When placing a pending order, Stop Loss (SL), or Take Profit (TP), the price must be set a minimum distance away from the current market price.

On MT4 and MT5, this requirement is known as the Stop Level.

The minimum distance varies by instrument and is designed to ensure that orders are placed at realistic and executable price levels. Orders placed closer than the required distance may be rejected by the platform.

What Is a Pending Order?

A pending order is an instruction to open a trade automatically when the market reaches a specified price in the future.

Common pending order types include:

• Buy Limit
• Sell Limit
• Buy Stop
• Sell Stop

Like Stop Loss and Take Profit orders, pending orders must comply with the minimum distance requirements for the selected instrument.

What Is the Stop Level?

The Stop Level is the minimum distance that:

• A pending order can be placed from the current market price.
• A Stop Loss can be placed from the current market price.
• A Take Profit can be placed from the current market price.

The Stop Level is determined by the trading conditions of each instrument and may differ between products.

How Do I Check the Minimum Distance?

MT4

1. Open the Market Watch window.
2. Right-click the instrument.
3. Select Specification.
4. Locate the Stops Level value.
   

MT5

1. Open the Market Watch window.
2. Right-click the instrument.
3. Select Specification.
4. Locate the Stops Level value.

The displayed Stop Level represents the minimum allowable distance for pending orders, Stop Losses, and Take Profit orders.

Why Was My Order Rejected?

Your order may be rejected if:

• The pending order is placed too close to the current market price.
• The Stop Loss is placed closer than the minimum permitted distance.
• The Take Profit is placed closer than the minimum permitted distance.
• The instrument's Stop Level requirements have not been met.

When this occurs, adjust the order price so that it complies with the instrument's minimum distance requirement and submit the order again.

Important Note

• The minimum distance for pending orders, Stop Losses, and Take Profits is known as the Stop Level.
• Stop Levels vary by instrument and may be different across products.
• Orders placed closer than the applicable Stop Level may be rejected by the platform.
• You can view the Stop Level for an instrument through the Specification window in MT4 or MT5.

• The Stop Level applies to pending orders, Stop Loss orders, and Take Profit orders.

   

Need More Help?

If you need assistance locating the Stop Level for an instrument or are unable to place a pending order, Stop Loss, or Take Profit, please contact support@monetamarkets.com and provide:

• Your trading account number
• The instrument symbol
• The order type you are trying to place
• A screenshot of any error message (if available)

Providing these details will help us investigate the issue more efficiently.