Both market orders and limit orders are accepted. Limit is the default order type.
Limit orders:
A limit order will only be executed if contracts are available at or better than your set limit price. For buys, a limit order will only execute at your limit price or lower. For sells, at your limit price or higher. Limit orders can be set good for the day or good til canceled.
Limit orders guarantee a price at or better than the limit price, but don't guarantee that the order will be filled. There's a chance the order doesn't fill immediately, or never executes.
Market orders:
A market order will execute at the market's current best available price. In contrast to limit orders, market orders don't guarantee a price. Keep in mind that for contracts with low liquidity, market orders may stay pending until an execution can take place, if at all.
In certain instances of low liquidity, a wide spread, or low open interest, Public will limit trading on a contract to limit orders only to help ensure fair-priced execution for our members.
For any questions, please contact Member Support via in-app chat or email at support@public.com.