If your Forex broker use “Market Execution” for MT5 platform, the broker makes a decision about the order execution price without any additional discussion with a trader.

Sending an order in such a mode means advance consent to its execution at this price.

There are two types of execution models on MT4 which are “Instant Execution” and “Market Execution”.

This “Market Execution” model is used by STP(Straight Through Processing) brokers, and “Instant Execution” is mainly used by OTC brokers and CFD transactions.

On the other hand, MT5 has 4 different execution models available, which are:

• Instant Execution
• Market Execution
• Request Execution
• Exchange Execution

The execution models above cannot be chosen by users of MT5, but it is decided by your Forex broker.

In order to find out which execution model is used for Trading account, right click on the “Market Watch” window and select “Symbol”. Then refer to the field below.

For the list of MT4 and MT5 brokers, please visit the page below.

List of Forex Brokers