Market orders

A market order is a type order that can be used when buying into a new position, or selling out of an existing one, that will execute nearly instantaneously at the best available price.

In a market with low volatility, a market order will be executed and filled at a price equal to or better than the price offered.

Please note, in a scenario where your desired order quantity exceeds the market availability of shares at the target price, we will fill the order with shares from the next best price up until a $2.00 share price differential from the target price. Any remaining order quantity above a $2.00 threshold that goes unfilled will be canceled automatically to protect you from market illiquidity.

A limit order is the alternative to the market order and can be used to better control the prices as which your trades execute, but does not guarantee a filled order.

How to place a market order

You can place a market order when buying into a new position, or selling out of an existing one.

To place a market order:

1. On the Order Window screen, select Market Buy or Market Sell depending on the type of trade
2. Select either a number of shares or a number of dollars to trade with
3. Place the order

*Exchange wagering is not yet available in Iowa and Virginia.