Glossary entry
A market order instructs an immediate purchase or sale at the best available prices, subject to market operation and order acceptance. It prioritizes execution over a specified price. The last traded price is only a reference, and an order may fill in several parts as it consumes available interest at different price levels.
Illustrative example
A market buy for 100 shares fills 60 at 15.00 and 40 at 15.05. The average execution price is 15.02 before fees.
What to consider
The final price is uncertain, especially in fast or illiquid markets. Trading halts and session restrictions can also prevent immediate execution.
General information, not a personal recommendation. Product availability, rights, and obligations are determined by the relevant provider, jurisdiction, and approved agreements.