What is a significant characteristic of a 'stop-limit order'?

A stop-limit order is designed to give investors control over the price at which their order will be executed. When the market reaches a specified stop price, the stop-limit order is triggered and becomes a limit order. This means that the order will only be executed at the limit price or better, ensuring that the investor does not sell or buy at an undesirable price. This characteristic is particularly useful in managing risk and protecting profitability, as it allows the investor to set precise parameters for their trades.

The other options do not accurately describe the inherent nature of a stop-limit order. It does not automatically convert to a market order when a specified price is reached, nor does it trigger both market and limit orders. Additionally, stop-limit orders are available to all investors, not solely to professional traders.