The market order refers to the order that is completed at the current market price. There is no need to set the price by yourself, so the order can be quickly completed.
Market orders can increase the possibility of transaction and speed of execution.
In order to better protect your interests, we provide you with two trading strategies. The first one is Market with Protection , the other is Market.
Market with Protection:
In order to avoid extreme losses caused by buying at a very high price or selling at a very low price, we will introduce a certain percentage of market protection point for the market order, and the part of Market orders that move the price in excess of 10% will be canceled.
For example, the market protection point of BTC/USD is 30%, the current bid one is 8600USD, and the ask one is 8800USD.
If you choose the Market with Protection options and placed a buying order. Your order will only be filled at less than $11,440 [8800*(1+0.3)*100%], and the remaining unfilled portion will be canceled.
If you choose the Market with Protection options and placed a selling order. your order will only be filled at a price higher than $6020 [8600*(1-0.3)*100%], and the remaining unfilled portion will be canceled.
Note: Different trading pairs will have different protection points according to the market conditions. For specific protection points, you can enter the specific trading pair page and view it in the Market with Protection options under the market order.
Market order without Protection point. Your order will remain valid until you canceled by yourself or the order has been fully filled.
Your order will be filled quickly based on the latest market price, but there is no guarantee of the transaction price, especially when the market is changing rapidly, or for the trading pairs that are not active, the market order are often filled at a higher or lower price.
Note: Market orders are unlikely to be canceled because they are filled immediately.