# Order Book basics

### **What is an Order Book?**

An order book is a list of all the buy and sell orders for a particular market. It lets traders specify the price they’re willing to pay (or accept) and the number of shares they want to trade. This feature is transformational because it offers a structured way to match trades and provides transparency into market depth

### Viewing the Order Book <a href="#block-0504dee0b87445be966ee801e1354004" id="block-0504dee0b87445be966ee801e1354004"></a>

* <mark style="color:red;">Sell</mark> orders are standing offers to sell shares. You can immediately match with that offer to purchase shares.&#x20;
* <mark style="color:green;">Buy</mark> orders are standing offers to buy shares. You can provide your own "resting" offer to buy at the same price.
* **Spread** is the difference between the highest Sell and the lowest Buy price.

<figure><img src="/files/HO4dD6YxDa1i9HDhvpKF" alt=""><figcaption></figcaption></figure>

### **Market** <a href="#block-8b3a3e78c26f43bc827e569af7b4f7db" id="block-8b3a3e78c26f43bc827e569af7b4f7db"></a>

Placed immediately at the best available prices. Perfect when you don't care about setting exact prices.

<figure><img src="/files/mealZ52ZQpFhARLFCIoQ" alt=""><figcaption></figcaption></figure>

### **Make a Limit Order** <a href="#block-8b3a3e78c26f43bc827e569af7b4f7db" id="block-8b3a3e78c26f43bc827e569af7b4f7db"></a>

Limit orders only trigger if the market hits your set price.

**Step 1: Set Your Price:** Enter the price at which you are willing to buy (or sell, if you’ve selected to sell) shares.

**Step 2: Specify Quantity**: Enter the number of shares you want to buy or sell at that price.

**Step 3: Place Your Order**: Click ‘Buy’ to submit your order.

<figure><img src="/files/nilQpFjsqdV3hmNcZ1er" alt=""><figcaption></figcaption></figure>

### Cancel Order

If your order is still waiting to be matched and you no longer wish to proceed, you can cancel the order at any time without incurring any fees.

<figure><img src="/files/wpcvNdZRvdVj8Tdg1l4z" alt=""><figcaption></figcaption></figure>


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