Order types in MT5

The order type defines the entry condition, but it does not replace a trading plan. Before submitting the order, check the direction, volume, price, S/L and T/P.

This is a practical continuation of the comprehensive guide “Complete MetaTrader 5 Guide”. If you haven’t set up the account, Market Watch, and the symbol specification yet, start with that first.

Buy Limit, market, Buy Stop and Stop Limit scheme — The educational diagram shows the logic of the levels; the actual Bid/Ask, minimum distance, and order set depend on the broker and platform. Click the diagram to open it in full size.

Market and pending order

Market Order used to enter at the available market price. Pending Order activates only after the specified level is reached.

Order	Logic
Buy Limit	Buy below the current price.
Sell Limit	Sell above the current price.
Buy Stop	Buy above the current price after the level is reached.
Sell Stop	Sell below the current price after the level is reached.

Some accounts and symbols also support Stop Limit. Availability and execution rules should be checked in the instrument specification.

The activation price of a pending order does not guarantee the exact execution price. In a fast market, slippage, gaps, and partial execution are possible.

Entry scheme, Stop Loss and Take Profit for a long position — For a short position, the level direction is mirrored. A level does not guarantee execution without slippage. Click on the diagram to open it in full size.

How to open and modify an order in MT5

Select the symbol in the Market Watch window.
Open New Order.
Specify the volume and execution type.
For a pending order, set the activation price and, if needed, the expiration time.
Specify S/L and T/P.
Before confirming, double‑check the symbol, BUY/SELL, and lot size.

To modify an open position or pending order, locate it on the “Trade” tab, open the context menu, and select modify. The command name varies with the interface language and account type.

Before sending the order

Check the trading hours of the symbol;
Take the current spread into account;
Make sure the pending order price meets the broker's minimum distance;
Don't confuse Limit and Stop;
Link the volume to the permissible monetary risk.