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What is market order

1. Definition

A market order is an instruction to buy or sell at the current market price, i.e. without a specified price. Take a buy order as an example:

Assume the market bid and ask prices of EURUSD are 1.02150 and 1.02160 respectively. Investors can choose to place a market order, which will be executed at the next available market price.


2. Explanations and Notes

2.1 Market orders are executed at the current market price, so there is no guarantee of a better execution price. If the market changes rapidly, there may occur a certain amount of slippage.

2.2 On the sell side:

      ● The take-profit price should not be higher than the best bid price.

      ● The stop-loss price should not be lower than the best bid price.

2.3 On the buy side:

      ● The take-profit price should not be lower than the best ask price.

      ● The stop-loss price should not be higher than the best ask price.