What is a Market Order?
Example

What is a Market Order?

The market order is a common order type that is widely employed by investors who want a current execution of a trade. When you place a market order, you will receive the current price at the time your order is sent for execution.

Beware! The price you receive for the market order may be dramatically different from the quote provided at the time you entered your order.
This may occur during times of above normal volume, low liquidity or increasing volatility in the market place.

What if I want a Specific Price?
If you want a specific price, you should place a limit or stop limit order.

Example

Why use a Market Order?
XYZ is trading at $250.00 and you would like to purchase the underlying no matter what the price.

1)What to do?
You send a market order to buy XYZ.
Enter the order: Enter a Market order to buy 100 shares of XYZ

2)What Happens Next?
You are executed at the current market price, which could be different than the quote at the time you entered the order.