A market order is an order to buy or sell at the market price, i.e. without a specified price.
During the continuous trading session (9:30 AM - 12:00 PM & 1:00 PM - 4:00 PM)
For Hong Kong stocks, market orders cannot be put on hold in the system overnight and submitted until the market opens. They can only be submitted during the continuous trading session.
Market orders can be used for both stocks and related derivatives, while you cannot place one for Hong Kong stock options.
2.1 After you confirm the submission of a market order, Moomoo Financial Singapore Pte. Ltd. will submit it to the Hong Kong Stock Exchange at the five best bid or ask prices according to the buy or sell instruction.
2.2 A market order may be divided into several small orders for execution, and each small order may be filled at a different price.
2.3 If the number of placed orders is small, a market order may not be fully filled. The unfilled part will be automatically cancelled and, after being cancelled, will be in "Cancelled" status.
2.4 If the liquidity of a stock is poor or there is no placed order for the time being, a market order may not be filled and will be automatically cancelled. After being cancelled, the order will be in "Cancelled" status.
2.5 For a market order, we do not guarantee a better execution price. In particular, a market order may be filled at a higher or lower price when the market changes rapidly.
2.6 During the trading hours when the morning session or afternoon session has just opened, there may be a greater chance that transaction prices will deviate since orders that have accumulated before the market opens need to be processed.
2.7 For the sake of risk control, the price of a market order put on hold in the system is calculated as the current price * market order multiplier, and the market order multiplier is subject to adjustment by Moomoo Financial Singapore Pte. Ltd. from time to time according to market conditions. Your buying power will be reduced accordingly. After the order is filled or cancelled, the frozen part of your buying power will be released.