A limit order names your price and waits. A buy limit fills at that price or lower, a sell limit at that price or higher, and until it fills it sits in the order book as visible liquidity for everyone else. The guarantee is on price, not on execution: if the market never reaches your level, the order simply never fills.
Because a resting limit order adds depth to the book, most exchanges charge it the lower maker fee, and on some venues that fee is a rebate. For anything other than an urgent exit, the combination of price control and cheaper fees is why limit orders are the default choice for active traders.
Why has my limit order not filled?
The market has not traded at your price, or it touched the level but the orders ahead of yours in the queue absorbed the available size first.
Last updated October 17, 2026