Market order
Finance
An order to buy or sell a security immediately at the best possible price.
Personal Finance
When you tell your broker to buy or sell a security at the market, or current market price, you are giving a market order. The broker initiates the trade immediately.
The amount you pay or receive is determined by the number of shares and the current bid or ask price. Market orders, which account for the majority of trades, differ from limit orders to buy or sell, in which a price is specified.