A market order is an instruction to buy or sell an asset immediately at the best available current price, prioritising speed over price control.
A market order tells your broker or exchange to execute a trade right away at the best price currently available in the market.
The main advantage is speed and certainty of execution. If you need to get in or out of a position immediately, a market order will fill almost instantly while the market is open and liquid.
The trade-off is price uncertainty. In fast-moving or thinly traded markets, the price you actually get can differ from the last quoted price, a phenomenon called slippage.
Market orders work best for liquid assets with tight spreads, where the difference between bid and ask is small. For less liquid assets or precise entries, a limit order gives you more control.
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