Market Order

A market order is an instruction to buy or sell an asset right away at the best price currently available in the market. When you place a market order, you specify whether you want to buy or sell and how much, but you don't set the price—the trade happens instantly, filled from the existing orders in the order book.

Because you can't choose the price, market orders differ from limit orders, where you set a desired price and wait until someone matches it. Market orders always act as taker orders, since they immediately match with other traders’ existing offers. This makes them useful when you need to enter or exit a trade quickly, though the final price may vary depending on market conditions and liquidity.