An order that executes at the best available price.

How it worksMarket order explained

A market order eliminates the guesswork of execution when placing orders; it takes a set amount of capital and exchanges it for the maximum amount of assets it can get at current prices. In other words, individual assets might be purchased or sold at higher or lower than average, depending on the liquidity (availability) of the assets at different price points.

These types of orders ensure that your transactions will be executed quickly, but with the trade-off of purchasing or divesting assets at rising or falling prices. The difference between the market price and your average purchase price is known as “slippage.” The larger the order, the higher slippage potential there is, as it takes a larger portion of the order book to fulfil. 

It’s important to bear in mind that volatility can lead to major changes in execution prices. Users should only use market orders when their wish to buy or sell an asset supersedes their desire for a guaranteed or stable price.

Market orders should be viewed as a means of acquiring or disposing of your assets as quickly as possible, at the expense of profit optimization. Even a few seconds' difference in when a market order was placed might produce a completely different outcome.

Illustrative AXO price: 12.5 ADA
Use case

How it is used

After doing some research, Charles has concluded that the AXO token’s price is likely to rise due to its growing popularity and use. Charles is satisfied that the current prices are the best he is likely to get, so he submits a market order to purchase $10k worth of AXO, which is fulfilled instantaneously at the best available prices.

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