Definition
An order to buy or sell right away at the best price currently available.
The story
A market order trades almost instantly, but the price isn't guaranteed. In a calm, busy market the fill is usually close to the last price shown. In a fast market, right after a big report for example, it can fill noticeably worse. That difference is called slippage.
Why markets watch it
It's the simplest order type and the default on many trading apps.
Connects to
We explain why it moves markets. What you do with it is your call. Commentary and education only. Not financial advice. All terms