A Market order is an order to buy or sell a security or commodity at the bid or offer price currently available in the marketplace. Unlike Limit orders, Market orders are not guaranteed a specific execution price, and we do not accept Smart Routing Market orders when the primary exchange at which an equity trades is closed. Some market centers accept native Market orders. IB will simulate a Market Order for some of those market centers that do not. See the Exchanges page for a listing of which Market Centers accept native Market Orders, and for which Market Centers IB will simulate a Market Order.

Symbol XYZ shows a bid price of $15.00. You want to sell 100 shares of XYZ at the current best market price. You click the Bid price to create a SELL order, and select MKT in the Type field to specify a market order. To ensure you get the best price, select SMART as the order destination. The word MARKET appears in the Lmt Price field to illustrate that you are willing to sell at the current market price. You submit the order, which is filled at the prevailing market price.