A Market order is an order to buy or sell at the market bid or offer price. A market order may increase the likelihood of a fill and the speed of execution, but unlike a Limit order, a Market order provides no price protection and may fill at a price far lower/higher than the current displayed bid/ask.
To place a Market order from the Mosaic Order Entry panel:
- Enter or select a symbol and then click Buy or Sell
- Set the order size and select MKT as the order type
- Complete the order parameters
- Hit SUBMIT.
Find out more on the Market Orders page of the IBKR website.