Market order
A market order asks for execution at the best available prices. It prioritises execution, not a guaranteed price. The final average can differ from the last traded price.
Limit order
A buy limit sets the highest price you accept. A sell limit sets the lowest price you accept. The price boundary is protected, but the order may wait, fill partly, or never fill.
Before sending
Review the side, symbol, quantity, account mode, available cash or shares, order type, limit price when used, and every live cost shown on confirmation.
The short version.
- Last price is not a promise
- A limit protects price, not execution
- Practice confirmations have no fee rows