Market orders are designed for immediate execution:
Your order is filled at the best available price when the market is open
During market hours, execution is typically within seconds
Outside market hours, orders are queued for the next market open
There's no price guarantee—the execution price may differ from the last quoted price due to market movements
Market orders are ideal when:
Speed of execution is your priority
You're trading highly liquid stocks
You don't have a specific price target
Remember that for volatile or thinly traded stocks, the execution price might vary more significantly from the last quoted price.