A guaranteed order is an order placed with a broker that ensures the order will be executed at a specific price or better. This type of order is often used in volatile markets where prices can fluctuate rapidly. With a guaranteed order, the broker guarantees that the order will be executed at the specified price, regardless of market conditions. This means that if the price moves against the trader, the broker will absorb the loss to ensure the trader gets the price they requested. Guaranteed orders often come with a premium, as the broker is taking on additional risk by offering this type of order.