What is a market order?
The Best Choice for Beginner Traders
This trading order type is the best option for a beginner and is considered the most basic order type. It is also the easiest to understand and implement.
A market order is an instruction to immediately buy or sell a cryptocurrency at the best price in the crypto market. It ensures that the order is executed for the trader at the set price or near the current price. This order is perfect for investors who don't want to keep price-watching or those with little patience.
A market order is often considered a taker order. This is because it removes liquidity from your order book by instantly matching the top limit order available. One of the elements that set market orders apart from stop orders is their instant execution which means that you can't cancel them.
Pros
- Their fulfillment is guaranteed.
- Perfect for beginners.
- Removes liquidity from your order book.
- Their execution is instant.
Cons
- They are susceptible to slippage.
How do I place a market order on Ndax?
Desktop
- Login tohttps://ndax.io/
- Once you log in you will be redirected to your dashboard
- Click TRADE on the left-hand side of the screen
- On the trade page, click BUY (Green button) or SELL (Red Button) on the right side of the screen
- Click the small GREY ARROW in the upper left corner of the screen to pick the CRYPTOCURRENCY/CAD
- Click on MARKET
- Enter ORDER SIZE (how much you want to purchase or sell)
- Click PLACE BUY OR SELL ORDER
Mobile Website
- Login to Ndax
- Click the Ndax SYMBOL on the top left-hand corner
- Click TRADE from the dropdown menu
- On the trade page, click BUY (Green button) or SELL (Red Button) at the bottom of the screen
- Click the small GREY ARROW on the upper left corner and select the BTC/CAD pair
- Select MARKET
- Enter ORDER SIZE (how much you want to purchase or sell)
- Click PLACE BUY OR SELL ORDER
To learn more about Market orders, check out our blog:
Advanced Trading: Bitcoin Market Orders