Friedberg Direct offers two kinds of limit orders, Limits (L) & Entry Limits (E/L).
A limit order is a request to trade an instrument at a predefined rate, as the price of an asset moves favourably for the trader's position. It is placed at a rate which is more favourable than the current market price. The order is placed on an open position and can be described as a profit-taking order, although it does not necessarily mean you are closing a position in profit. Limit orders are commonly referred to as “take profit” orders.
An Entry Limit is an order to open a trade at a predefined rate as the price of the asset moves unfavourably for the trader.
A Limit Sell order refers to the closing of a Buy position. A Limit Buy refers to the closing of a Sell position.
Friedberg Direct guarantees all Limit and Entry Limit orders.