Market order

A Market order is the simplest type of all orders, which executes immediately at the best available price on the order book.

Order book (www.alteumx.com)

"Order book" is a list of all open orders placed by other traders (market makers). They are called market makers because they place an order with a specific price, which is different from the current market price, at which they are willing to buy or sell an asset and wait for someone to match(fill) their orders.

When you place a market order, you become a market taker, as your order will match an already existing order placed in the order book. Therefore, you will be paying fees as a market maker.

When placing a market order, you only need to specify the amount of the asset you would like to buy or sell but you cannot specify a price. Since market orders are executed right away, your market order will match the best order available in the order book. If the available order is not sufficient to fill your entire market order, your order will automatically match the following orders until it is finally completed or until your order "has been filled"

NOTE: When a market transaction has taken place and the order has been completed, traders refer to this as “the order has been filled”.

A market order is mostly used when the trader wants to quickly enter or exit a particular market, regardless of price and fees. Also, Market orders might be the easiest type to understand for new investors as it provides the best experience for people who are learning to trade for the first time.

However, market orders don’t guarantee price or allow for any precision in order entry, which can lead to costly slippage. Slippage can cause traders to pay more for an asset than they intended. This means that you should only use market orders if you are willing to pay higher prices and fees.

 Always ensure the market pair you are trading on has sufficient liquidity.

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HOW TO PLACE A MARKET ORDER ON ALTEUMX

1. Open  www.alteumx.com and Log in.

2. Click on "Exchange"

3. Choose the trading pair of the asset you wish to buy or sell 

4.  Select the option for either "BUY" or "SELL" and then select "Market Order"

5. Enter the amount of the asset you wish to buy or sell. Click on "buy" or "sell" button

6. At the bottom of the page, you can track your order history: amount, average price, total, and status of your order.

NOTE: Before making the decision to buy, sell, or hold any digital asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision.

AlteumX does not provide any investment advice or advice on trading techniques, models, algorithms, or any other schemes. No communication or information provided to you by Alteumx is intended as or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice

- Alteumx Team