Market Order is an order to buy or sell a token immediately. This type of order is filled instantly by using available orders on the order book. However, market orders are only filled through a percentage range of the current spot price.
For Example: The price range of BTC/USDT is 10%, which means the price limit is Ask * 110% for buy orders, and Bid * 90% for sell orders.
[ How to use it? ]
To create a market order you will need to click on the order tab and then different order types will appear, you can choose the Market Order.
After selecting the order as a Market Order, you can set the quantity that you want to buy/sell, the total amount of the order will be displayed below.
Since market orders are executed right away, your market order will match the best price available on the order book for both buys and sells.
It’s important to know that if you want to buy/sell large amounts, your order will automatically match the following orders in the order book until it’s filled.
[ When should you use it? ]
Market orders are handy when getting your order filled is more important than getting a certain price.
When you are trading with a highly liquid token, using a market order may be more practical, WOO X is specialized in deep liquidity.