Market order vs. limit order: What's the difference?

Most major online platforms don't charge any commission for a market or a limit order, although investors who use a live broker or buy a thinly traded stock may pay a fee for a limit order.
Alyssa Powell/Insider
A market order is an order to buy or sell a security immediately, guaranteeing an execution but not a price.
A limit order is an order to buy or sell a security at a specific price, or better, and isn't guaranteed to be executed.
Each of these order types give investors more control ove