#OrderTypes101 Your Brief Guide to Understanding Trading Orders on Binance

Are you new to the trading world or looking to enhance your skills? Let’s take a quick look at the most common types of orders

1. Market Order

Example:

You wanted to buy BNB quickly. Using a market order, you buy it immediately at the best available price in the market. Ideal for instant execution, but it does not guarantee the price you will pay.

2. Limit Order

Example:

You want to buy BNB at a price of $500, while the current price is $520. You use a limit order at $500; the order will only be executed if the price reaches that or lower.

3. Stop Order