Apr 15 2025 • 6 min read

# Understanding Order Types on MT5: Market, Limit, Stop, and More Apr 15, 2025 • 6 min read Team BitDelta Pro Market Limit MetaTrader 5 Order Types Key Highlights Market orders offer instant execution but can face slippage in volatile markets. Limit orders give price control but aren’t guaranteed to execute. Stop…  ###### Table of contents - [Key Highlights](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-0) - [What Are Order Types in MT5 Trading?](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-1) - [Market Orders](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-2) - [When to Use Market Orders:](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-3) - [Pros:](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-4) - [Cons:](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-5) - [Limit Orders](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-6) - [Buy Limit vs. Sell Limit Orders](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-7) - [Advantages](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-8) - [Disadvantages](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-9) - [Stop Orders](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-10) - [Buy Stop vs. Sell Stop Orders](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-11) - [Role in Breakout Trading](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-12) - [Stop-Limit Orders](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-13) - [Functionality in Different Scenarios](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-14) - [Advanced Order Types on MT5](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-15) - [How to Place Orders on BitDelta Pro’s MT5 Platform](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-16) - [Mastering Order Types for Smarter Trades on MT5](https://bitdelta.pro/blog/understanding-order-types-on-mt5-market-limit-stop-and-more/#section-17) ## Article updates log This Article was researched and written on Apr 10th, 2025 by Jonathan Morgan. This Article was reviewed and updated on Apr 2nd, 2026 by Scott Cairns.. ## Key Highlights - Market orders offer instant execution but can face slippage in volatile markets. - Limit orders give price control but aren’t guaranteed to execute. - Stop and stop-limit orders help manage risk and catch breakout opportunities. - Trailing stops and OCO orders add flexibility for dynamic market conditions. - BitDelta Pro’s MT5 makes it seamless to place, monitor, and manage all order types — even for beginners. [MetaTrader 5 (MT5)](https://bitdelta.pro/platform/metatrader-5) is a high-end trading platform renowned for its advanced features and user-friendly interface. A crucial aspect of trading effectively on MT5 is comprehending the various order types available. This knowledge empowers traders to execute trades strategically, aligning with their specific market perspectives and risk management plans. ## What Are Order Types in MT5 Trading? Order types in MT5 are instructions that traders provide to the platform to execute trades under predefined conditions. They are essential tools that help traders manage their positions efficiently and capitalise on market opportunities. Broadly, these orders are categorised into: - **Market Execution Orders:** Immediate orders to buy or sell at the current market price. - **Pending Orders:** Instructions to buy or sell at a specified price point in the future. ### Market Orders A **market order** is an instruction to buy or sell a security immediately at the best available current price. This type of order guarantees execution but does not guarantee a specific price, especially in volatile markets where prices can change rapidly. #### _When to Use Market Orders:_ - When swift execution is prioritised over the exact price. - In highly liquid markets where price slippage is minimal. #### _Pros:_ - Immediate execution. - Simplicity in fast-moving markets. #### _Cons:_ - Potential for price slippage in volatile conditions. - Lack of control over the execution price. ### **Limit Orders** A **limit order** sets the maximum or minimum price at which you are willing to buy or sell a security. A buy limit order is placed below the current market price, while a sell limit order is set above it. This order type ensures price control but does not guarantee execution, as the market may not reach the specified price. #### _Buy Limit vs. Sell Limit Orders_ - **Buy Limit:** An order to purchase a security at or below a specified price, aiming to capitalise on anticipated price increases. - **Sell Limit:** An order to sell a security at or above a specified price, targeting profits before a potential price decline. #### _Advantages_ - Greater control over entry and exit prices. - Useful for executing trades at perceived optimal price levels. #### _Disadvantages_ - No assurance of execution if the market doesn’t reach the limit price. - Partial fills may occur if only a portion of the order can be executed at the specified price. ## Stop Orders A **stop order**, also known as a stop-loss order, becomes a market order once the stop price is reached. Buy stop orders are placed above the current market price and sell stop orders are set below it. This mechanism is often employed to limit potential losses or to enter the market on a breakout. ### _Buy Stop vs. Sell Stop Orders_ - **Buy Stop:** An order to buy a security once its price surpasses a specified level, indicating upward momentum. - **Sell Stop:** An order to sell a security when its price drops below a specified level, signalling potential further decline. #### _Role in Breakout Trading_ Stop orders can be instrumental in breakout strategies, enabling traders to enter positions as the price breaks through resistance or support levels, anticipating continued movement in that direction. ## Stop-Limit Orders A **stop-limit order** combines the features of stop and limit orders. Once the stop price is reached, the order becomes a limit order at a predetermined price. This approach provides control over the execution price but carries the risk of non-execution if the market price does not meet the limit criteria. ### _Functionality in Different Scenarios_ - **Risk Management:** Helps in setting precise entry and exit points, mitigating potential losses. - **Volatile Markets:** Useful when price fluctuations are significant, and exact execution prices are crucial. ## Advanced Order Types on MT5 MT5 offers several advanced order types to enhance trading flexibility: - **Trailing Stop Orders:** These orders adjust the stop price at a specified distance from the current market price, locking in profits while allowing the position to remain open as long as the market moves favourably. - **Expiration Types:** - **Good Till Cancelled (GTC):** The order remains active until it is executed or manually cancelled. - **Good Till Date (GTD):** The order remains active until a specified date unless it has been executed or cancelled before then. - **One-Cancels-the-Other (OCO) Orders:** A pair of orders where the executi