What is Market Order?
A market order is an order to buy or sell an asset immediately at the market’s current price. The order will be systematically executed at the current market price after you set the order.
Buy Example:
If the current market price on BTC is 20,000$, your order will be filled with the best available price on the order book immediately. the system will match your order with the best available sell orders on the market. Due to your order’s direction, the average filled price of your order may not be exactly at 20,000$. In buy situation the average filled price may be slightly above the current price.
Sell Example:
If the current market price on BTC is 20,000$, your order will be filled with the best available price on the order book immediately. the system will match your order with the best available buy orders on the market. Due to your order’s direction, the average filled price of your order may not be exactly at 20,000$. In sell situation the average filled price may be slightly below the current price.
How to place a Market Order at Coinlocally?
- [Login] to your account and go to [Futures Trading] page.
- Choose your asset like BTCUSDT pair.
- Choose [Market] order type.
- Enter your [Size].
Note:
You can enter your amount and see your assets value at BTC units. To switch your unit to USDT you can click on the [BTC] button for observing your assets value in USDT. Also, you can drag the Slider to calculating your Size by system automatically.
- Now, you can click [Buy/Long] to open a long position or click on [Sell/Short] to open a short position immediately.
- Your market Order will be placed in order book and filled with the best available price on the market immediately. You can see your positions in [Positions] tab and check the orders amount and the average prices from [Order History] and [ Trade History] at the end of Futures trading page when your positions hit your targets.
Note: When you click to place your market order for buying or selling an asset, at the same time the asset’s price drop or rise. In this situation your amount will not be filled at specific quantity. It can be a little difference between your specific quantity and purchased amount. You can place a market order for buy or sell again to reach the specific quantity that you want.