What is A Market Order and How to Place It?

Content of this article:

• What is A Market Order?
• How to Place Market Buy Orders?
• How to Place Market Sell Orders?

** Users can place limit order by using a web browser or XT.COM mobile application. For demonstration, we only show the web browser tutorial here.

What is A Market Order?

A market order is an instruction to immediately buy or sell an asset at the best price currently available in the market. A market order requires liquidity to execute, which means it is executed based on the previous limit order in the order center (order book).

If the total market price of a single transaction is too large, some parts of the transaction that have not been traded will be cancelled. Meanwhile, market orders will settle orders on the market regardless of cost, so you need to bear some risks. Please place orders carefully and be aware of risks.

How to Place Market Buy Orders?

1. Step 1: Log in to your account at XT.COM.
   
   
2. Step 2: Click the [Trade] - [Spot Trading] button at the top of the page and select a trading pair. Then click the [Spot] - [Buy] - [Market Price] button.
   
   
   
   
3. Step 3: Enter the [Total], which refers to the amount of USDT you use to buy XT. Or, you can drag the adjustment bar below [Total] to customize the percentage of your spot balance that you want to use for the order.
   
   
4. Step 4: Confirm the [Total] and click [Buy XT] to place the market buy order.
   
   
   
   
5. Step 5: The system will execute your order at the current market price based on the amount of USDT you submitted, but it is not sure how much XT you can buy. The final XT trading quantity is determined by the market price and quantity at the time of order placement. When the limit order is completed, you will be able to check the order details in [Transaction History].
   
   

How to Place Market Sell Orders?

1. Step 1: Log in to your account at XT.COM.
   
   
2. Step 2: Click the [Trade] - [Spot Trading] button at the top of the page and select a trading pair. Then click the [Spot] - [Sell] - [Market Price] button.
   
   
   
   
3. Step 3: Enter the quantity of XT you want to sell at [Quantity]. Or, you can drag the adjustment bar below [Quantity] to customize the percentage of your spot balance that you want to use for the order.
   
   
4. Step 4: Confirm the quantity, then click [Sell XT] to place a market sell order.
   
   
   
   
5. Step 5: The amount of USDT that can be obtained by selling XT will be determined by the current market price. You will be able to view the amount of USDT obtained from the order and the average selling price in [Transaction History].