Market Order – An instruction to buy or sell a currency pair immediately at the best available current price. A market order guarantees execution but not a specific price (you take the market’s bid or ask). For instance, clicking “buy” at market will fill your order at the current ask price. Babypips defines it succinctly: “A market order is an order to buy or sell at the best available price”. Traders use market orders to enter or exit positions instantly.

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