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Taker
A taker order occurs when a trader places an order that executes immediately by matching with an existing maker order on an exchange’s order book. This will always occur with a market order and can also occur with a limit order that has a limit price which can be met instantly.
Taker orders remove liquidity from an exchange’s order book. It is common for exchanges to charge higher fees to taker orders as a result of this removed liquidity.
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