Limit Orders are a standard feature on most Equity and Forex trading platforms. The limit order allows you to set the execution price. Once the target price is set you can place orders based on a particular price as opposed to just executing an order wherever the market price may be. It also allows you to place an order at any time of day and not have to wait around for a particular price point to be met before executing the order. The system will execute the trade for you automatically when the limit order price is reached.
This is particularly important when trying to incorporate many technical and fundamental analysis based trading strategies. Traders generally have an idea as to which price point they wish to execute their trades. Sitting by the computer waiting for your price point or trying to watch multiple assets reach their execution prices is an inefficient way to trade. This has been a major drawback for binary options trading platforms.
With the incorporation of Limit Orders in the MarketsKing proprietary platform it shouldn’t be long before all the major platforms add this vital trading feature. In the meantime if you want to trade Binary Options on a platform that has limit orders you must trade with MarketsKing. Our preliminary testing of this broker has been favorable. A complete review will be forthcoming in the near future.