What is real-time market order?

[luvya]

Ok, let me get this straight....

It's $7 each trade on scottrade, but I also notice there is something called "Real-time market order" and that costs considerably more, I wonder what the heck that is? And what are the major difference between this and the $7 trade?


I am doing my dilligence before I dive into the stock market.

 

[MikeMike]

almost positive that would me the instant you purchase it you buy it, not being delayed 20-30 minutes maybe increasing, or decreasing the cost.

MIKE

 

[KLin]

SEC info

 

[rh71]

there's real time where they buy it ASAP for you vs. a batch order where they put a bunch of orders in at one time (at like 2pm). IMO, always do real-time, even if it means a $15 fee. I have personal experience with that and I came out on the "losing" end... shoulda sprung for it.

 

[Doggiedog]

Goes straight to the exchange vs going through a trader or broker. You get much faster execution and no conflicts of interest.

 

[Doggiedog]

SEC Probes Brokers

This is what I was talking about conflicts of interest. When you have an market order, the broker sometimes sits on a trade putting his interests before yours in a lot of situation. This happens an awful lot which is why its worth it to pay a little more to get better execution.

 

[JetsFanatic]

Originally posted by: Doggiedog
Goes straight to the exchange vs going through a trader or broker. You get much faster execution and no conflicts of interest.

 

[IHateMyJob2004]

Originally posted by: luvya
Ok, let me get this straight....

It's $7 each trade on scottrade, but I also notice there is something called "Real-time market order" and that costs considerably more, I wonder what the heck that is? And what are the major difference between this and the $7 trade?


I am doing my dilligence before I dive into the stock market.

Not a day trader, don'tworry about it.