What is a market order?
A market order is an immediate order to buy or sell an asset at the best current price available. The trade will be completed nearly instantly, close to the initial price. There may be a price difference if there is a lack of liquidity, which can be the case with smaller tokens. Marker orders are instant, which means they do not go through an order book.
When should you use a market order?
A market order can be a reasonable choice if you have an immediate need to open or close a trade. For example, if a user receives positive news about a token and assumes it is going up, it would be logical to hurry and open the trade at the current market price. It is also considered the easiest way to open a trade, as a user only has to specify the amount he wants to allocate.
1. To open a market order, the first step is to open the Huobi Global trading interface. You can do it by clicking [Spot Trading], then [Exchange].
2. Next, type ‘BTC’ in the search bar and click BTC / USDT. Alternatively, you can also choose BTC / HUSD, depending on your preference.
3. Once you have chosen the trading pair, you can confirm it in the section above the market chart.
4. You will see the order placement panel under the market chart. To open the Bitcoin market order, you must click [Market].
As the market order selects ‘the best market price’, you only have to specify the amount of USDT you want to trade. You can either type the amount in the ‘Total’ tab or slide the green tab to select the percentage you want to allocate from your available holdings.
5. After specifying the amount of USDT you want to allocate (e.g., 1,000 USDT), click [Buy BTC] to open the trade.
6. Similarly, you can sell your BTC using the right side of the order placement panel. Just specify the amount of BTC you want to sell and click [Sell BTC] to open the trade.
7. Note that you can’t open a trade if the balance in your account is insufficient. You can deposit tokens to your account by clicking [Deposit] or transfer money by clicking [Credit Card].