A Market order is an order type that executes immediately against the best price available. As long as there are willing sellers and buyers, market orders are filled.
How to place a Market order on Bitfinex
1. Firstly, log in to your Bitfinex account.
2. Then, you will be redirected to the Trading page of the Bitfinex platform.
3. Here, you can select the relevant trading pair from the ticker.
4. Following, you will navigate to the order form and select Market from the drop-down box.
5. Then, depending on the sort of order you want to execute, you can choose between Exchange or Margin from the same order form.
Note: The default will be Exchange.
6. You can then fill out the amount and proceed to either sell or buy.
Note: A market sell will match the best available bids on the order book, and a market buy will match against the best available asks on the order book.
How to use a Market order
Market orders are often used when rapid execution is prioritised over the price at which the order executes. When placing this order, the user wishes that the trade takes place as soon as possible at the best price available.
If you have any questions, please feel free to reach out to Bitfinex Support. We are happy to help!