Market order is a buy or sell order that will be executed immediately at the current market rate. It only requires the volume of the order to be set.
Upsides: The order is executed immediately.
Downsides: The exact price of the order may be different from the current market price. If the order book has low liquidity, the average price may be less profitable than the market quotation.
The trader wants to exchange DASH/EUR in the volume of 1 DASH. If the market order is placed, it will be executed as following:
1. 0,06 DASH will be bought at 63,05 EUR;
2. 0,24 DASH will be bought at 63,18 EUR;
3. 0,43 DASH will be bought at 63,31 EUR;
4. 0,17 DASH will be bought at 63,44 EUR;
5. 0,1 DASH will be bought at 63,57 EUR.
The total position price will be 63,31 which is different from the first price at the order book.
How to place a market order:
1. Choose a currency pair from the Instruments List in the left part of the screen;
2. At the Order Panel in the lower right corner of the screen, choose BUY or SELL depending on what you want;
3. Choose the order Type - Market. The Price window will be locked and the price will be assigned automatically depending on the current market rate;
4. Enter the amount that you want to buy or sell;
5. The Value&fee window will automatically calculate the amount of the base currency, including the fees;
6. Press the Place Order button.