To find out if your MT4 broker is Instant Execution or Market Execution, click “the New Order” button and look at the “Type” field. You will see there if your broker is Instant Execution or Market Execution.
This information is good to know because some EA’s use Instant Execution and some use Market Execution.
What is the main difference between Instant Execution and Market Execution?
With Market execution the order is opened without Stop Loss or Take Profit. The SL and TP is added or modified later.
Here is a list of my brokers and their types of execution:
ATC Brokers = Instant Execution
FinFx Brokers = Market Execution
Forex.com = Market Execution
ILQ Brokers = Instant Execution
MB Trading = Market Execution
Based on my brokers above tt appears that most are Market Execution.
What type of execution does your broker have?
Hope this information helps you.
Contact me if you have any questions or comments. Or you mayn just post your comments on my blog below.
Have a great year!