How to Place a Spot Market Order
Place a GroveX Spot market order, review the selected pair and amount, and understand slippage and execution across the order book.
What a market order does
A market order buys or sells immediately against the best available liquidity in the order book.
It prioritizes execution over an exact price.
Before placing the order
Make sure the required asset is available in your GroveX wallet and confirm that you selected the correct trading pair.
For a BTC/USDT market:
- buying BTC uses USDT to acquire BTC;
- selling BTC sells BTC for USDT.
Place a market order
- Open Trade > Spot.
- Search for and select the required trading pair.
- Confirm the base and quote assets before entering an order.
- Select Market as the order type.
- Choose Buy or Sell.
- Enter the amount or total requested by the order panel.
- Review the estimated order information.
- Submit and confirm the order.
- Open Orders or Trade History to review the execution.
Understand the execution price
A market order can match several price levels.
The final average execution price can therefore differ from:
- the last traded price;
- the best bid or ask visible just before submission;
- the price displayed a moment earlier.
This difference is commonly called slippage.
Liquidity and order size
Slippage tends to increase when:
- the order is large compared with available order-book depth;
- the market has low liquidity;
- the spread is wide;
- market prices are moving quickly.
Consider reviewing the order book before placing a large market order.
Partial or multi-price fills
A market order can execute in multiple trades at different prices as it consumes available liquidity.
Review Trade History for the actual filled quantities and prices.
If the order does not behave as expected
Check:
- that Market was selected rather than Limit;
- available balance;
- the selected trading pair;
- market status;
- Order History and Trade History.
If a market is temporarily unavailable or under maintenance, wait for the market to return to normal before retrying.
Learn the difference between order types
Read: Spot Trading: Market vs Limit Orders
For account-specific assistance, submit a support request: https://grovexcom-help.freshdesk.com/support/tickets/new