All terms
An order to trade immediately at whatever price is available.
A market order guarantees execution but not price. It walks up or down the order book consuming whatever liquidity it finds until it is filled.
In a deep market the difference is negligible. In a thin one, a market order can cost you far more than you expected.
Never use a market order on an illiquid token. You may fill several percent away from the quoted price.
That a market order gets you the market price. It gets you whatever is available, which in a thin book can be far worse than the price on the screen. On anything illiquid, a limit order costs you patience and saves you real money.
Common questions
When should I use a market order?
Why did my market order fill at a bad price?
Where this comes up on the site
The guides that actually use this word, rather than a list of everything we have written.
Where to go next
More trading terms
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