MetaTrader 5 (MT5) offers a variety of order types that allow traders to enter, manage and automate trades based on their trading strategy.

Market Orders

A Market Order is executed immediately at the best available market price.

- Buy Order – Opens a position expecting the price to rise.
- Sell Order – Opens a position expecting the price to fall.

Pending Orders

Pending Orders allow you to specify a price at which you would like a trade to be opened automatically in the future.

- Buy Limit – Buy below the current market price.
- Sell Limit – Sell above the current market price.
- Buy Stop – Buy above the current market price.
- Sell Stop – Sell below the current market price.
- Buy Stop Limit – Combines Buy Stop and Buy Limit functionality.
- Sell Stop Limit – Combines Sell Stop and Sell Limit functionality.

Risk Management Orders

MT5 also allows traders to manage risk using:

- Stop Loss (SL) – Automatically closes a trade to help limit losses.
- Take Profit (TP) – Automatically closes a trade when a target profit level is reached.

These order types provide flexibility for both beginner and experienced traders, allowing positions to be executed immediately or automatically when specific market conditions are met.

For a visual demonstration of placing different order types on MT5, please refer to the instructional video below.