Types of Orders in MT5

MetaTrader 5 (MT5) offers several types of trading orders to accommodate different strategies and market conditions. The two main categories are market orders and pending orders. A market order executes a trade instantly at the current market price. Pending orders, on the other hand, include Buy Limit, Sell Limit, Buy Stop, and Sell Stop, which execute trades only when the market reaches a specified price level. MT5 also includes Buy Stop Limit and Sell Stop Limit, advanced order types that combine stop and limit order characteristics for greater control. Additionally, traders can use Stop Loss and Take Profit to manage risk and lock in profits automatically. These flexible order options allow MT5 users to implement both manual and automated trading strategies with precision.