01 Lots 4 4
IG $0 0.01 Lots 4.5 5
IC Trading $200 0.01 Lots 2.8 2.2
Eightcap £100 0.01 Lots 4 3.5

Advanced Trading Comparison

Do the Limit Order offer features that allow for more advanced trading strategies?

Advanced Trading Comparison
Broker Automated Trading Pro Account Leverage VPS AI Low Latency Extended Hours
Pepperstone Expert Advisors (EAs) on MetaTrader 1:30 (Retail), 1:500 (Pro)
FXCC Expert Advisors (EAs) on MetaTrader 1:500
IC Markets Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
FXPro Expert Advisors (EAs) on MetaTrader, cBots on cTrader 1:30 (Retail), 1:500 (Pro)
IG Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime 1:30 (Retail), 1:222 (Pro)
IC Trading Expert Advisors (EAs) on MetaTrader, cBots on cTrader 1:500
Eightcap TradingView Bots 1:30

Detailed Rating Comparison

Use this heatmap to compare our detailed ratings for all of the Limit Order.

Detailed Rating Comparison
Broker Trust Platforms Mobile Assets Fees Accounts Support Research Education
Pepperstone 4.6 4.4 4.3 3.8 4.5 4 4.6 4.3 4
FXCC 3.3 3.3 4.6 3 4 3.5 4.3 2 2.5
IC Markets 4.6 4 3.7 3.5 4.6 4 4.5 4 3.5
FXPro 4.4 4.3 4.5 4 4 3.8 4 4 4
IG 4.9 4.9 4.3 4.5 3.5 4 4.5 4.9 5
IC Trading 2.8 4 4.7 3 4 3.5 2.8 3 2.2
Eightcap 4.3 4.3 4.6 3.6 3.8 4 4 3.5 3.5

Our Take On Pepperstone

"Pepperstone is a premier trading platform, providing tight spreads, swift execution, and sophisticated charting tools for seasoned traders. Beginners benefit from no minimum deposit, comprehensive learning materials, and outstanding 24/7 support."
Tobias Robinson
Tobias Robinson
Reviewer

Pros

  • Pepperstone now offers spread betting via TradingView, delivering a streamlined and tax-efficient trading experience with sophisticated analytical tools.
  • In recent years, Pepperstone has significantly enhanced the deposit and withdrawal process. By 2025, clients can use Apple Pay and Google Pay, while 2024 saw the introduction of PIX and SPEI for customers in Brazil and Mexico.
  • Over the years, Pepperstone has consistently garnered recognition from DayTrading.com’s annual awards. Recently, it was honoured as the 'Best Overall Broker' in 2025 and was the 'Best Forex Broker' runner-up the same year.

Cons

  • Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app.
  • Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.
  • Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.

Our Take On FXCC

"FXCC remains a top choice for forex traders, offering over 70 currency pairs, very tight spreads from 0.0 pips in tests, and high leverage up to 1:500 with the ECN XL account."

Pros

  • There are no deposit fees other than standard cryptocurrency mining charges, which benefits active traders.
  • There are no limitations on short-term trading techniques such as trading and scalping.
  • The complimentary education section, featuring the 'Traders Corner' blog, provides a wide array of resources suitable for traders of all experience levels.

Cons

  • While the MetaTrader suite excels in technical analysis, its outdated design detracts from the overall trading experience, particularly when contrasted with contemporary platforms such as TradingView.
  • The range of research tools, such as Trading Central and Autochartist, is quite limited. Leading platforms in this category, like IG, offer more advanced features.
  • Unaware traders might face steep withdrawal fees, such as a notable $45 for bank transfers.

Our Take On IC Markets

"IC Markets provides excellent pricing, swift execution, and easy deposits. With cutting-edge charting tools like TradingView and the Raw Trader Plus account, it continues to be a preferred option for intermediate and advanced traders."

