A Market Order ("MO") is an order that does not require a customer to set the price and is executed at prevailing market prices.
A MO enables the orders to be filled quickly, but the executed prices cannot be guaranteed. For illiquid stocks, or for a fast-changing market, MOs can be filled at prices that are much higher or lower.
If a customer places a market buy order, 130% of the order value (based on the latest market price) will be temporarily frozen in their account. The frozen funds will be released upon settlement of the transaction. This amount is only for reference purposes, and the final transaction amount will be based on the actual execution price.