Market-If-Touched Order

A market-if-touched (MIT) order is an order placed with a broker which specifies that a security must be bought or sold at market rates if and when its price reaches a certain limit.

An investor may use a market-if-touched orders to have their broker buy a specific stock if its price falls below a certain level.

On the other hand, they may also specify a limit which, if reached, triggers a market order for the sale of assets. Once the market order has been triggered, the assets in question will be bought even if the price climbs above the MIT threshold or sold even if the price falls below the MIT threshold.

More on this topic:
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Order types offered by Swiss brokers compared

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Editor Daniel Dreier
Daniel Dreier is editor and personal finance expert at moneyland.ch.

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