A market order is also sometimes referred to as an "unrestricted order."
A market order guarantees execution, and it often has low commissions due to the minimal work brokers need to do. Be wary of using market orders on stocks with a low average daily volume: in such market conditions the ask price can be a lot higher than the current market price (resulting in a large spread). In other words, you may end up paying a whole lot more than you originally anticipated! It is much safer to use a market order on high-volume stocks.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
market order — n. an order to buy or sell goods, stock, etc. at the current market price … English World dictionary
market order — An order to buy or sell a futures contract of a given delivery month to be filled at the best possible price and as soon as possible. Chicago Board of Trade glossary An order to buy or sell futures or futures options contracts as soon as possible … Financial and business terms
Market order — This is an order to immediately buy or sell a security at the current trading price. The New York Times Financial Glossary * * * market order market order ➔ order1 * * * An order that should be executed immediately whatever the current price.… … Financial and business terms
market order — noun an order to a broker to sell or buy stocks or commodities at the prevailing market price • Hypernyms: ↑order, ↑purchase order * * * noun : an order to buy or sell at the best price obtainable in the market when the order is executed * * *… … Useful english dictionary
market order — noun Date: 1909 an order to buy or sell securities or commodities immediately at the best price obtainable in the market … New Collegiate Dictionary
market Order (MO) — An order submitted at any time within a trading session, executable immediately at the current market price. Chicago Mercantile Exchange Glossary … Financial and business terms
market order — /makət ˈɔdə/ (say mahkuht awduh) noun an order to purchase or sell at the current market price … Australian English dictionary
market order — Stock Exchange. an order to buy or sell a specified amount of a security at the best price available. Cf. limit order, stop order. [1915 20] * * * … Universalium
market order — /ˌmɑ:kɪt ɔ:də/ noun an order to a broker to buy or sell at the current price … Dictionary of banking and finance
market order — Fin an order to trade a security at the best price the broker can obtain … The ultimate business dictionary