GlossaryIntermediate
Taker Order
An order that immediately fills against existing liquidity on an order book.
A taker order immediately matches and fills against existing orders already on an exchange's order book, removing ("taking") liquidity rather than adding it.
A market order is typically a taker order by nature, since it executes immediately against whatever liquidity is currently available.
Examples
- A market order that fills instantly against existing orders is a taker order.
- Taker fees are commonly higher than maker fees on many exchanges.