Course Content
Understanding the Different Order Types
When you’re trading stocks or cryptocurrency, you interact with the market by placing orders: A market order is an instruction to buy or sell immediately (at the market’s current price). A limit order is an instruction to wait until the price hits a limit or better price before being executed That’s orders in a nutshell. Of course, each of these two categories has different variations that do different things, depending on how you want to trade. Curious? Read on.
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Understanding the Different Order Types
About Lesson

The basic kinds of market orders are buy and sell ones. You instruct the exchange to make a transaction at the best available price. Note that the best available price isn’t always the current value displayed – it depends on the order book, so you could end up executing your trade at a slightly different rate.

Market orders are good for instant (or near-instant) transactions. That’s about it, though. Fees incurred from slippage and the exchange mean that the same trade would have been cheaper if done with a limit order.

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