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Robinhood has terrible order execution. I switched to TDA after getting sick of limit orders executing nowhere near my limit price. Market orders were abysmal a
by frockington1 7y ago
Robinhood has terrible order execution. I switched to TDA after getting sick of limit orders executing nowhere near my limit price. Market orders were abysmal as well
- evanpw 7y agoLimit orders can only execute at the limit price or better. Are you saying that you were getting better prices than you expected, or am I completely misreading this?
- frockington1 7y agoRobinhood would ignore my limit and execute above it on buys
- evanpw 7y agoSuper illegal if true: https://www.finra.org/contact-finra/whistleblower https://www.finra.org/contact-finra/whistleblower
- hcknwscommenter 7y ago" limit orders executing nowhere near my limit price" How is that possible/legal?
- hedora 7y agoMaybe they were stop orders? Stop orders execute a market trade when the price hits a limit. So, there’s a heuristic around when “the market price hits the limit”. If you execute too late, it might not execute at all. Too close to the limit, and it might cross back over. Also, stop orders are usually done to limit losses, so adding delay increases exposure to loss. https://www.diffen.com/difference/Limit_Order_vs_Stop_Order https://www.diffen.com/difference/Limit_Order_vs_Stop_Order Limit orders typically have higher commissions. Maybe stop orders were being confusingly marketed as limit orders?