How to Place and Close a Order in XM MT4

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
How to Place and Close a Order in XM MT4
How to Place and Close a Order in XM MT4
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
The minimum trade size for these accounts:
  • 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
Dont forget that your contract size directly affects your possible profit or loss.

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 Place and Close a Order in XM MT4

 

How to close Orders in MT4

To close an open position, click the ‘x’ in the Trade tab in the Terminal window.
How to Place and Close a Order in XM MT4
Or right-click the line order on the chart and select ‘close’.
How to Place and Close a Order in XM MT4
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.
How to Place and Close a Order in XM MT4
As you can see, opening and closing your trades on MT4 is very intuitive, and it literally takes just one click.
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