Order types
All orders that are placed on MetaTrader 5 platform by AvaTrade Customers on any Exchange-Traded Futures Contracts are executed on the Regulated Exchanges, such as CME, EUREX, etc....

The MetaTrader 5 trading platform allows users to prepare and issue requests for the broker to execute trading operations. In addition, the platform allows to control and manage open positions. For these purposes, several types of trade orders are used. An order is an instruction of a client to conduct a trade operation. In the terminal, orders are divided into two main types: market and pending. Besides them there are ""Stop Loss"" and ""Take Profit"" orders.

Market order:
A market order is an instruction given by client to buy or sell a financial instrument. Execution of this order results in committing a deal at the “market price”. The price at which the deal is conducted is determined by regulated exchange order matching algorithm. Once order is filled, the exchange will report this deal details, such as the fill price and quantity, back to the client via the MetaTrader 5 terminal

Pending orders: A pending order is the trader's instruction to buy or sell a contract in future under pre-defined conditions.

Buy Limit order: A trade request to buy at the Ask price that is equal to or less than that specified in the order. The current price level is higher than the value in the order.

Buy Stop order: A trade order to buy at the ""Ask"" price equal to or greater than the one specified in the order. The current price level is lower than the value in the order.

Sell Limit order: A trade order to sell at the ""Bid"" price equal to or greater than the one specified in the order. The current price level is lower than the value in the order.

Sell Stop order: A trade order to sell at the ""Bid"" price equal to or less than the one specified in the order. The current price level is higher than the value in the order.

Buy Stop Limit order: This type combines the two first types being a stop order for placing Buy Limit. As soon as the Ask price reaches the stop-level indicated in the order (the Price field), a Buy Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set above the current Ask price, while Stop Limit price is set below the stop level.

Sell Stop Limit order: This type is a stop order for placing Sell Limit. As soon as the future Bid price reaches the stop-level indicated in the order (the Price field), a Sell Limit order will be placed at the level, specified in Stop Limit price field. A stop level is set below the current Bid price, while Stop Limit price is set above the stop level.

Additional Explanation of Orders:
For Exchange Contracts, Stop Loss and Take Profit orders are triggered according to the rules of the exchange where trading is performed.
Usually this will be by Last price (price of the last performed transaction in the exchange).
A take profit or stop loss order triggers when the Last price touches the specified take profit or stop loss price.
However buying or selling as a result of the activation of a stop-order is always performed by the Bid and Ask prices during the activation of the Stop order, which may differ from the Price specified by the trader.