Investing - Theory, News & General • Re: Can limit orders get worse prices than market orders?

I know the thread is 5 years old, but it started after most brokers switched to zero commission schedules with market makers filling most retail orders.

How is the statistics on the last page of this paper https://papers.ssrn.com/sol3/papers.cfm ... id=4403011 consistent with the narrative that using a marketable limit order does no harm vs. using a market order in terms of execution quality?

Although I used to believe the opposite, I now believe that markable limit orders can have much worse price improvement compared with market orders at some brokers.

I've noticed that my marketable limit orders at Robinhood usually had very low price improvement, so I've mainly switched to market orders and things have improved.

I've still been using marketable limit orders at Schwab and Fidelity, but I'll start experimenting with more market orders on stocks and ETFs that I've noticed little price improvement on.

Statistics: Posted by Lyrrad — Mon Aug 31, 2026 12:16 am