A market order is an instruction to open a position at the current market price.
There are many ways to place a market order in the MT5 terminal.
If you like to execute an order(open a position) at the current market price, but not pending order, please refer to following 5 methods to do it.
1. Click on the “New Order” button on the “Standard” toolbar
This may be the most classic way to open a new position.
By clicking on the “New Order” button as below, another order screen will appear where you can select the symbol, trading volume, parameters for SL/TP etc.
2. Select “New Order” from the “Tools” drop-down menu
By clicking on the option, the standard order window will pop-up.
It is the same window as the first one.
3. Press F9
If you are used to it, you can also type “F9”, then the order window will pop-up.
For your information, the order windows looks like below.
4. Right-click an instrument in the “Market Watch” window and select “New Order”
If you already know the specific financial instrument which you like to trade, you can go to MT5’s “Market Watch” and right-click on it, and select “New Order”.
In this way, the same new order window above will pop-up.
You can also Double-click an instrument in the “Market Watch” window to do the same.
5. One-click trading
This “One Click Trading” function can be used on each price chart directly, and you can place an order(long and short) by just clicking the button.
The order will be executed at the market price with no other parameters set(such as pending orders).
The number at the center shows the trading volume in lot.
To enable this function, you need to type “Alt+t” in a price chart, then the “One Click Trading” board will appear at the upper left side of the chart.
You may also set stop-loss and take-profit levels. You may then click “Sell by Market” to open a short position, or “Buy by Market” to open a long position.