brokers considering banning market orders!

[lwclasses]

Be interested to know peoples thoughts on the idea of brokers banning market orders:

http://www.tradersmagazine.com/news/...&st=amail&s=01

[Jim]

Hi LW,

That headline is a trifle misleading! In fact "converting a market order into a limit order" is a way of limiting slippage in fast markets. You should be doing that already, without relying on the broker and/or exchange to do it for you!

Cheers,

Jim