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What is a limit order?
A limit order is a standing order with a "commitment to buy" if the gold or silver price reaches a buyer's desired value. For example, if gold is trading at $1,500, and a client wishes to buy gold at $1,465, we can create a limit order for our clients which is automatically executed and turned into an order if the price reaches $1,465.
To access your account, click the icon of a person in the top right hand corner of the home page. Then click 'Log In' on the drop down menu.
Once you have logged into your account, there is a button to “Place a Limit Order."
Once you have selected your product, you can set the strike price. The strike price is your desired "spot price” and does not include the product premium.
Select your desired number of units. Click the “calculate” button and the premium and the total unit price will auto-populate in fields.
Set your limit order expiration date from 1 day to 3 months. If your limit order does not strike during the set time period, it will expire.
Once you have submitted the limit order form you will receive an email confirming that we received your request. This request must be approved before it becomes active.
Once we have approved your limit order, you will receive an email confirmation.
You may cancel your limit order at any time by logging into your account and selecting the specific active limit order. The only way to change a limit order is to cancel an existing order and resubmitting a new one.
1. Limit orders are good for client-specified lengths of time and cancel automatically at 4:45 p.m. EST on the day specified.
2. We input limit orders using third-party hedging software. We can make no guarantees on behalf of the trading platform, and we cannot guarantee that a trade will be executed even if your desired value is met. Once a limit order has been created, we are equally beholden to the trading platform as our clients.
3. A limit order can be changed at any time at no charge as long as the trade has not executed.
4. A limit order is a firm order. If the limit order is executed, the order cannot be reversed. Should you cancel the order or fail to remit payment, you will be subject to a cancellation penalty as well as any market losses which, if unpaid, may result in legal action.
5. We confirm all limit orders with a credit card.
NOTE: The commodities market is a 24 hour market trading Sunday night through Friday at 5:00 p.m. EST weekly. Many limit orders execute in the middle of the night.