What is the difference between a market order and a limit order on Pluang?
The difference is what you control. With a Limit order you control the price and give up certainty: you name the exact price you will buy or sell at, and the order only executes if the market reaches it — which it may never do. With a Market order you control the timing and give up the price: you enter only the number of lots, and the order executes right away at the best price available on the exchange at that moment. A Limit order can sit unfilled all day. A Market order fills almost immediately, but at a price you cannot know in advance — which is why Pluang shows only an estimate before you confirm it, never a firm total.
Market order vs Limit order:
| Limit Order | Market Order | |
|---|---|---|
| What you enter | Lots and a price | Lots only — no price field |
| Price control | Full — executes at your price or better | None — executes at the best available price |
| Execution certainty | Not guaranteed — may never match | Very high — matches against whatever is on the book |
| Total cost shown before you confirm | A firm calculation from your price | An estimate only, which will change |
| How long it can stay open | Day (app and web), or Session / GTC (app only) | Not applicable — filled immediately, any unmatched portion is withdrawn |
| Available on | The Pluang app and the web trading platform | The Pluang app and the web trading platform |
| Best when | The price matters more than the speed | The speed matters more than the price |
What actually happens when you place each one:
- A Limit buy joins the queue at your price. It only fills when a seller is willing to meet it, and it competes with every other order at the same price on a first-come basis.
- A Market buy skips the queue entirely and takes the lowest price sellers are currently asking. If that first batch of shares does not cover your whole order, it moves to the next-lowest price, and so on.
The trade-off in one sentence: a Limit order protects you from a bad price but not from missing out, and a Market order protects you from missing out but not from a bad price.
Fees are identical either way. Choosing Market instead of Limit does not change what you pay — the same 0.15% on buy and 0.25% on sell applies, inclusive of taxes and third-party fees.
Related questions:
Q: When should I use a market order instead of a limit order on Pluang?
Use a Market order when being filled matters more than the exact price — for example when you want out of a position quickly, or when you are buying a heavily traded stock where the gap between bid and ask is small. Use a Limit order when you have a specific price in mind, when the stock is thinly traded, or when the price is moving sharply and you do not want to be filled at an unfavourable level.
Q: Is a market order more expensive than a limit order on Pluang?
No. Pluang charges the same all-in fee for both — 0.15% on a buy and 0.25% on a sell, inclusive of taxes and third-party fees. There is no premium for choosing Market. What can differ is the execution price: a Market order takes whatever the market offers, so on a thinly traded stock you may be filled at a worse price than you expected, which costs you money without being a fee.
Q: Does a market order always get filled on Pluang?
Almost always, but not guaranteed. A Market order matches against the orders sitting on the exchange at that moment, so if there are not enough shares available at any price, only part of your order fills and the rest is withdrawn rather than left open. It also cannot execute when the market is closed, or when the stock is suspended or has hit its daily price limit.
Q: Which order type is the default on Pluang?
Limit is the default. When you open the order form for an Indonesian stock, Limit is already selected and the price field is pre-filled, so placing a Limit order requires no extra steps. You have to deliberately switch the selector to Market — and when you do, the price field disappears entirely, leaving only the lot field.