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.
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.