A market order is an order to buy or sell immediately at the current available price. Subject to normal market conditions.
Market orders are executed on an IOC (Immediate or Cancel) basis, and do not ‘rest’ on the order book if they are not executed. This is the type of trade submitted on the first Trade tab of the order ticket.
Find the product you want to trade and select it to activate the Order Ticket.
The Order Ticket by default opens on the Trade tab, shown as Market Order on the app.
Clicking the Buy or Sell price will load the Order Ticket with the relevant direction of that trade pre-loaded.
To place a market order:
Market Order mandatory fields: Buy or Sell direction, Trade Size
Depth of Book allows you to view market activity information in real time and see how those bids and asks can affect the price.
The Trade / Order tab of the Order Ticket contains an Advanced drop-down, with customisation options for more advanced traders.
More information on these options can be found in the Advanced Order Entry Options section.
After you have entered the trade parameters, click on ‘Place Buy/Sell Order’ depending on the side selected to submit the order.
If the market order is successfully filled, you will see a confirmation showing an overview of the trade details on the next Trade Complete screen.
Depending on market conditions in certain situations the filled price might not be the last price shown when you clicked to trade.
Trade Review and Confirmation screens.