Pricing & Fees
Market vs. Limit Orders: Execution and Price
Compare an order that prioritizes execution with one that sets a price boundary, including the possibility of a different price or no fill.
Market orders
A market order asks to execute against the best available prices under a venue’s rules. Execution may be more likely, but the final price is not guaranteed and can differ from the last displayed price, especially when quotes change or liquidity is low.
Limit orders
A limit order sets a maximum buy price or minimum sell price. It constrains the acceptable price but does not guarantee a fill; a counterparty may not be available at that price, or only part of the order may execute. How long the order remains open and how it is prioritized depend on the venue.
These are general definitions of order tools. Terms and functionality can differ between securities venues and digital-asset platforms, so read the platform’s own explanation.
A simple example
Hypothetically, someone wants to buy an asset for no more than a chosen price. A limit order waits for that price or better; a market order requests execution against offers available when it arrives. Neither guarantees every outcome the user may expect.
Key takeaway
A market order does not guarantee price, and a limit order does not guarantee execution. Understand the venue’s rules, order size, and terms before submitting; this is an explanation of terms, not trading advice.
Related reading
Official sources
This article is for informational purposes only and is not a price quote.