What a pending order is
A pending order is an instruction to open a trade later, when the price reaches a level you choose. Until then, no position exists and no profit or loss is running. A market order is different: it opens immediately at the current price. Our guide on how to open a trade covers market orders.
MetaTrader 5 has two prices for every symbol:
- Bid: the price at which you can sell.
- Ask: the price at which you can buy.
Buy pending orders trigger on the Ask price. Sell pending orders trigger on the Bid price. This matters on wide spreads, because a buy order can trigger even if the Bid line on the chart never touched your level.
The pending order types
MetaTrader 5 has three pairs of pending orders. Each pair has a buy version and a sell version.
| Order | Placed | Expectation behind it | Fills at |
|---|---|---|---|
| Buy Limit | Below current Ask | Price falls to the level, then rises | Your price or better |
| Sell Limit | Above current Bid | Price rises to the level, then falls | Your price or better |
| Buy Stop | Above current Ask | Price breaks up through the level and keeps rising | Next available price |
| Sell Stop | Below current Bid | Price breaks down through the level and keeps falling | Next available price |
| Buy Stop Limit | Stop price above Ask, limit price below the stop price | Price breaks up, then pulls back | Places a Buy Limit when triggered |
| Sell Stop Limit | Stop price below Bid, limit price above the stop price | Price breaks down, then pulls back | Places a Sell Limit when triggered |
These expectations describe what each order is built for. They are not a view on any market.
Where each order sits relative to price
A simple way to remember it is that Limit means a better price than now (buy cheaper, sell higher). Stop means a worse price than now, accepted in exchange for confirmation that price is moving in your direction.
Buy Limit and Sell Stop
Both sit below the current price. A Buy Limit buys a dip. A Sell Stop sells a breakdown. They are placed on the same side of the price but rely on opposite expectations.
Buy Stop and Sell Limit
Both sit above the current price. A Buy Stop buys a breakout. A Sell Limit sells into a rise. The same rule applies in reverse.
Stop limit orders
A stop limit order has two prices. When the market reaches the stop price, MetaTrader 5 does not open a position. It places a limit order at the limit price you set. If price never comes back to that limit price, nothing fills. This gives you control over the entry price after a breakout, but you may miss the move entirely.
Slippage and gaps
Stop orders become market orders when triggered. In fast markets, around news, or when a market opens after a weekend gap, the fill can be noticeably worse than your stop price. This is called slippage. Limit orders do not fill at a worse price, but after a gap they may fill at a better price, or not fill at all.
Leveraged CFD and forex trading can lose money fast. A pending order does not limit your loss by itself. Attach a stop loss, and size the trade with risk management in mind.
How to place a pending order in MetaTrader 5
Labels can differ slightly between platform builds and between desktop, web and mobile versions. The desktop steps are:
- Open the New Order window from the Tools menu (New Order), from the toolbar, or by right-clicking the chart and choosing Trading.
- Select the symbol.
- Set Type to Pending Order.
- Choose the order type, for example Buy Limit or Sell Stop.
- Enter the Volume in lots.
- Enter the Price. For stop limit orders, also enter the Stop Limit price.
- Set Stop Loss and Take Profit if you want them. See stop loss and take profit.
- Choose the Expiration setting.
- Click Place.
You can also right-click a price level on the chart and choose an order from the Trading submenu. MetaTrader 5 then offers the order type that fits that level.
Brokers set a minimum distance between the current price and a pending order, often called the stops level. If the platform shows "Invalid price" or "Invalid stops", the order is too close to the market. Check the symbol's contract specifications and our list of MetaTrader errors.
Expiry options
The Expiration field decides how long the order stays active:
| Setting | Meaning |
|---|---|
| GTC (Good till cancelled) | Stays until it triggers or you delete it |
| Today | Expires at the end of the current trading day |
| Specified | Expires at the exact date and time you enter |
| Specified day | Expires at the end of the date you choose |
Not every symbol allows every mode. The available modes are shown in the contract specifications. The time used is the trading server time, not Pakistan time, so check the server clock in Market Watch before setting an exact expiry.
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How to modify a pending order
- Open the Toolbox window and go to the Trade tab. Pending orders are listed below open positions.
- Double-click the order, or right-click it and choose Modify or Delete.
- Change the price, stop loss, take profit or expiration, then click Modify.
On the chart, you can drag the order line to a new level if dragging of trade levels is enabled under Tools > Options > Charts. You cannot change the volume of a pending order. To change it, delete the order and place a new one.
How to cancel a pending order
- In the Trade tab, right-click the order and choose Modify or Delete, then click Delete.
- Or open the order window by double-clicking and click Delete.
Deleted and expired orders appear in the History tab. See trade history for filtering.
Pending orders and margin
A pending order does not use margin until it fills. When it triggers, margin is checked at that moment. If free margin is too low, the order is rejected. Several pending orders can trigger together in a fast move, so look at the combined exposure before placing them.
Frequently asked questions
What is the difference between Buy Limit and Buy Stop?
A Buy Limit sits below the current price and buys a fall. A Buy Stop sits above it and buys a rise through that level.
Why did my Buy Limit trigger when the chart line did not touch it?
Buy orders trigger on the Ask price. The chart usually shows the Bid line. Enable the Ask line in the chart properties to see both.
Can I practise pending orders without real money?
Yes. A demo account lets you test placing, modifying and deleting orders.
Does a pending order protect me from losses?
No. It only controls the entry. Use a stop loss, and remember that slippage can still make the loss larger than planned.
Do pending orders stay active when the terminal is closed?
Yes. They are stored on the broker's server and work while your terminal is offline. A trailing stop is different: it needs the terminal running.