Pros

  • As a well-regulated and reputable broker, IC Markets focuses on client safety and transparency to provide a dependable global trading experience.
  • Access over 2,250 CFDs across diverse markets like forex, commodities, indices, shares, bonds, and cryptocurrencies. This variety enables traders to employ diversified strategies.
  • In 2025, IC Markets earned DayTrading.com's accolade for 'Best MT4/MT5 Broker' due to its top-tier MetaTrader integration. This achievement highlights the broker's continuous refinement over the years to enhance the platform experience.

Cons

  • IC Markets provides metals and cryptocurrencies for trading through CFDs, though the selection is narrower compared to brokers such as eToro. This limits opportunities for traders focused on these asset classes.
  • The tutorials, webinars, and educational resources require enhancement, lagging behind competitors such as CMC Markets, which diminishes their appeal to novice traders.
  • Certain withdrawal methods incur fees, including a $20 charge for wire transfers. These costs can reduce profits, particularly with frequent withdrawals.

Our Take On FXPro

"FxPro is an excellent choice for traders, offering swift execution speeds under 12ms, reduced fees since 2022, and outstanding charting platforms like MT4, MT5, cTrader, and FxPro Edge."

Pros

  • FxPro provides four dependable charting platforms, including the user-friendly FxPro Edge. It features more than 50 indicators, 7 types of charts, and 15 different timeframes.
  • FxPro uses a 'No Dealing Desk' (NDD) model for swift and transparent order execution, usually within 12 milliseconds, making it well-suited for short-term trading strategies.
  • FxPro's Wallet is a notable feature enabling traders to securely manage their funds. It ensures additional protection and ease by separating unused funds from active trading accounts.

Cons

  • FxPro offers customer support five days a week around the clock, accessible via various platforms, and the service quality is reliable based on tests. However, the absence of weekend support can be a drawback for traders requiring help beyond standard market times.
  • FxPro, with its $10M funded demo account and expanding Knowledge Hub, mainly caters to experienced traders. Beginners might find its account and fee structure challenging to understand.
  • There are no passive investment options such as copy trading or interest on cash. While traders might not find these essential, competitors like eToro, which accommodate both active and passive investors, offer more extensive services.

Our Take On IG

"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."

Pros

  • The web-based platform supports traders at every level, offering advanced charting tools and real-time market data vital for trading. Additionally, IG now includes TradingView integration.
  • As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
  • IG stands out with its extensive range of instruments, offering stocks, forex, indices, commodities, and cryptocurrencies. Additionally, it has recently introduced US-listed futures and options, along with an AI Index. These options enhance opportunities for diversification in trading.

Cons

  • IG has ended its swap-free account, diminishing its attractiveness to Islamic traders.
  • Based on tests, stock and CFD spreads remain less competitive than the lowest-cost brokers, such as CMC Markets.
  • IG imposes a monthly inactivity fee of $12 after two years, discouraging occasional traders.

Our Take On IC Trading

"IC Trading offers an ideal environment, featuring top-tier execution speeds of around 40 milliseconds, extensive liquidity, and advanced charting tools, perfect for scalpers, traders, and algorithmic traders."
Christian Harris
Christian Harris
Reviewer

Pros

  • The streamlined digital account setup allows traders to commence trading swiftly, eliminating lengthy paperwork. Testing shows the process takes mere minutes.
  • IC Trading provides exceptional flexibility, allowing traders to open as many as 10 live accounts and 20 demo accounts. This enables the management of distinct profiles for various activities, including manual and algorithmic trading.
  • IC Trading offers top-tier spreads, with some major currency pairs like EUR/USD featuring spreads as low as 0.0 pips, making it an excellent choice for traders.

Cons

  • Although IC Trading operates under the reputable IC Markets group, it is licensed by the FSC in Mauritius, a regulator known for its limited financial transparency and lack of robust safeguards.
  • Unlike IC Markets, IC Trading lacks support for social trading via the IC Social app or the ZuluTrade platform.
  • Customer support was inadequate during testing, with multiple live chat attempts going unanswered and emails ignored. This raises significant concerns regarding their capacity to manage urgent trading issues.

Our Take On Eightcap

"Eightcap excels for traders, offering diverse charting platforms, educational Labs, and AI tools. With over 120 crypto CFDs, it stands out in crypto trading and has won our 'Best Crypto Broker' award twice consecutively."

