False Statement Regarding Orders in Trading

Of the following statements about trading orders, the 'false' one is:

• A limit-buy order provides the broker with the maximum price at which investors are willing to buy.
• A market buy order will purchase securities at the bid price.
• A limit-sell order is where investors specify prices at which they are willing to sell a security.
• 'If stock ABC is selling at $50, a limit-buy order may instruct the broker to buy the stock if and when the share price falls below $45.'
• A market order is simply an order to buy or sell a stock immediately at the prevailing market price.