Investopedia says that a limit order is:

An order placed with a brokerage to buy or sell a set number of shares at a specified price or better.

Investopedia says that an at-or-better order is:

An order condition instructing a broker to only fill a transaction at a specific price or above it.

Isn't "at a specified price or better" the same as "at a specified price or above"?

What is the difference between a limit orders and an at-or-better order?

2 Answers 2


Both mean same. Different regions use different terminology. Wikipedia describes http://en.wikipedia.org/wiki/Order_(exchange)

A limit order is an order to buy a security at no more than a specific price, or to sell a security at no less than a specific price (called "or better" for either direction).

  • 1
    Growing up in NYC, milk carton read "In NYC, may be sold until Midnight of date stamped. In NJ, may not be sold after date stamped." Even as a kid, I took note of these things. Dec 4, 2013 at 16:50
  • Yet isn't it odd that the same place (Investopedia) use different terminology for the same things?
    – Pacerier
    Dec 10, 2013 at 10:52
  • Investopedia is describing all terminologies just like a Dictionary. Nothing wrong. However it would have helped if they linked up the terms.
    – Dheer
    Dec 10, 2013 at 10:57

Some exchanges make the differentiation between "Limit" ("strict limit") and "Limit or better", meaning that if the exchange is trading at 99-100 and you send a Limit order to BUY at 101, you'll get filled at 101, not 100.

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