Glossary
Market Order
An instruction to buy or sell immediately at the best available price.
Market orders prioritise execution certainty over price certainty. They fill quickly during market hours but the realised price can drift from the displayed quote when liquidity is thin.
Use cases: closing a position fast, very-small-cap stocks where the spread is wide and partial fills are likely. Avoid for thinly traded names or outside regular hours — the slippage can be punishing.