Forex Trading Tips and Reviews

If I Open a trade in forex, Does it mean I’m creating a “market order”?

I’m a newbie in forex trading, just downloaded a broker platform and doing demo/practice account.
There I see option called “open trade” and also called “create order”. I’m confused that whether in order to open a position shall I click “open trade” or “create order” because what I learned from forex tutorials is that in order to buy or sell instantly, you should create a “market order”, but in my demo practice account trade is opened by just mere clicking on “open trade”, so I wonder what role plays the “create order”

Hi,

firstly generally,

Market order means to buy / sell at current price

buy limit order means to buy at the limit price or lower.

sell limit order means to sell at the limit price or higher.

Are you using MT4?

Anyway since you are doing DEMO, why don’t you experiment?

If it is a market order, you will see your order appear in the chart at the current price.

Pending orders will requrie you to specify a entry price and if you place it, it will appear at the price you specified.

If you are new to forex, you can visit my blog where i write articles for newbies.

Hope i helped!

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