if the limit order is executed immediately, isn't that a market order?When you put in a limit order one of two things can happen: either the order executes immediately (sometimes called a marketable limit order), or the order does not execute immediately in which case it becomes a "resting (limit) order" and stays there until (1- it executes, 2-you cancel it or it is cancelled automatically at the close of business).
Market order and limit order are different kinds of orders.if the limit order is executed immediately, isn't that a market order?
That's not really my comment. If the best available price is 15.35 and you send a buy order (limit) @ 15.35, it'll be executed immediately (if there is enough supply) and you'll be charged market order fees (which are usually higher that limit fees). So in this case a Limit order is equivalent to a market order.Do you see the difference?