A market order is an order type used to buy into a new position or sell out of an existing position at the best available price in the market. Market orders are designed to execute quickly and are typically filled immediately, depending on available liquidity.
How Market Orders Execute
When you place a market order:
• Your order will attempt to fill at the best available price
• In markets with sufficient liquidity, execution is often equal to or better than the displayed price
To protect users from unexpected price movement in low-liquidity conditions, Sporttrade applies an execution safeguard.
Market Order Price Protection
If the quantity you are trying to trade exceeds the number of shares available at the best price:
• Your order may fill across multiple price levels
• Execution will continue only up to a $2.00 share price difference from the initial price
• Any remaining quantity beyond that $2.00 threshold will be automatically canceled
This protection helps limit exposure to sharp price changes caused by limited market liquidity.
Market Orders vs. Limit Orders
• Market orders prioritize speed and immediate execution but do not guarantee a specific price
• Limit orders allow you to set the price you are willing to buy or sell at, but do not guarantee the order will fill
If price certainty is more important than speed, a limit order may be the better option.
Placing a Market Order
You can place a market order when buying or selling shares.
To place a market order:
• Open the order window for the outcome you want to trade
• Select Market Buy or Market Sell
• Choose whether to trade in shares or dollars
• Review the order details and submit the order
Once submitted, you will receive a confirmation showing the execution details.
*Note: Exchange wagering is currently unavailable in Iowa.
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