Market order

A market, or "at best" order is an order to buy or sell a quantity of securities at the best price currently available in the market.

Not specifying a maximum or minimum price may seem risky, but most trading systems have safeguards to protect investors against unreasonable or unexpected prices.

• Investors can find out what the current market price is before placing an order.
• Some trading systems will only trade market orders within certain limits relative to either existing limit orders or the last traded price.
• Some trading systems allow the investor placing a market order a few seconds in which to confirm that the price is acceptable.

Market orders are the order type most often used by private investors in the UK. They almost always have a chance to confirm the price before the order executes. Depending on the security and circumstances these orders may match against another order, or a market maker's quote.