Understanding order types on MT5
Categories: Trading Software
Tags: MT5 metatrader 4 malaysia
Publish date: 2026-6-8
Every trading strategy depends on the ability to enter and exit the market with precision. MT5 expands the range of available order types beyond what most traders are familiar with on MT4, giving them more control over how and when trades are executed.
Market orders
A market order is the most straightforward order type. It executes immediately at the best available price. On MT5, market orders support both instant execution and market execution modes, depending on broker’s configuration. This is useful for traders who need to act quickly in fast-moving conditions.
Pending orders: 6 types
MT5 offers six pending order types, compared to four on MT4. The familiar Buy Limit, Sell Limit, Buy Stop, and Sell Stop orders are all present. MT5 adds two new types: Buy Stop Limit and Sell Stop Limit.
A Buy Stop Limit order, for example, is placed above the current price. When the price reaches the stop level, the platform automatically places a Buy Limit order at a specified price below that trigger. This is particularly useful in breakout strategies where traders want confirmation of a move before entering at a better price.
Stop Loss and Take Profit
Every order on MT5 can include Stop Loss (SL) and Take Profit (TP) levels. These can be set at the time of order placement or added and modified after the trade is open. MT5 also supports Trailing Stop, which automatically adjusts traders’ Stop Loss as the price moves in favour of the trades, helping to lock in gains while keeping the trade open.
Hedging and netting
MT5 supports two position accounting systems. In hedging mode, traders can hold multiple positions on the same instrument – including opposing positions – which is the system most forex traders are accustomed to. In netting mode, all positions on the same instrument are aggregated into a single position, which is the standard approach on exchange markets.
It’s important that traders understand the accounting model of their account(s), as it directly affects how positions are managed, how margin is calculated, and how trade history is recorded.
Currently, FXCM does not offer the MT5 platform. Traders may use MT4, which is currently available.
[Disclaimer] The articles above are purely personal opinions and are not intended to be investment advice. Only for the purpose of mutual learning and sharing. There is no express or implied warranty regarding the accuracy or completeness of the above-mentioned information. Anyone who relies on the information, ideas, or data contained in this article does so entirely at their own risk.