Apologies if this has been clarified already (I couldn't find it): I've just started using IB - when I place a Limit Buy it constantly fills above the limit specified. As an example, I've just bought 1 share of AMR, using a Limit Buy at 113.64. . . but it filled at 114.64. Am I missing something here?
i would look at whether there are rules in that market concerning odd lots (orders not placed in multiples of 100), being fillable outside the bid-ask quote. Absent that, there are also different rules for "fast markets".
You did not pay $114.64 for your AMR stock, did you? I doubt it. It just means someone else was willing to pay $114.64 so, got filled ahead of your limit order for $113.64? Stock prices fluctuate and not static, remember that.
I don't use IB nor have I ever used their software, but... Some brokers/platforms have a "chase" feature/setting for limit orders. Sierrachart for instance, has this feature. As stated, IDK about IB or it's warez.
What was AMR price when you entered the order? Were you filled instantly like if you were using a market order?