What happens to the difference between the limit order and executed order

Question

Say I place a limit order at 100$ for IBM using Robinhood. While waiting for it to be executed, the price goes down, and the order is executed at cheaper than my limit, say 99$.
My question is, what happens to that 1$? Does Robinhood keep the difference?

Tanner Swett · Answer

If you place a limit buy order for $100 and it's executed at $99, then you only pay $99. You keep the remaining $1.
If you place a limit sell order for $100, it will not be executed at $99.

What happens to the difference between the limit order and executed order

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