A market order is an order placed to trade at current market price that requires no price setting and enables quick trading.
Market orders guarantee filling but not trading price, particularly when market changes quickly. For stocks not actively traded, market orders often are executed at prices too high or too low;
Market orders placed pre-opening or post-closing are likely to be filled at a price too high or too low when the market opens;
For US Market, Market orders may be placed pre-opening starting on 09:30 EST. Prior to this time point, only Limit Orders may be placed. The corresponding Singapore time is 22:30 (non-day light saving) and 21:30 (day light saving).