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What are Market Order and Limit Order?
What are Market Order and Limit Order?

There are primarily two types of orders: market orders and limit orders. What are their differences? Let's find out.

Updated over a week ago

Market Order

A market order is executed at the current market price as quickly as possible when a user places the order.

When a market order is placed, the order is filled with the best available price on the order book immediately. The average filled price of the order may not be exactly the current market price. Depending on the order's direction, the average filled price may be slightly below or above the current price.

Limit Order

A limit order is an order placed on the order book with a specific limit price. It will only be executed if the market price reaches the limit price or better. Limit orders can be used to buy an asset at a lower price or sell at a higher price than the current market price.

When a buy limit order is placed, the order will not be executed until the price drops to the limit price or below. The buying price of a limit order must be lower than the current price. When a sell limit order is placed, the order will not be executed until the price reaches the limit price or above. The selling price of a limit order must be higher than the current price.

How to place a market or limit order?

Ready to start trading on CoinUnited.io? Read our steps-by-steps guide on how to place a market or limit order: HERE


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