A ‘Market order’ is an immediate order to ‘buy’ or ‘sell’ at the current price in the market. Depending on the market volatility and liquidity, this means that market orders can receive fills that are better, worse, or at the price requested. This type of execution also applies to all stop orders (stop loss, buy stop, sell stop, stop out).
Although most platforms use ‘market execution’ as default for the opening of orders, we do also have an MT4 Instant Execution account option, as well as an MT4 Fixed spread account with instant execution. An ‘Instant Order’ is an order to ‘buy’ or ‘sell’ at the requested price, and if this is not available, a requote will occur (offer of a new price, which can be accepted or declined).
We offer MT4 & MT5 accounts with Market execution, and MT4 and MT5 Raw & Elite accounts with Instant execution. Please note that for pending orders the execution is the same regardless of account type (i.e. all stop orders are executed with ‘market execution’ and all limit orders are executed with ‘limit execution’).