What kind of order types are available on MetaTrader 4 (MT4)?

*Please be informed that the MetaTrader 4 (MT4) trading platform is no longer available for newly created accounts (investment accounts). It is, however, still available to existing users who have been using the MT4 platform so far. We encourage you to check out our modern, extremely intuitive, award-winning trading platform - xStation 5!

• MT4 enables you to open trades with instant orders
• It also allows you to place pending orders
• There are four types of pending order available on the platform
• These pending orders are: Buy Stop, Sell Stop, Buy Limit, Sell Limit

MT4 enables you to open trades instantly or based on pending orders. While an instant order opens your trade immediately, pending orders allow you to open a position when a market reaches a certain price level.

There are four types of pending orders available in MT4:

1. Buy Stop: an order to buy a market once the price reaches a specific level, which is higher than the current price.
2. Sell Stop: an order to sell a market once the price reaches a specific level, which is lower than the current price.
3. Buy Limit: an order to buy a market once the price reaches a level that’s lower than the current price.
4. Sell Limit: an order to sell a market once the price reaches a level that’s higher than the current price.

Source: MT4