Learn how to use Market Order, Limit Order, and Stop Order in your transaction.

Buy Market Order

Immediately match your order to the best available market price. 

If the current market price is $2,200, and you place a market order, your order will be filled immediately at the best available price for the order amount. 

For buy orders, this could mean that the average filled price might be a bit higher than the current price. 

For sell orders, this could mean that the average filled price might be a bit lower than the current price.

Buy Limit Order

Buy at a specific price or better. There is a chance that the limit order does not execute.

If a user were to place a buy limit order, two instances could occur: 

1. The limit price is above the current market price. Placing this limit order would result in the order immediately executing at market price, similar to a Market order.
2. The limit price is below the current market price. This limit order when placed will not execute until the price drops to the limit price.

Buy Stop Limit Order

A stop limit order has both a stop price and a limit price. The stop price is a trigger for the limit order to be placed. Until the stop price is reached, the limit order is not activated. 

For a buy stop limit order, the stop price must be placed above the current market price, however the limit price can be set either above or below the stop price:

• If the limit order is below the stop price, the limit order will be activated, but will only execute when the price drops to the limit price.
• If the limit order is above the stop price, the limit order will execute immediately, and is filled at a price equal to or better than the limit price.

Sell Market Order

Immediately match your order to the best available market price. 

If the current price is $2,200, and you place a market order, your order will be filled immediately at the best available price for the order amount. 

Note: 

For buy orders, this could mean that the average filled price might be a bit higher than the current price. 

For sell orders, this could mean that the average filled price might be a bit lower than the current price.

Sell Limit Order

Sell at a specific price or better. There is a chance that the limit order does not execute.

If a user were to place a sell limit order, two instances could occur:

1. The limit price is below the current market price. Placing this limit order would result in the order immediately executing at market price, similar to a Market order.
2. The limit price is above the current market price. This limit order when placed will not execute until the price rises to the limit price.

Sell Stop Limit Order

A stop limit order has both a stop price and a limit price. The stop price is a trigger for the limit order to be placed. Until the stop price is reached, the limit order is not activated. 

For a sell stop limit order, the stop price must be placed below the current market price, however the limit price can be set either above or below the stop price:

• If the limit order is above the stop price, the limit order will be activated, but will only execute when the price rises to the limit price.
• If the limit order is below the stop price, the limit order will execute immediately, and is filled at a price equal to or better than the limit price.