Market order

A market order is filled immediately at the best available price: at the ask for a buy, at the bid for a sell.

It is the simplest order: you click buy or sell and you are filled straight away. Its priority is speed, not price.

In a calm, liquid market, the price you get is very close to the one shown. During a release or on a thin market, however, the fill can be noticeably different: that is slippage.

A market order makes sense when you want in or out without delay, for example to cut a position. To enter at a precise level, a limit or stop order is often better. Remember to set your stop loss and take profit as soon as you open.

The full lessonOrder types: market, limit, stop, OCO and trailing stopMarket, limit, stop, stop-limit, OCO, trailing stop, take profit and stop loss orders: how each trading order type works and when you should use each one.