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What is Market order?

An order that executes immediately at whatever prices are available. Certainty about time, no certainty about price.

A market order buys certainty about time and gives up certainty about price. It executes immediately against whatever is resting, which is exactly what you want when getting filled matters more than the last fraction of a percent — and exactly what you do not want in a thin book, where 'whatever is resting' can be several levels away.

Watch it happen

Every idea on this page is something you can see on a live tape rather than take on faith. The board draws real executed trades as an army: buyers advance from the left, sellers from the right, and the glowing line between them is the price. Here is how to read it.

Related terms

Market impactOrder flowPartial paymentSlippageSpoofingTakerWallWhale All 37 terms

Told first when the board changes

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