How to Place and Close a Order in XM MT4
How to place a New Order in XM MT4
Right click the chart , Then click “Trading" → select “New Order".Or
Double click on the currency you want to place an order on MT4. The Order window will appear
Symbol: check the Currency symbol you wish to trade is displayed in the symbol box
Volume: you must decide the size of your contract, you can click on the arrow and choose the volume from the listed oprions of the drop-down box or left click in the volume box and type in the required value
- Micro Account : 1 Lot = 1,000 units
- Standard Account : 1 Lot = 100,000 units
- XM Ultra Account :
- Standard Ultra: 1 Lot = 100,000 units
- Micro Ultra: 1 Lot = 1,000 units
- Shares Account :1 share
- Micro Account : 0.1 Lots (MT4), 0.1 Lots (MT5)
- Standard Account : 0.01 Lots
- XM Ultra Account :
- Standard Ultra: 0.01 Lots
- Micro Ultra: 0.1 Lots
- Shares Account :1 Lot
Comment: this section is not obligatory but you can use it to identify your trades by adding comments
Type: which is set to market execution by default,
- Market Execution is the model of executing orders at the current markets price
- Pending Order is used to setup a future price that you intend to open your trade with.
Finally you need to decide what order type to open, you can choose between a sell and a buy order
Sell by Market are opened at bid price and closed at ask price, in this order type your trade may bring profit if the price goes down
Buy by Market are opened at ask price and closed at bid price, in this order type your trade may bring profir It the price goes up
Once you click on either Buy or Sell, your order will be instantly processed, you can check your order in the Trade Terminal
How to close Orders in MT4
To close an open position, click the ‘x’ in the Trade tab in the Terminal window.
Or right-click the line order on the chart and select ‘close’.
If you’d like to close only a part of position, click the right-click on the open order and select ‘Modify’. Then, in the Type field, select instant execution and choose what part of the position you want to close.
As you can see, opening and closing your trades on MT4 is very intuitive, and it literally takes just one click.
