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Two order types cover almost everything you’ll do on Turbo: market orders when speed matters, limit orders when price matters.

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Market order

A market order executes immediately at the best price available in the order book. Because prices come from a live order book, you can see the market you’re trading into before you tap confirm — the order screen shows you the expected fill. On a liquid market, a modest market order fills at or very close to the price on screen. On a thinner market, or with a large order, your order can consume several levels of the book and fill at an average price further from the top — that difference is slippage. Use it when: you want in (or out) now, and the market is liquid enough that a few cents either way doesn’t change your decision.

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Limit order

A limit order names your price: it only executes at that price or better. Set a buy limit below the current price, or a sell limit above it, and the order rests in the book until the market comes to it. The trade-off is certainty of price for certainty of execution — if the market never reaches your price, the order never fills. Use it when: you have a level in mind, you’re trading a thinner market, or you’re working a larger size and don’t want to pay slippage.

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Protecting a position

Once a position is open, you can attach a take profit and stop loss so it closes itself at levels you choose — in profit or in loss — without you watching the screen.
  • Fees — what each trade costs, shown before you confirm.
  • Markets — how the order book sets the price.