A market order is the simplest type of order - it executes at the rate available when it reaches OANDA.
Placing a new market order on MT4
This guide explains how to place a new market order in MT4.
A market order is the simplest type of order, and it is executed at the rate available when it reaches OANDA.
How to place a new market order on MT4
To place a new market order on the MT4 platform, left-click on “New Order” in the top left of the screen. This will open the “Order” window.
In the order screen, select or enter the following: “Symbol”, “Volume”, then select “Market Execution”.
The trade size is specified in lots:
- For FX, 1 lot = 100,000 currency units.
- For CFDs, 1 lot = 1 trading unit.
After entering the details, click either “Sell by Market” or “Buy by Market” at the bottom of the screen to place the order.
You can also set take-profit and stop-loss orders simultaneously when placing the market order.
To do this, enter the take-profit and stop-loss levels in the “Order” window.
