I have read each explanation, but what you fail to understand is that if I place a limit order for 100 shares at $50 and get those 100 shares for $50 then what the Fu©k does it matter ... What better execution should I be willing to get if I'm personally willing to pay the $50 a share price execution....I see the same price execution on my other broker accounts I pay a commission for when I put a limit buy order into a stock at a preferred price..
Because 49.75 is better. But don't sweat it, RH's entire business model is based on the ignorance of your above statement.
As long as you doing limit orders , RH is a great broker , but it comes down to reliability , if market starts tanking and you can't get out that 's a problem , if you trade like a lunatic , you won't make any money . so commissions don't really matter. Sometimes its better to pay higher commission and don't trade much.
So far today 2 daytrades in SOXS!!! I feel a huge rally coming however I think apple drops below $150 today or early next week...apple weakness equals market weakness...even amazon, I see amazon below 1000 in 2019!!
Robinhood told me I saved $2303 in commissions in 2018! I'm not sure how they calculated it. Probably based on expensive brokers. Nevertheless, it's good savings!
Remember I placed a limit order to buy at $50.00 NOT $49.75.....why would it execute at $49.75 if I put a limit order in at $50 while it was trading at $52.84.....anyway I saved over $2600 worth of commissions for 2018!!!!!
He doesn't know what he's talking about.. I have used brokers where I paid commissions and never in my life have I placed a trade on a stock as a limit order and had it fill under my limit set price.....
Mine was $2600 It was probably based off a $6-7 commission cost since most brokers are now at that price range.