Most common way of carrying orders; an instruction or order from a client, via broker or brokerage service, to immediately purchase or sell an investment at the best current market price. It is the default option and is likely to be administered because it does not have restrictions on the buy and sell prices or the timeframe a market order can be entered. If the broker does not receive an additional instruction from the investor, it will automatically be placed as market order.
Sometimes referred to as unrestricted order.
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