You want to buy a stock at no more than $50. Which order type?

A limit order at $50 only fills at $50 or lower — guaranteeing you don't overpay. A market order fills immediately at whatever the current price is, which could exceed $50.

Core difference between market and limit orders?

Market order: guarantees execution, not price. Limit order: guarantees price, not execution.

Slippage is the difference between the expected price and actual execution price. Common with market orders in volatile or illiquid markets.

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BeginnerTrading Basics

Market Order vs Limit Order

Market orders execute immediately at current prices; limit orders only fill at your specified price. Choosing wrong can cost you.

By Jim Liu · Published February 2026

TL;DR

Market orders execute immediately at current prices; limit orders only fill at your specified price. Choosing wrong can cost you.

Market Order: Immediate Fill

A market order instructs your broker to buy or sell immediately at the best available current price. Pro: near-guaranteed fill for liquid stocks. Con: uncertain execution price — can be much worse than expected in volatile markets.

Key Terms:

market orderslippage

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Market Order vs Limit Order

Market Order: Immediate Fill

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