What is market order

A market order does not need to specify a price, and it is bought or sold at the current market price.

1. Order Time

1.1 Pre-set Orders

Pre-set orders can be placed after the end of the U.S. T day during the post-hours trading session, and can be executed on T+1 day. The pre-paid orders support settings: 1. Valid on the Day or Good-Til-Canceled, 2. Whether to allow Fill outside RTH.

1.2 Trading Hours

ET 09:30-16:00

Notes:

● The United States has summer time and winter time. Summer time is from 16:00 Beijing time to 8:00 the next morning, and winter time is 17:00 Beijing time to 9:00 the next morning.

● US Eastern Time 04:00-09:30 is the pre-market trading hours for US stocks, and 16:00-20:00 is the US stocks post-hours trading hours. Pre-market and post-market orders will be submitted to the exchange for trading.


2. Description and Precautions

1) When a market order is placed in the pre-market period, the system will freeze the order and submit it to the exchange for trading during the continuous trading hours; 

2) Market orders do not guarantee the best execution price, especially when the market changes rapidly, market orders may be executed at a higher or lower price.

3) Note that the market order price will be calculated according to the mkt order multiplier * current price, and FUTU would change or reset the multiplier in accordance with market situation. Your purchasing power will be reduced accordingly. After the order is completed or canceled, the frozen part of the purchasing power will be released.

4) To prevent the execution prices of market orders from greatly deviating from expectations and causing losses, Futu temporarily deems the liquidity of some scenarios as insufficient and will therefore disable the placement of market orders.

Disclaimer

Market order is a convenient online trading method provided by Futu for customers. Futu provides stable services as much as possible, but it cannot guarantee its absolute reliability. If the limit order is not executed due to network interruption, server abnormality and other physical factors, Futu will not be liable for any loss or damage caused thereby.