A market order is an order to buy or sell a stock at the current market price. A broker enters an order as a market order when requested to do so by his or her client. When a market order is placed, it is almost guaranteed that the order will be executed. Ultimately, however, this depends on whether or not there is a willing buyer or seller.

A market order does not specify a price, it is executed at the best possible price available. A market order can keep the customer from "chasing" a market.

Please note and remember that the price at which your order is finally executed could well be different from the quoted price you got for yourself before you placed your order. Again, the reason is that the market is dynamic. Prices are changing continuously in the market as the minutes and seconds go by. Orders are executed in accordance with prescribed priority rules, delays in execution can occur due to market demand of a security, and in the meantime market price can change as a result of investor demand and other factors. Market orders guarantee an execution (subject to the availability or the liquidity of the security) but they do not guarantee an execution at a specific price. Large orders can take longer to fill and can move the market for the stock, sometimes to your disadvantage.