Market Order
Also called: market buy, market sell, at market
An instruction to buy or sell at the best available price right now.
Definition
A market order is the simplest instruction you can send to a broker: execute immediately at whatever price is available. Buy orders fill at the ask, sell orders at the bid.
Market orders prioritise speed over price — useful when you need to be in or out of a trade right now (news event, stop-out emergency), but in fast or illiquid conditions they’re vulnerable to slippage between the price you saw and the price you got.
Example
EUR/USD is quoted 1.0800 / 1.0802. You click Buy on a 1.0-lot market order. Your fill comes back at 1.0802 (the ask). If the market is moving quickly the fill could be 1.0803 or worse — that gap is slippage.
Why it matters
On gaps (weekend open, major news), market orders can fill far from the displayed price. If you need price certainty, use a limit order instead.
FAQs
Does a market order always fill?
Almost always — as long as there's liquidity. The only question is at what price.
Is a market order safer than a limit order?
It guarantees execution but not price. A limit order guarantees price but not execution. Pick based on which one matters more for the trade.