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A market order is an instruction to buy or sell immediately at the best available price. It executes at the next available price, which may differ from the quote you saw (slippage). In fast or thin markets an order may also be filled in part, at several prices, or rejected. Market orders are the simplest and fastest way to enter or exit a trade.
EUR/USD is quoted at 1.1050/1.1052. You click 'Buy' to place a market order. Your order is filled within milliseconds at the ask price of 1.1052 (or very close to it, depending on market speed).
