uTrade AlgosA market order is a type of order to buy or sell a security immediately at the available price in the market. It guarantees execution but does not guarantee the price at which the trade will be executed.
How It Works?
Order Placement: When you place a market order for a security with Share India, Share India’s trading platform forwards the market order to the exchange you select for trading. The order is then entered into the exchange’s order book.
Order Matching: The exchange’s matching engine scans the order book for resting orders on the opposite side:
- For a buy market order, the engine looks for the lowest available ask prices (sellers’ limit orders).
- For a sell market order, it targets the highest available bid prices (buyers’ limit orders).
Immediate Execution: Market orders are filled instantly if there are matching orders in the order book.
Price Slippage: Since the order executes at the available price, it may be filled at a price different from the Last Traded Price (LTP), especially in volatile or illiquid markets.
Liquidity Dependency: In highly liquid markets, market orders generally execute close to the LTP. However, in illiquid markets, they may be executed at significantly unfavorable prices due to a lack of counterparties.
Market orders are useful when execution speed is more critical than price precision, such as in highly liquid stocks or urgent trades.
How to Place a Market Order with Share India?
Via Web Portal:
Step 1: Search for the stock you wish to trade.
Step 2: Select ‘Buy’ or ‘Sell’ based on your trading preference.
Step 3: Choose ‘Market’ to place a market order for the stock.
Step 4: Fill in the quantity and other required details.
Step 5: Check margin & charges and ensure you have enough balance in your account.
Step 6: Verify details and place your market order by clicking on ‘Buy’ button.
Via Mobile App:
Step 1: Open the Share India app and search for the stock you want to trade.
Step 2: Tap on ‘Buy’ or ‘Sell’ button for the stock you want to trade.
Step 3: Select the exchange you want to trade on and tap ‘Market’ among the available order types.
Step 4: Fill in the rest of the remaining information and swipe to place the order.
In case you face any issues or need any support while using the platform, you can contact the Share India support team via email at support@shareindia.com or by phone at 1800 203 0303.