What Is a Market Order?
A market order is an instruction to buy or sell a security immediately at the best available current price. It prioritizes speed and completion over price: the order is almost always filled, but the final price may differ from the last quoted price, especially in fast-moving or thinly traded markets.
Slippage
The difference between the expected and actual price is called slippage; it tends to be larger for big orders and less liquid securities.
Market vs. Limit Orders
A limit order sets a maximum buy price or minimum sell price but may not be filled.
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Last updated: September 29, 2026. This definition is for general educational purposes only. It is not financial, investment, tax, legal, or medical advice, and it does not recommend any product or course of action. For decisions about your own situation, consult a qualified professional.