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How to place a Market Order at Spot Trading
How to place a Market Order at Spot Trading
Rick Alexsson avatar
Written by Rick Alexsson
Updated over a week ago

A market order is a request by a trader to execute a transaction as quickly as possible against the best market price. Market order guarantees that the order will be executed with the price, not worse than market price and slippage, but does not guarantee the full order execution. That’s why this type of order is used when the speed is more important than the price of execution.

How to place a Market Order

1. Open the Trade page

The Trade page is divided into five main sections: New Order, Order Book, Trade History, Chart, and Order Details.

Want to know more information about Trade page opportunities? Please follow the link to the Trade page overview.

2. Choose a pair for trading

Trading pair selector - allows you to choose the pair for trading by either scrolling or using the search bar.

By default, either BTC-USD or the last selected pair is automatically selected.

3. Choose a Wallet or sub-account for trade:

Account selector - allows you to choose on behalf of which account you want to create a new order.

By default, the Wallet account is selected in the accounts list.

For your ease of use, Buying Power Overview - shows the available trading balance, for the selected account, for the selected trading pair.

4. Choose to Buy or Sell

A market order allows you to buy or sell crypto at the current market rate. Such orders are filled instantly.

5. Choose the order type

The market order is chosen by default. Nevertheless, if another type of order was preselected for any reason, you can also switch to the Market order type at any time.

6. Choose the amount of currency

Please pay attention, that min and max order amounts are different for each trading pair. More information concerning limitations to each trading pair can be found in the Trading Conditions section on the Settings page.

Moreover, the Client can press the "Amount" button to change it to "Total", which allows the Client to place an order in a second currency (e.g. buy for 100 USDT)

7. Set the Max Slippage

Customers of Spot Trading can manually set acceptable price slippage. To do so, they just need to use the Max slippage setting.

The Max slippage setting can better protect trading orders from unwanted deviation of execution price, in cases of unstable or sharp market fluctuations.

After all necessary settings are set, you will see additional information before placing an order:

  • Total - indicates the amount to be executed as a result of filling the order under the market price.

  • Fee - indicates approx. amount of fee to be paid after filling the order under the market price.

Important: in case of placing the order using a second currency, instead of the "Total" field "Amount" will be displayed, which shows how much could be bought.

8. Click place BUY/SELL order

Once all the parameters are set up, you can create a new order by clicking on the Place Buy Order (Place Sell Order).

9. Check order details and confirm order placement

After clicking on the Place order button you’ll see a pop-up window with a brief overview of the order. After checking the order details you should click on Confirm button to eventually place such a new order.

Also, there is a countdown at the bottom of the pop-up window showing the time during which you need to confirm the order.

After the time expires, the Confirm button will be replaced by a Refresh button, so you should update to the current best price.

10. Successful pop-up window

In case a new order has been placed, in the right top corner you’ll see a bubble pop-up informing you about the current order status.

Please keep in mind, that the current order status and other order details can be found in the Orders details section until the Trade page is reloaded or you switch to another page.

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