A Market Order is the simplest type of trade. It instructs your broker to complete the transaction as quickly as possible at the best available price. There are only two market order types - Buy and Sell.
📄 Note
Market orders are executed in accordance with our best execution policy obligations. The execution is immediate on most occasions, but sometimes it can take longer, depending on the market conditions.
- Market 'Buy' Order will execute on the best available asking price.
- Market 'Sell' Order will execute on the best available bid price.
How do I set a market Buy order?
- Select a preferred instrument and open it
- Press "BUY"
- Select the type of your Market order - Number of shares or Value order
- Enter the number of shares or the amount that you wish to invest
- Review the order and Send it for execution.
How do I set a market Sell order?
- Select an instrument from your portfolio
- Press SELL
- Select the type of your Market order - Number of shares or Value order
- Enter the quantity or the amount that you wish to Sell
- Review and Send for execution.
❗️ Important
When using a Market order, there's a risk that the price may change before your order is executed. You may end up buying or selling at a higher or lower price than expected. If you want to buy or sell at a specific price, consider using a Limit order.
What are the pros and cons of Market orders?
Pros
- Speed of execution. On most occasions, these orders take seconds to execute.
- Certainty. You are much more likely to get the shares you want, but you don't have extra certainty over the price at which you will get them.
Cons
- Vulnerability to price volatility. Market orders are executed at the current market price and are susceptible to price movement. This can result in significant losses or missed opportunities in a volatile market.
💡 Example
- You have placed an order to buy shares. The price spikes and you may end up paying more than you intended.
- You want to sell your shares. The current price suddenly drops and you end up receiving less than expected.