Pros

  • In 2021, Eightcap enhanced its lineup, now providing an extensive range of cryptocurrency CFDs. It offers crypto/fiat and crypto/crypto pairs, along with crypto indices for comprehensive market exposure.
  • With spreads starting at 0 pips, minimal commission charges, and leverage up to 1:500 for select clients, Eightcap delivers affordable and flexible trading opportunities. These conditions suit various strategies, such as trading and scalping.
  • Eightcap has excelled in all essential trading areas, surpassing all rivals to clinch our 'Best Overall Broker' award for 2024. It also earned the titles of 'Best Crypto Broker' and 'Best TradingView Broker' for 2025.

Cons

  • Despite the growing range of tools available, Eightcap lacks popular industry resources such as Autochartist and Trading Central. These provide advanced charting analytics, live news, and essential market insights for traders focused on short-term strategies.
  • Despite a helpful array of educational guides and e-books in Labs, Eightcap lags behind IG's extensive resources for aspiring traders. IG boasts a dedicated Academy app and features 18 diverse course categories.
  • Eightcap must enhance its range of over 800 instruments to rival top competitors like Blackbull Markets, which offers 26,000+ assets, especially improving its limited commodities selection.

Limit orders can be used in two ways:

1)    Entry Limit: Here the trader is using the limit order as a point of entry into the trade. This is known as an entry limit order. This is the type mostly used in forex.

2)    The limit order can also be used as a price barrier beyond which the trader cannot be executed. This is mostly used in the stock markets as well as the options and futures markets.

We will restrict our discussion to the application of the limit order in the forex market. The usage of limit orders varies with the type of platform used.

Trading Limit Orders with MetaTrader

If the trader is using the MetaTrader4 platform, limit orders are only used as a type of pending order in the market. This is in the form of Buy Limit and Sell Limit orders. Here, limit orders are used by the trader when there is an expectation that prices will either advance or retreat to a certain key price level, and then undergo a reversal. So in this case, the trader is using the limit order to trade in the direction of the reversal. A common application of this strategy is when the trader is trying to enter a trade after a retracement from a previous trend. Since he does not want to get caught out by retracing prices after failing to catch the initial move early, he can use a Buy Limit or Sell Limit order to re-enter the trade under favourable price conditions.

Using Limit Orders with Other Retail Forex Platforms

If you are using the ActFX or Currenex Classic retail forex platforms, the limit order can be used to set the Take Profit point after a trade has been executed. It can also be used to initiate trade entry at a price better than market price, by using the Entry Limit Buy or Entry Limit Sell functions on these platforms.

Examples of Limit Orders in Action

A trader known as Brother John wants to go long on the EURUSD. The market price of the asset is at 1.2498. His analysis of the charts tells him that there will be a strong bullish run, but he is wary of the current market price being too close to a psychological resistance of 1.2500. The nearest support is at 1.2456. He decides to set a Buy Limit order at the nearest support, with a 40 pip stop loss and 50 pip profit target.

Another trader named Brother Chris sees the same trade, and decides to jump in at market price with a 40 pip stop loss. Which of these two traders will smile to the bank at the end of the day?

Why are Limit Orders Important?

Limit orders protect a trader from unnecessary and avoidable drawdowns. For instance, if a trader has an expectation to buy an asset such as the USDJPY at 78.67, but he feels that the price of the asset will drop to 78.20 before continuing an advance to levels beyond 79.50, he can afford to set a limit order to trigger the trade at the lower price range, and follow it to the end. This way, he will avoid his trade having to go 47 pips negative before breaking even and returning a profit. So a limit order will not only save him from the 47-pip drawdown in this case, but will actually add the 47 pips to his profit potential in the trade.

Using the limit order another way, the trader can prevent his trade from being filled in at a price higher than what he is willing to pay. For instance, if he wants to purchase the Euro Futures contract at a price that is not more than $20, he can set the limit order at that point and so prevent his trade from being entered at a much higher price where profit potentials before a profit-taking selloff are low.