A market order is an instruction to buy or sell immediately at the best price currently available. It prioritises speed and certainty of execution over price — you will almost certainly trade, but the exact price is whatever the market offers at that instant.
That makes it the opposite of a limit order, which sets the price you are willing to accept but may never fill. In a deep, liquid market a market order fills very close to the quoted price; in a thin one it can fill at a noticeably worse level.
The risk shows up in fast or illiquid markets, where the price can move between sending the order and its execution, or where a large order eats through several price levels. For big trades especially, the convenience of a market order can carry a real cost in slippage.
Worked example
A market order to buy fills at the lowest available ask right now, whatever that price turns out to be.
This definition is general education, not investment advice. Markets — especially crypto — are volatile and you can lose money. Please read our disclaimer and see our methodology.
Related terms
Frequently asked questions
What does Market order mean?
An instruction to buy or sell immediately at the best price currently available, as opposed to a limit order at a chosen price.
Is Market order a crypto or a stock-market term?
It applies across both cryptocurrency and traditional stock markets.
Is this Market order definition financial advice?
No. The Market Capitalize glossary is educational — it explains terms and concepts, never a recommendation to buy or sell. See our disclaimer.