GlossaryIntermediate
Maker Order
An order that adds new liquidity to an order book rather than filling an existing order.
A maker order adds new liquidity to an exchange's order book by placing an order that isn't immediately matched against an existing order — such as a limit order placed away from the current market price.
Many exchanges charge lower fees for maker orders than taker orders, since makers contribute to overall market liquidity.
Examples
- A limit order that sits on the book waiting to be filled is typically classified as a maker order.
- Maker fees are commonly lower than taker fees to encourage adding liquidity.