Market vs limit orders
Pay for speed, or wait for your price.
Pay for speed, or wait for your price. A market order fills now at the best price on the book. A limit order waits for the price you name. That is the whole difference.
Market: now, at any price. It takes what the book offers. Fast and certain to fill. In a thin book the fill can be worse than the screen said.
Limit: your price or nothing. Buy BTC at $77,000 and it fills there or lower, never higher. If the price never comes, you never trade. That is a feature.
Taker 0.045%. Maker 0.015%. Market orders take liquidity and pay the taker fee. A limit order that rests on the book pays the maker fee, a third of it.
Market to leave, limit to enter. Exits are urgent, entries are not. If your plan needs a price, name it and wait for it.
Quick check.
Fee check.
Name your price. You want to long BTC, but it just spiked 1% in two minutes. Buy means market in now, skip means place a limit a little lower and wait, sell means drop the idea.
Market vs limit orders · 3 min
Pay for speed, or wait for your price.
A market order fills now at the best price on the book. A limit order waits for the price you name. That is the whole difference.
Go deeper
A market order crosses the spread and takes whatever is resting on the book, so in a thin or fast market the fill can be noticeably worse than the price on screen. A limit order rests on the book at your price and pays the lower maker fee (0.015% instead of 0.045%) if it fills, but it may never fill. MemeSim supports both, and you can attach a take profit and stop loss to either.