Taker

An order that fills immediately against an order already in the book, removing liquidity.

In plain English

Market orders are always takers, and so is a limit order priced through the other side. Taker fees are usually the higher of the two, so how you enter changes what a trade costs.

Example

A market buy that fills against resting sell orders is a taker trade.

Trading BasicsMarket Structure

See also

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