How to Place a Pending Order on MT4

A pending order is an instruction to buy or sell a financial instrument at a future specified price, rather than at the current market price. MetaTrader 4 supports four pending order types, each suited to a different scenario. Pending orders are held on the broker's server, which means they trigger automatically when price reaches the chosen level, even if MT4 is closed on your device.

This article explains what a pending order is, the four pending order types in MT4, how to place one step by step, how to attach a stop loss and take profit, and how to modify or delete a pending order before it triggers.

What Is a Pending Order in MT4?

A pending order tells the broker to open a position when the market reaches a specified price, rather than immediately at the current market. The order sits inactive until the trigger price is reached. If price reaches the level, the order converts into a market position; if the order expires or is cancelled first, no position is opened.

Pending orders are useful when you have an idea of where you would want to enter the market but the current price is not yet at that level. Rather than watching the screen and clicking when price arrives, the pending order does the entry for you, executing immediately when the level is touched.

In MT4, pending orders are server-side. They remain active when the MT4 terminal is closed and trigger as soon as the price condition is met. This is one of the main practical advantages of pending orders over manual market entries.

The Four Types of Pending Orders in MT4

MT4 supports four pending order types. The choice between them depends on whether you want to enter long or short, and whether you want to enter at a price better than the current market (a limit order) or at a price worse than the current market (a stop order).

A Buy Limit is an order to go long at a price below the current market. It is used when you expect the market to fall to a level and then bounce back upwards. The order triggers when the ask price reaches the specified level.

A Sell Limit is an order to go short at a price above the current market. It is used when you expect the market to rise to a level and then reverse downwards. The order triggers when the bid price reaches the specified level.

A Buy Stop is an order to go long at a price above the current market. It is used when you expect a breakout: the market is currently lower, but if it rises through a key level you want to be in the trade. The order triggers when the ask price reaches the specified level.

A Sell Stop is an order to go short at a price below the current market. It is used when you expect a breakdown: the market is currently higher, but if it falls through a key level you want to be in the trade. The order triggers when the bid price reaches the specified level.

In summary, limit orders enter the market at prices that are favourable relative to the current price, in anticipation of a reversal. Stop orders enter the market at prices that are less favourable relative to the current price, in anticipation of momentum continuing.

How to Place a Pending Order on MT4

Placing a pending order in MT4 follows a clear sequence.

First, open the New Order window. You can do this by pressing F9, choosing Tools > New Order from the menu, or right-clicking the symbol in the Market Watch window and selecting New Order. Make sure the symbol you want to trade is selected in the Symbol field.

Next, change the Type dropdown from Market Execution to Pending Order. This switches the window from immediate-execution mode to pending-order mode and reveals additional fields.

Select the pending order type from the sub-dropdown labelled Type within the pending order section: Buy Limit, Sell Limit, Buy Stop, or Sell Stop.

Enter the trigger price in the "at price" field. This is the level at which you want the order to activate. MT4 verifies that the price is on the correct side of the market for the order type you selected; if the price is on the wrong side, the order will be rejected when you try to place it.

Enter the volume (number of lots) you want to trade. The minimum is 0.01 lots on the Standard, Raw, and VIP Black accounts, or 0.001 lots on the Nano account. The maximum is 20 lots per trade across all account types at TIOmarkets.

Optionally, set a stop loss and take profit using the Stop Loss and Take Profit fields, expressed as absolute prices. These will be attached to the position when the pending order triggers.

Optionally, set an expiry. Tick the Expiry checkbox and enter a date and time. If you leave the box unticked, the order is treated as Good Till Cancelled and remains active until you delete it or it triggers.

Click Place. The pending order is sent to the server and appears in the Trade tab of the Terminal window (Ctrl+T), listed with its type, volume, symbol, trigger price, and any attached stop loss or take profit.

Adding Stop Loss and Take Profit to a Pending Order

A pending order can carry a stop loss and take profit just as a market position can. These are entered as absolute price levels in the same New Order window when the pending order is created.

When the pending order triggers and becomes an active position, the stop loss and take profit are already in place. There is no gap between the position opening and the protective levels being attached.

You can also add or modify a stop loss or take profit on a pending order before it triggers. From the Trade tab, right-click the pending order and select Modify or Delete Order. Enter or change the stop loss and take profit values in the dialog and click Modify.

Modifying or Deleting a Pending Order

A pending order that has not yet triggered can be modified or removed at any time.

To modify a pending order, right-click it in the Trade tab of the Terminal window and select Modify or Delete Order. In the modify dialog, you can change the trigger price, the stop loss, the take profit, and the expiry. Click Modify to confirm.

To delete a pending order, follow the same right-click route but click Delete in the dialog instead of Modify. The order is removed from the server and no longer active. You can also drag the pending order's price line on the chart if Show trade levels is enabled (Tools > Options > Charts), which opens the modify dialog with the new price pre-filled.

Pending orders can be cancelled by their expiry, manually deleted, or triggered into an active position. They cannot exist indefinitely if an expiry is set, and they cannot be partially filled.

Practical Considerations for Pending Orders on MT4

A pending order is convenient, but a few things affect how it behaves in live markets.

Server-side execution means the order remains active when MT4 is closed. This is one of the main advantages over manual entries. However, it also means the order will trigger whether or not you are watching, including during overnight or weekend price moves that you may not anticipate.

Minimum distance rules apply. MT4 enforces a stops level that defines how close to the current market price you can place a pending order. Attempting to place one too close produces an Invalid price or Invalid stops message. The required distance varies by instrument and is shown in the symbol's specification (right-click the symbol in Market Watch and select Specification).

The maximum number of open and pending orders combined is 200 per client across all accounts at TIOmarkets, and the maximum size per trade is 20 lots.

Execution at the trigger price is at the best available market price, which may result in positive or negative slippage. Limit orders enter at the specified price or better under normal conditions, while stop orders may slip in fast-moving markets. The fill policy in MT4 is Fill or Kill: the order either fills in full at acceptable prices or is rejected.

Demo accounts often execute instantly and may not fully replicate live slippage conditions, so pending order fills on a demo can look cleaner than they will in live trading.

MT4 offers four pending order types. MetaTrader 5 supports six, with Buy Stop Limit and Sell Stop Limit as additional combined order types not available in MT4. Traders who need those additional types may want to consider MT5.

Trading at TIOmarkets

TIOmarkets offers MetaTrader 4 and MetaTrader 5 on desktop, web, and mobile, across four account types. The Standard account is created automatically on registration with a minimum deposit of $20 or currency equivalent. The Raw and VIP Black accounts are opened separately through the client area. The Nano account is MT5 only with a $20 minimum deposit, USD only. Hedging is supported on all accounts. A swap-free Islamic account is available; contact TIOmarkets for eligibility and instrument requirements. Copy trading is available on both MT4 and MT5.

Orders are executed at the best available market price, which may result in positive or negative slippage. Demo accounts often execute instantly and may not fully replicate live slippage conditions. Spreads are variable and are typically higher than minimum figures shown. Leverage on each instrument is subject to change depending on market conditions and applicable regulatory requirements. You can review the full list of account types on the TIOmarkets accounts page.