What is a pending order?

A pending order is a forex order to be executed at a later time. The trade will be executed when the asset re-opens for trading, reaches a predetermined price, or at a certain time.

A pending order will be created when a trade is opened in advance. The trade will be completed once the criteria are met. Expect some slippage.

Slippage refers to all situations in which an investor receives a different trade execution price than intended. Slippage occurs when the price changes between the time a trade order is requested and the time the order executes.

If you create a pending order when the asset is closed the order will be executed at the beginning of the trading session at the opening price.

If you create a pending order for an asset at a specific price the order will be executed when the price is reached. There may be some slippage as the trade is executed since prices change constantly.

If you create a pending order for an asset at a specific time the order will be executed when the time is reached.