Market Order
Market Microstructure glossary · Market Microstructure Fundamentals
Definition
An order to buy or sell immediately at the best available price.
Market Order in plain English
A market order says "I want to trade RIGHT NOW — just give me the best price currently available, whatever it is." You're trading certainty of price for certainty of speed: you're guaranteed to trade almost instantly, but you don't get to lock in an exact price beforehand. It's like walking up to a busy food stand and saying "one of whatever's ready, at whatever it costs" instead of haggling — you eat immediately, but you accept the going rate. This is the opposite of a "limit order," where you name your price and wait, risking that your trade never happens.
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Practice Market Order
Which order type generally seeks execution at the best currently available prices?
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