Place market order on the Depth of Market
Orders (PC)
Orders (PC)
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On MetaTrader4 (MT4) / MetaTrader5 (MT5), you can quickly place orders on the Depth of Market window. Also, some brokers are providing the depth of market data on MT5. Please note that if you wish to place an order from the Depth of Market window, you must have one-click order enabled.(*1)
Related article: Enable one-click trading
Here we will look at how to place market orders on the Depth of Market window on MT4/MT5.
Switch between MT4/MT5 tabs to check the steps for each.
(*1)On MT4, the depth of market data is not available. The Depth of Market window only serves as a scalping tool.
Step 1
Set the trade volume in lots on the Depth of Market window. Type the volume or use the ▼▲ marks on both sides. You can also set stop-loss (S/L) and take-profit (T/P) values by specifying the deviation from the current price in points.
Related article: Open Depth of Market
The data is not displayed on MT4
On MT5, some brokers provide the depth of market data, or the real-time numbers of orders placed by other traders. On MT4, on the other hand, this feature is not available. The Depth of Market window still can be used as a scalping tool.
Step 2
Click "Sell" to place a market sell order, or "Buy" for a market buy order. The bid price will be applied for the former, and the ask price for the latter.
Step 3
Once the trade is executed, the order details will be added to the "Trade" tab of the Terminal.
Step 4
To close a position at the market price using the Depth of Market window, click "Close." If multiple positions exist for the instrument, they will be closed in chronological order, starting with the oldest.
Step 5
The position closed can be viewed in the "Account History" tab of the Terminal.
Step 1
Set the trade volume in lots on the Depth of Market window. Type the volume or use the ▼▲ marks on both sides. You can also set stop-loss (S/L) and take-profit (T/P) values by specifying the deviation from the current price in points.
Related article: Open Depth of Market
You can order even if the data is not displayed
If your broker does not provide the depth of market data, it will not be displayed in the Depth of Market window. Placing orders is still available on the window with the same steps.
Step 2
Click "Sell" to place a market sell order, or "Buy" for a market buy order. The bid price will be applied for the former, and the ask price for the latter.
Step 3
Once the trade is executed, the order details will be added to the "Trade" tab of the Toolbox.
Step 4
To close a position at the market price using the Depth of Market window, click "Close." If multiple positions exist for the instrument, they will be closed in chronological order, starting with the oldest.
Step 5
The position closed can be viewed in the "Account History" tab of the toolbox.
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