MT4 supports market orders and four basic pending order types. MT5 adds two stop-limit pending types. This comparison explains MetaTrader order mechanics; use only the types offered for your selected account, instrument and interface. An MT5 capability does not mean every type is available in Web Trader or FXTRADING.com App.
Common Order Types in Both Platforms
For forex/CFD trading, a market Buy requests execution using Ask, while a market Sell uses Bid. Submission is a request, not a completed trade; review the execution result and history. The final price can differ from the quote you saw before sending.
Market Orders
Buy (Market)
Sell (Market)
Pending Orders
Buy Limit
Sell Limit
Buy Stop
Sell Stop
The four pending types below set a future entry condition. Buy types use Ask and Sell types use Bid. Limit types seek entry at a specified limit or better; Stop types activate after the relevant quote reaches or passes the stop level. A chart touching a level alone does not prove the order filled.
MT5 Exclusive Order Types
Buy Stop-Limit: Uses two prices. The stop level is above the current Ask; the limit price is below that stop level. When Ask reaches the stop level, a Buy Limit is placed at the separate limit price. The trigger creates a pending limit order, not an immediate completed Buy.
Illustration: Ask is 1.1000, the stop is 1.1050 and the buy limit is 1.1030. Reaching 1.1050 creates the limit order at 1.1030. If Ask continues higher without returning to the limit condition, the limit order may remain unfilled. These are example prices, not a trade recommendation.
Sell Stop-Limit: Uses two prices in the opposite direction. The stop level is below the current Bid; the limit price is above that stop level. When Bid reaches the stop level, a Sell Limit is placed at the separate limit price. Triggering does not mean a Sell has filled.
Illustration: Bid is 1.1000, the stop is 1.0950 and the sell limit is 1.0970. Reaching 1.0950 creates the limit order at 1.0970. If Bid continues lower without returning to the limit condition, the limit order may remain unfilled. These are example prices, not a trade recommendation.
A Stop order and a Stop-Limit order handle entry differently: the former triggers a market execution request, while the latter first creates a limit order. Neither is the same as a Stop Loss attached to an existing position. A stop-limit structure does not guarantee a fill, an exact execution time or improved results in volatile markets.
Check the selected order type, both prices where applicable, volume, expiry and instrument conditions before sending. After sending, distinguish an accepted pending order from a filled trade in the actual records. Rejection, cancellation or expiry can prevent entry; do not submit a duplicate solely because you do not yet see a position.