When you place a market order, you are telling your broker to buy or sell an asset at the best available price. This means that your order will be filled at the next available opportunity, which may be at a slightly higher or lower price than the current market price.
limit order, on the other hand, is an order to buy or sell an asset at a specific price or better. A limit order ensures that you will never pay more than your limit price, but it does not guarantee that your order will be filled.
NOTE: WARNING: Market orders on Binance can be more expensive than limit orders. Market orders may incur higher trading fees, and may even lead to losses due to rapid price movements. If you are unfamiliar with market orders, please research the topics thoroughly or seek professional advice before trading.
So, are market orders more expensive on Binance? The answer is maybe. If the market price of the asset you are trying to buy is higher than the limit price you set, then your market order will be more expensive.
However, if the market price is lower than your limit price, then your limit order will be more expensive.
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