A market order does not need to specify a price, and it is bought or sold at the current market price.
Pre-set orders can be placed after the end of the Closing Single Price Auction trading phase and can be executed on T+1 day. The pre-set orders support settings: Valid on the Day or Good-Till-Cancel (90 days expiry).
10:00 -16:00 (AET)
2.1 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; although the market order is supported in the post-hours period, it may not be filled.
2.2 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.
2.3 Note that the market order price will be calculated according to the mkt order multiplier * current price, and Futu Securities (Australia) Ltd trading as Moomoo AU 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.
*Disclaimer
Market order is a convenient online trading method provided by Moomoo AU for customers. Moomoo AU 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, Moomoo AU will not be liable for any loss or damage caused thereby.