Close a position at market price

Orders (PC)

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On MetaTrader4 (MT4) / MetaTrader5 (MT5), unlike limit orders, you can't specify a price when placing market orders because market orders use the current rate. The order gets executed as soon as it reaches the market, so the order will go through faster than a limit order.

Here we will look at how to close an open position on MT4/MT5.

Switch between MT4/MT5 tabs to check the steps for each.

Step 1

There are four ways to close a position at market price: the "X" button in the Terminal, the Terminal menu, the chart menu, or double-clicking on the chart. Each method allows you to either simply close a position or specify the details of the closing order, or both.

Close a position from the "X" button in the Terminal

Click the "Trade" tab of the Terminal and then click the "X" button to the right of the position you wish to close. The position will be closed immedeiately if the one-click trading is enabled.

Close a position from the menu in the Terminal

Click the "Trade" tab of the Terminal and double-click on the position you wish to close. You can set up the order details on the order window.

Or, right-click on the position you wish to close and select "Close Order". The position will be closed immedeiately if the one-click trading is enabled.

Right-click on a position to open the menu

Close a position on the chart menu

Right-click on the dotted line on the chart which indicates a position and select "Close". The position will be closed immedeiately if the one-click trading is enabled.

Close a position by double-clicking on the chart

Double-click on the dotted line on the chart which indicates a position. You can set up the order details on the order window.

Related article: How to show position on chart

Step 2

On the order window, enter the volume or other values and click "Close by Market".

Close a position partially by modifying volume

The volume on the order window is the total volume of the selected position by default. To partially close a position, edit the volume.

Step 3

Once the order is executed, the order details will be shown in the "Account History" tab of the Terminal.

Step 1

There are four ways to close a position at market price: the "X" button in the Toolbox, the Toolbox menu, the chart menu, or double-clicking on the chart. Each method allows you to either simply close a position or specify the details of the closing order, or both.

Close a position from the "X" button in the Toolbox

Click the "Trade" tab of the Toolbox and then click the "X" button to the right of the position you wish to close. The position will be closed immedeiately if the one-click trading is enabled.

Click the Trade tab of the Toolbox and double-click on the position you wish to close

Or, right-click on the position you wish to close and select "Close". Again, the position will be closed immedeiately if the one-click trading is enabled.

Close a position on the chart

Double-click on the dotted line on the chart which indicates a position.

Related article: How to show position on chart

Or, right-click on the dotted line on the chart which indicates a position and select "Close". The position will be closed immedeiately if the one-click trading is enabled.