Limit orders and 1% spread question

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Limit orders and 1% spread question

some exchanges which don't charge commission like robinhood and webull instead charge a 1% spread when buying or selling. Does this also affect limit orders?

  • For example, If I place a limit order to buy at $100, will the order be filled once the ask reaches $100? Or will it fill once the ask reaches 1% lower than $100, ($99), so it can also include the spread?

    I assume selling would work the same, just inverse.

  • Does it matter whether im buying crypto or stock?

  • is it the same for all exchanges?

submitted by /u/Efficient_Frosting_5
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