Market orders are when you specify only the amount you wish to trade. The order executes immediately at the best available prices in the market. In other words, the market order matches with existing orders waiting in the order book.


Note:

A market order is always a taker order. If you place a buy order at the same price, or at a price above any pending sell orders, and it is filled immediately, your buy order is considered a taker order.


Here’s how to use market orders

  1. Log in to the Luno Exchange

  2. On the web, go to the place order ticket section to the right, and on mobile, select PLACE ORDER at the bottom

  3. On the Place Order ticket, select Market

  4. Select either Buy or Sell, enter the Best available price and an amount

  5. Select (Buy/Sell) to place your order

  6. Confirm your order by selecting PLACE ORDER on the pop-up


Tip:

Curious about our other order types? Great! Find out more about limit orders and stop-limit orders.