A market order is a type of order used in trading to buy or sell a security immediately at the current market price. This order is executed as quickly as possible, ensuring that the trader can enter or exit a position without delay. Market orders are commonly used by investors who prioritize speed over price. When placing a market order, the trader does not specify a price; instead, they accept the best available price at that moment. This can be beneficial in fast-moving markets, but it may also lead to unexpected prices, especially if the market is volatile.