Can I cancel my Limit Order?

You can cancel or change your Limit Order at any time before your target rate is reached. Once the target rate is met, the order becomes legally binding and cannot be cancelled. If you don’t pay within 3 business days after expiry, OFX may cancel the order and you could be liable for losses. The article also mentions alternative FX solutions like Forward Contracts.

  • Oct 14, 2025
  • Knowledge

Details

Your Limit Order can be cancelled or changed anytime before your target rate is reached. 

If you decide to cancel your Limit Order, simply follow these steps:

  1. Log in to your OFX account.

  2. Navigate to the “Limit Order” tab.

  3. Click the trash can icon next to the order.

  • image-20251018-203609.png

    The status will update to “Cancelled”.

image-20251018-203834.png

If you need additional technical support, contact our OFX specialist.

Why is this page important?

This page shows you how to cancel a Limit Order. Note that if your desired exchange rate is reached, you cannot cancel your Limit Order as the deal becomes legally binding when the market hits your target rate. If you don’t make payment within 3 business days of the expiry date, OFX may cancel the Limit Order and you’ll be liable for any losses. 

Remember, if you book a Limit Order, it may mean losing out if the market rate continues to move above your target.

Next steps:
Once you’ve cancelled your Limit Order, you can create a new Limit Order again. There are also other FX solutions available, such as Forward Contracts. Forward Contracts allows you to lock-in the current exchange rate for a transfer up to 12 months in advance.

However, if you book a Forward Contract, it may mean losing out if the market rate improves because you’re contracted to settle at the agreed rate.

Related articles:

Title
Can I cancel my Limit Order?
URL Name
kb-3168305192-can-i-cancel-my-limit-order
Limit Orders