1. Order Types
In MetaTrader 5, order types define how traders place trades, mainly divided into Market Orders and Pending Orders.
✅ 1. Market Order
Definition: Executed immediately at the current market price
Use: For instant entry or exit
Suitable for: Traders focusing on speed (scalpers, day traders)
Example: Clicking “Buy” Gold executes instantly at the best available price.
✅ 2. Pending Orders
Definition: Orders triggered once price reaches a pre-set level
Types: MT5 supports six types
Common Types:
• Buy Limit: Buy below current price, waiting for retracement
• Sell Limit: Sell above current price, waiting for rebound
• Buy Stop: Buy above current price, triggered on breakout
• Sell Stop: Sell below current price, triggered on breakdown
• Buy Stop Limit: Breakout first, then retrace to buy
• Sell Stop Limit: Breakdown first, then rebound to sell
📌 Pending orders can include Stop Loss / Take Profit and expiry settings (GTC or Expiry Date).
2. Execution Types
Execution types define how trades are filled on the platform. AFT’s execution model depends on account type and instruments.
✅ 1. Market Execution
Orders matched at real-time market prices
Primary execution type on AFT
Common for Forex, metals, energy products
✅ 2. Instant Execution
Orders try to fill at the requested price
If deviation exceeds allowed range, order may be rejected
Used in some stock CFDs or less liquid contracts
✅ 3. Request Execution
System returns a quote, client must confirm manually
Mostly used for special or illiquid contracts (rare)