In the fast-paced world of forex and CFD trading, precision in order execution can be the difference between profit and loss. MetaTrader 5 (MT5), a leading multi-asset trading platform, provides traders with several powerful order types designed to suit different trading strategies and market conditions. With expert training and capital support from the best prop firms in the UK, traders can learn how to fully leverage these order types to maximize performance and minimize risk.

This article breaks down the types of orders in MT5 and explores how UK-based proprietary trading firms help traders master them effectively.

Understanding the Role of Order Types in MT5

MT5 offers a robust suite of market and pending order types, each serving a specific function. Mastery of these tools is essential for:

• Executing trades in line with strategy.

• Managing risk exposure precisely.

• Automating trading based on predefined market conditions.

Prop firms in the UK emphasize this knowledge in their training programs, helping funded traders avoid costly execution errors and trade more systematically.

Types of Orders in MT5: An Overview

MT5 supports the following key order types:

1. Market Orders

A market order is an instruction to buy or sell at the current market price. It is executed instantly and is used when immediate execution is more important than price.

Use Case:
A trader sees a strong breakout and wants to enter the market instantly.

2. Pending Orders

Pending orders allow traders to set entry prices in advance. These orders are only triggered when the market reaches the specified price.

There are 4 main types of pending orders in MT5:

a. Buy Limit

A buy order placed below the current market price, expecting the price to fall before rising.

b. Sell Limit

A sell order placed above the current market price, expecting the price to rise before dropping.

c. Buy Stop

A buy order placed above the current market price, used when expecting a bullish breakout.

d. Sell Stop

A sell order placed below the current market price, used when expecting a bearish breakout.

3. Stop Loss and Take Profit

Though not standalone order types, these are essential risk management tools used in conjunction with market or pending orders.

• Stop Loss: Automatically exits a trade at a predefined loss level.

• Take Profit: Closes a trade once a set profit target is reached.

How the Best Prop Firms in the UK Train Traders on MT5 Orders

1. Structured Education Programs

Leading UK prop firms such as FTMO UK, Audacity Capital, and The5ers UK division offer:

• Detailed MT5 platform tutorials.

• Simulated trading environments to practice order types.

• Interactive modules focusing on order logic and placement techniques.

2. Real-Time Mentorship

Traders at top UK prop firms benefit from:

• Live market walkthroughs showing where and how to use specific order types.

• Expert feedback on trades and order setups.

• Community support for troubleshooting MT5 features.

Strategic Use of Market vs. Pending Orders

Prop firms teach traders when to use market orders for immediacy and pending orders for precision and patience.

When to Use Market Orders:

• High-impact news trading.

• Strong breakout confirmations.

• Scalping opportunities with momentum.

When to Use Pending Orders:

• Technical setups with clear support/resistance levels.

• Trap setups (fakeouts) for reversal strategies.

• Anticipated pullbacks in trending markets.

By practicing these strategies with prop firm-funded capital, traders build discipline and reduce emotional decision-making.

Risk Management and MT5 Order Features

UK prop firms enforce strict risk protocols, which align well with MT5's built-in risk tools.

MT5 Features That Enhance Order Management:

• Trailing Stops: Automatically adjust stop-loss as the market moves in your favor.

• Order Modification: Traders can update price levels even after placing the order.

• Visual Order Lines: Allows for easy drag-and-drop SL/TP adjustments on charts.

Prop firms ensure traders use these features consistently to protect the firm’s capital and improve overall performance.

Performance Tracking and Review with MT5

Top UK prop firms also help traders:

• Review order history for performance analytics.

• Analyze order types used in profitable vs. losing trades.

• Identify behavioral patterns, like over-reliance on market orders or poor stop-loss placements.

This data-driven feedback loop allows traders to continuously improve.

Final Thoughts: Building Mastery with MT5 and Prop Firm Support

Understanding the types of orders in MT5 is foundational for any trader, but applying them effectively under real market conditions is what sets professionals apart. The best prop firms in the UK equip traders not only with capital but also with the education and mentorship necessary to master both market and pending orders.