Forex glossary
Pending order (conditional order)
An instruction for a future purchase or sale once specified conditions are met. Order type and provider rules govern activation and execution.
Illustrative example
How does it work in practice?
In a hypothetical MT5 FX example, you place a EUR/USD buy limit at 1.0900 while ask is 1.1000 USD per EUR. While ask stays above the limit, this buy condition is unmet; placing the order alone does not open a position.
A case to work through
The price condition occurs too late
Model: validity ends at 16:00; the order expires then without a deal; price reaches its level at 16:05.
- Check the expiry timestamp and absence of confirmed deals.
- A later price move does not activate an already expired instruction.
What follows? Assess a replacement order as a new decision.
Example boundary: This uses the stated validity rule; platforms can offer other types.
A useful distinction
Pending order (conditional order) / Order execution
Execution creates a confirmed deal; a pending order can expire without one.
Check your understanding
Identify expiry without execution.
Show the answer and explanation
No
Validity ended at 16:00 in the stated model.
Orders, prices and execution quality
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Read the fuller explanation
Related terms
Sources and documentation
- MetaTrader 5: basic trading principles
Orders, deals and positions; FOK, IOC and partial-filling policies.
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The example illustrates the mechanism. Check current account conditions and instrument specifications with the provider.