A pending order is an instruction to open a trade automatically once the market reaches a specific price level, rather than executing immediately at the current market price. Common pending order types include Buy Limit, Sell Limit, Buy Stop, and Sell Stop, and they are often used to enter trades at planned levels.

 

The distance at which you can place a pending order is determined by the instrument’s Stop Level. This is the minimum number of points or pips required between the current market price and your pending order price. Stop Levels vary by instrument and market conditions.

 

You can check the exact Stop Level for each instrument in the Product Specifications on your MT4/MT5 platform. If a pending order is placed too close to the current price, the platform may reject it.