A market order is the most common type of order on the Forex market. A market order is a purchase order at the current market price. Hence, if you've ever purchased something online, the "Buy Now" button works the same way as a market order in the Forex market.

Therefore, it is possible to say that a market order is executed in real time. Your order will be booked at the best available price after searching the market. Since the Forex market's values change so quickly, it is possible that your market order will be executed at a slightly different price than you intended. This is known as slippage in the market. Occasionally, slippage can work to an investor's advantage, but it can also work against them.

In an instant, a market order becomes an open position. Therefore, gains and losses on this order must be realized when the position is closed.

A market order is a trading instruction to buy or sell a financial instrument immediately at the best available price. It is the simplest and most commonly used type of order in financial markets, including forex, stocks, and commodities. Market orders prioritize execution speed over price precision, making them ideal for traders who want to enter or exit a position quickly.

When placing a market order, the trader accepts the current market price, which may differ slightly from the last quoted price due to market fluctuations. This is known as slippage. Market orders are especially useful in highly liquid markets where the bid-ask spread is narrow, ensuring prompt execution with minimal price impact. However, they are less suitable during periods of high volatility.