diff --git a/src/api/ledger/balances.js b/src/api/ledger/balances.js
index 856031bd..f690b282 100644
--- a/src/api/ledger/balances.js
+++ b/src/api/ledger/balances.js
@@ -19,13 +19,22 @@ function getTrustlineBalanceAmount(trustline) {
   };
 }
 
-function formatBalances(balances) {
-  const xrpBalance = {
-    currency: 'XRP',
-    value: balances.xrp
-  };
-  return [xrpBalance].concat(
-    balances.trustlines.map(getTrustlineBalanceAmount));
+function formatBalances(options, balances) {
+  const result = balances.trustlines.map(getTrustlineBalanceAmount);
+  if (!(options.counterparty ||
+       (options.currency && options.currency !== 'XRP')
+  )) {
+    const xrpBalance = {
+      currency: 'XRP',
+      value: balances.xrp
+    };
+    result.unshift(xrpBalance);
+  }
+  if (options.limit && result.length > options.limit) {
+    const toRemove = result.length - options.limit;
+    result.splice(-toRemove, toRemove);
+  }
+  return result;
 }
 
 function getTrustlinesAsync(account, options, callback) {
@@ -54,7 +63,7 @@ function getBalancesAsync(account, options, callback) {
       _.partial(utils.getXRPBalance, this.remote, account)
     ),
     trustlines: _.partial(getTrustlinesAsync.bind(this), account, options)
-  }, composeAsync(formatBalances, convertErrors(callback)));
+  }, composeAsync(_.partial(formatBalances, options), convertErrors(callback)));
 }
 
 function getBalances(account: string, options = {}) {
diff --git a/test/api-test.js b/test/api-test.js
index 53fc4370..9eddf337 100644
--- a/test/api-test.js
+++ b/test/api-test.js
@@ -196,9 +196,45 @@ describe('RippleAPI', function() {
     });
   });
 
-  it('getBalances', function() {
-    return this.api.getBalances(address).then(
-      _.partial(checkResult, responses.getBalances, 'getBalances'));
+  describe('RippleAPI', function() {
+
+    it('getBalances', function() {
+      return this.api.getBalances(address).then(
+        _.partial(checkResult, responses.getBalances, 'getBalances'));
+    });
+
+    it('getBalances - limit', function() {
+      const options = {
+        limit: 3
+      };
+      const expectedResponse = responses.getBalances.slice(0, 3);
+      return this.api.getBalances(address, options).then(
+        _.partial(checkResult, expectedResponse, 'getBalances'));
+    });
+
+    it('getBalances - limit & currency', function() {
+      const options = {
+        currency: 'USD',
+        limit: 3
+      };
+      const expectedResponse = _.filter(responses.getBalances,
+        item => item.currency === 'USD').slice(0, 3);
+      return this.api.getBalances(address, options).then(
+        _.partial(checkResult, expectedResponse, 'getBalances'));
+    });
+
+    it('getBalances - limit & currency & issuer', function() {
+      const options = {
+        currency: 'USD',
+        counterparty: 'rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B',
+        limit: 3
+      };
+      const expectedResponse = _.filter(responses.getBalances,
+        item => item.currency === 'USD' &&
+        item.counterparty === 'rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B').slice(0, 3);
+      return this.api.getBalances(address, options).then(
+        _.partial(checkResult, expectedResponse, 'getBalances'));
+    });
   });
 
   it('getBalanceSheet', function() {
diff --git a/test/fixtures/api/rippled/account-lines.js b/test/fixtures/api/rippled/account-lines.js
index f12b7b6e..31b87037 100644
--- a/test/fixtures/api/rippled/account-lines.js
+++ b/test/fixtures/api/rippled/account-lines.js
@@ -2,7 +2,7 @@
 const _ = require('lodash');
 const BASE_LEDGER_INDEX = 8819951;
 
-module.exports.normal = function(request, options={}) {
+module.exports.normal = function(request, options = {}) {
   _.defaults(options, {
     ledger: BASE_LEDGER_INDEX
   });
@@ -16,8 +16,7 @@ module.exports.normal = function(request, options={}) {
       marker: options.marker,
       limit: request.limit,
       ledger_index: options.ledger,
-      lines: [
-        {
+      lines: _.filter([{
         account: 'r3vi7mWxru9rJCxETCyA1CHvzL96eZWx5z',
         balance: '0',
         currency: 'ASP',
@@ -252,12 +251,12 @@ module.exports.normal = function(request, options={}) {
         quality_out: 0,
         freeze: true
       }
-      ]
+      ], item => !request.peer || item.account === request.peer)
     }
   });
 };
 
-module.exports.counterparty = function(request, options={}) {
+module.exports.counterparty = function(request, options = {}) {
   _.defaults(options, {
     ledger: BASE_LEDGER_INDEX
   });
@@ -271,8 +270,7 @@ module.exports.counterparty = function(request, options={}) {
       marker: options.marker,
       limit: request.limit,
       ledger_index: options.ledger,
-      lines: [
-      {
+      lines: [{
         account: 'rvYAfWj5gh67oV6fW32ZzP3Aw4Eubs59B',
         balance: '0.3488146605801446',
         currency: 'CHF',