A Market Order is an order to instantly buy or sell at the best available current price. In other words, the best available current price is the Limit Orders previously placed on the Order Book.
A trade will be executed instantly (unlike a Limit Order). In consequence, you pay the fees as a Market Taker.
On the top of the Order Form, your chosen Collateral and Leverage are being displayed. The two boxes below are defined by your Trading Pair.
The first box - unlike in a Limit Order - is auto-defined as “Market Price” and not editable.
The second box is where you put the Amount of your Pair Coin you want to buy or sell for the best available Market Price.
Alternatively, you can move the Amount Slider to change Amount of your Pair Coin you want to buy or sell for the best available Market Price.
Market Orders are usually used when it is a priority to get your order filled over getting a certain price. Therefore, you should only use Market Orders if you are willing to pay higher prices and fees caused by “Slippage”.