™A $50 buy limit prevents paying more than $50 per share under its conditions, but a quoted $50 offer does not guarantee that your order fills.
Orders & Market Structure
Limit order
An order to buy or sell only at a specified price or better; execution is not guaranteed.
Plain-English context
Put the definition to work.
A trade touching your limit does not assure your fill; order queue, timing, routing and displayed size can matter.
Further reading and verification. Examples are hypothetical, not current quotes or recommendations. Product terms, tax treatment and market rules can change. FINRA — order types and execution