A market order is an order to buy or sell at the market price, i.e. without a specified price.
You can place market orders during the continuous trading session (9:30 AM - 12:00 PM & 1:00 PM - 4:00 PM)
Note: You cannot place a pre-set market order for Hong Kong stocks, and market orders can only be submitted during the continuous trading session.
2.1 After you confirm the submission of a market order, Moomoo Securities Australia Ltd will submit it to the Hong Kong Stock Exchange at the five best bid or ask prices according to the buy or sell instruction.
2.2 A market order may be divided into several small orders for execution, and each small order may be filled at a different price.
2.3 If the number of orders in the order book is small, a market order may not be fully filled. The unfilled part will be automatically cancelled and, after being cancelled, will be in "Cancelled" status.
2.4 If the liquidity of a stock is poor or there is no order in the order book for the time being, a market order may not be filled and will be automatically cancelled. After being cancelled, it will be in "Cancelled" status.
2.5 For a market order, we do not guarantee a better execution price. In particular, a market order may be filled at a higher or lower price when the market changes rapidly.
2.6 During the trading hours when the Morning Session or the Afternoon Session has just opened, there may be a greater chance that transaction prices will deviate since orders that have accumulated before the market opens need to be processed.
2.7 For the sake of risk control, the price of a pending market order is calculated as the current price * market order multiplier, and the market order multiplier is subject to adjustment by Moomoo AU from time to time according to market conditions. Your buying power will be reduced accordingly. After the order is filled or cancelled, the frozen part of your buying power will be released.
Disclaimer
Market Order is an advanced order type provided by Moomoo AU for the clients' convenience. While Moomoo AU endeavors to provide reliable trading services, there can be no guarantee to the absolute reliability of the order algorithm. Moomoo AU shall not be held liable for any loss or damage arising from any failure to execute an order due to network interruption, server abnormality, and other factors beyond its control.