How to Set a Buy Limit Order on MT4

A Buy Limit is one of the four pending order types on MetaTrader 4. It is an instruction to buy a specified volume of an instrument at or below a specified price, where the trigger price sits below the current market. Traders use Buy Limit orders to enter long positions on a pullback to support, rather than entering at the current market price.

This guide covers what a Buy Limit is, when traders use it, how to set one on MT4 using both the New Order dialog and the chart, how to configure the stop loss, take profit, and expiry, the minimum distance rule that governs how close the trigger price can sit to the current market, and how the order behaves once placed.

What Is a Buy Limit Order

A Buy Limit order tells the market: buy this volume at this price or better, where "better" means a lower price. The order is placed below the current ask price and sits passively until the market reaches the trigger price.

When the ask drops to the Buy Limit's price, the order executes as a market buy at that level, subject to any slippage. The Buy Limit is then removed from the pending list and appears in the Trade tab as a new open position.

Buy Limit is distinct from:

Buy Stop, which sits above the current market and triggers when the ask rises to the stop price. Buy Stop is used to enter long on an upside breakout.

Sell Limit, which sits above the current market and triggers when the bid rises to the limit price. Sell Limit is used to sell into resistance.

Sell Stop, which sits below the current market and triggers when the bid drops to the stop price. Sell Stop is used to sell on a breakdown.

Buy Limit specifically expects the market to dip and then resume direction, allowing entry at a more favourable price than the current ask.

When Traders Use Buy Limit Orders

Common scenarios for Buy Limit. These are descriptions of common practice, not advice.

Pullback to a known support level: if a chart shows price has bounced off a support level multiple times, a Buy Limit at or near that level lets the trader enter long if price returns to it.

Fibonacci retracement entries: traders using Fibonacci levels often place Buy Limits at the 38.2%, 50%, or 61.8% retracement of a prior move.

Round number entries: psychological levels (1.1000 on EURUSD, for example) attract Buy Limit orders from traders expecting the level to hold.

Returning to a moving average: if price has been trending up and pulls back to a key moving average, a Buy Limit at that level provides a planned entry.

The mechanics below apply regardless of the technical reasoning.

How to Set a Buy Limit Order on MT4

MetaTrader 4 provides two main methods.

Method 1: New Order Dialog

Press F9, or click the New Order button on the Standard toolbar, or go to Tools > New Order. The Order dialog opens.

Set the Symbol to the instrument you want to trade. The default is the active chart's symbol.

In the Volume field, enter the lot size.

In the Type dropdown, switch from "Market Execution" to "Pending Order."

In the Type subfield that appears, choose "Buy Limit."

In the "at price" field, enter the trigger price. The price must be below the current ask by at least the stops level distance.

Set the Stop Loss and Take Profit fields if you want them attached to the pending order.

Set the Expiry option. GTC (Good Till Cancelled) is the default and keeps the order active until filled or manually cancelled. Specified lets you pick a datetime after which the order is automatically cancelled.

Click Place. MT4 sends the pending order to the server.

If the order is accepted, it appears in the Terminal Trade tab as a Buy Limit row, and on the chart as a dashed line at the trigger price (if "Show trade levels" is enabled under Tools > Options > Charts).

Method 2: Right-Click the Chart

Right-click on the chart at the price level where you want to place the Buy Limit, and select Trading > Buy Limit from the context menu. The Order dialog opens with the trigger price pre-set to the level you clicked. Adjust Volume, SL, TP, and expiry, then click Place.

This method is faster when the desired trigger price is already visible on the chart.

Brief Illustration

Assume EURUSD is currently trading at 1.0900, with the ask at 1.09010 and the bid at 1.09000. You see strong support at 1.0850 and want to enter long if price pulls back to that level.

A Buy Limit at 1.08500 would trigger when the ask drops to 1.08500. You might set the Stop Loss at 1.08200 (30 pips below the trigger, just below the support level), the Take Profit at 1.09500 (100 pips above the trigger, at a prior swing high), and the Expiry to GTC.

If the market pulls back, the order triggers and you enter long at the trigger level (subject to slippage). If the market continues higher without pulling back, the order remains pending until you cancel it or its expiry passes.

The Stops Level Rule

Each instrument has a minimum distance from the current market within which a Buy Limit cannot be placed. This is called the stops level. It also applies to the Stop Loss and Take Profit of pending orders.

To check the stops level, right-click the symbol in the Market Watch window (Ctrl+M to open if hidden) and select Specification. The Stops level field shows the minimum distance in points. On 5-digit pricing, which is standard at TIOmarkets, 1 pip = 10 points.

If your Buy Limit's trigger price is closer to the current ask than the stops level allows, MT4 rejects the order placement. Other common rejection reasons include the trigger being on the wrong side of the market (above the current ask, which would mean the order would execute immediately and is therefore not a valid Buy Limit), the market being closed, or a connection issue with the server.

Verifying the Order

After successful placement, the Buy Limit appears in the Terminal Trade tab below your open positions, with its symbol, volume, open price (trigger price), SL, TP, and expiry. On the chart, the trigger price shows as a dashed line.

Modifying the pending order, such as changing the trigger price, SL, TP, or expiry, uses the right-click > Modify or Delete Order dialog. Cancelling the order is done via the same dialog (Delete button) or by right-clicking the dashed line on the chart and selecting Delete.

Buy Limit Orders on MT4 Mobile

The MT4 mobile app supports pending orders. In Quotes (the mobile Market Watch), tap the symbol and select New Order. Set the Type to Pending Order, choose Buy Limit, and enter the trigger price, Volume, SL, TP, and expiry. The same stops level rule applies on mobile.

Practical Considerations

Buy Limit orders do not consume margin until they trigger. The margin requirement only applies once the order becomes an open position. This means you can have multiple pending orders staged at different levels without tying up account margin in advance.

The maximum number of combined open positions and pending orders per client at TIOmarkets is 200. The maximum lot size per trade is 20.

Spreads on the underlying instrument fluctuate, so a Buy Limit's trigger condition may be met during periods of wider spread, which can affect the fill price. The trigger condition is based on the ask reaching the Buy Limit price; the fill is at the prevailing ask at that moment.

Demo accounts let you place pending orders without financial risk. Use the demo to confirm that your placement, modification, and cancellation workflow behaves as you expect before applying it on live trades.

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.