> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rio.trade/llms.txt
> Use this file to discover all available pages before exploring further.

# Placing limit orders

### Requirements to start the flow.

<CardGroup cols={2}>
  <Card title="API key" icon="shield-keyhole">
    Have an API key ([Tutorial here](/quickstart#api-key-generation)).
  </Card>
</CardGroup>

### <Icon icon="arrow-progress" iconType="solid" /> Limit order flow

Limit orders on Rio allow you to specify a limit net price, which is the all-in price including all taxes and fees that you are targeting. In this walkthrough, we will go through the process of creating a limit buy order.

<Steps>
  <Step title="Register the deposit crypto address">
    Before creating a buy order, you need to register the crypto address that will receive the funds. This only needs to be done once per address-currency pair.

    <Card title="Go to create a new crypto address" icon="square-code" href="/api-reference/address/create-address" />
  </Step>

  <Step title="Create a limit order quote">
    When creating a limit order quote, you need to specify an `orderType` of `limit`. You also need to specify the limit net price in the `limitNetPrice` field.

    <Card title="Go to create quote endpoint" icon="square-code" href="/api-reference/quotes/create-quote" />

    <Note>
      The quote response will include a `marketPrice` field. This is the mid market price that will trigger the order, calculated backwards from your specified `limitNetPrice` using your account's taxes and fees.
    </Note>
  </Step>

  <Step title="Place the limit order">
    No extra parameters are needed to create a limit order.

    <Card title="Go to create order endpoint" icon="square-code" href="/api-reference/orders/create-order" />
  </Step>

  <Step title="Order enters 'Waiting for target price' status">
    After placing the limit order, it will enter a status called `awaitingLimitPriceCondition`. The order will remain in this status until:

    * The market organically reaches your target mid market price, OR
    * The Rio ops team or one of Rio's trading algorithms decide to trigger your order early if they can stretch to that price

    You can monitor the order status by polling or subscribing to webhooks.

    <Card title="Go to check order status" icon="square-code" href="/api-reference/orders/get-order" />
  </Step>

  <Step title="Order execution and trigger">
    Once the target price is reached and the order is triggered, you'll receive an
    email notification and the order will continue with the normal order
    lifecycle. Wait for the order to have a status of `awaitingPayment`.
  </Step>

  <Step title="Pay for the order">
    Send payment to the bank account specified in the `paymentInstructions` field
    of the order. Do not forget to include the reference number.
  </Step>

  <Step title="Confirm payment (optional)">
    This final step is only necessary if the payment is made in USD outside of the United States, or if the order was placed in our sandbox environment and you want to simulate a successful payment.

    <Card title="Go to confirm payment" icon="square-code" href="/api-reference/bank-payments/check-bank-payment" />
  </Step>

  <Step title="Wait for funds">
    Rio will send the funds to your wallet in the next few minutes.
  </Step>
</Steps>

### <Icon icon="exclamation-triangle" iconType="solid" /> Important notes about limit orders

<Note>
  **Required permissions**: limit orders are not enabled by default. Please
  contact support to enable this feature for your account.
</Note>

<Note>
  **Price protection**: You cannot specify a limit order at a price that is
  worse than the current mid market price. If you attempt to do so, the system
  will automatically adjust the limit net price to what it would be in a market
  order.
</Note>

<Note>
  **Price rounding**: In limit order quotes, you may notice that the
  `limitNetPrice` is not exactly the same as the `netPrice` (may differ by a few
  decimals). This is due to rounding requirements for banking rails compliance -
  for example, we cannot send nor receive $543.459 MXN, it would need to be
      rounded to $543.46 MXN. Because of this, some net prices are mathematically
  impossible. The system ensures the `limitNetPrice` and `netPrice` are as close
  to identical as mathematically possible.
</Note>

<Note>
  **Scheduling orders**: You can specify a `timeInForceStartsAt` and
  `timeInForceEndsAt` to schedule a limit order to be executed from a specific
  time and/or to a specific time.
</Note>

<Note>
  **Daily re-quoting for T+n orders**: For T+n orders, the system will re-quote
  the order every day at 12:00 AM in the time zone of the corresponding order
  country. This means you may see a new quoteId in the order document as well as
  a new `marketPrice` field. The `limitNetPrice`, however, will remain
  unchanged. This is to account for any changes in schedule. This does not
  affect regular default settlement orders.
</Note>

<Note>
  **Order cancellation**: You can cancel a limit order while it's in
  `awaitingLimitPriceCondition` status at any time. Doing so will permanently
  cancel and delete the order.
</Note>

<Note>
  **Early execution**: While limit orders are primarily triggered when the
  market organically reaches your target price, the Rio ops team or one of Rio's
  trading algorithms may decide to trigger your order early if they can achieve
  your specified price.
</Note>

<Note>
  **Partial fills**: Limit orders can get partially filled. When this happens,
  the order gets split into two. The original order gets updated with the new
  amount that was filled and the new order has the remainder at the same limit
  price. The new order also has a `parentOrderId` field that references the
  original order.
</Note>

<Warning>
  **Geographic restriction**: Limit orders cannot be placed in the United
  States.
</Warning>

<Note>
  **Disclaimer**: All technical documentation is subject to the terms and
  conditions, which apply supplementarily and take precedence over the
  documentation.
</Note>