The type of order which tells a broker to buy or to sell a stock immediately is known as a limit order.

Name: The type of order which tells a broker to buy or to sell a stock immediately is known as a limit order.
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The type of order that tells a broker to buy or sell a stock immediately is a market order, not a limit order. A limit order specifies a desired price at which the broker should execute the trade, and it may not be executed immediately if the stock price does not reach the specified limit.

The Type of Order Which Tells a Broker to Buy