5. Tips for Setting a Limit Order

1. Set a rate that is not too far from the market rate- The market rate is unlikely to fluctuate drastically so use the current market rate as a benchmark for setting your limit order.

2. Set at a rate that is slightly better than all the other sell orders currently placed in the market- this ensures that your order will be fulfilled faster.

   Here's an example:
   Assume that the current market is buying IMVU credits at 2800 IC/USD.
   Anne submits an order to sell her credits at 2500 IC/USD.
   Bob submits an order to sell his credits at 2600 IC/USD.
   You submit an order to sell your credits at 2700 IC/USD.
   In this case, your order will be fulfilled before Bob's, and Bob's order will be fulfilled before Anne’s.

   You can find a list of all the current sell orders in the market under “Open sell orders” on the order page.

3. Tracking your Limit Order-
   

   • Limit Order Status
     Your Limit Order will be marked as Pending on your My Account > Summary page if your order has yet to be completed.
     
     The status will be changed to Completed once your order is fulfilled.
     

   • Locked Balances
     Virtual/ real currencies currently being traded in a Limit Order will be placed under your Locked Balances; meaning you cannot withdraw or use them while the trade is still ongoing.

   • Level of Completion
     The level of completion of your Limit Order will be tracked.You can check how much of your currency has already been traded and how much left has not.
     
     You can cancel your Limit Order at any point of time. The proceeds from the trade thus far will be credited to your FMX Wallet; the amount of currency that has yet to be traded will be returned to you as well.

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