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Placing & Modifying Orders: IG vs MetaTrader

Updated 14 July 2026 · 8 min read · PipTax education

Placing and modifying orders on IG's platform vs MetaTrader is one of the first practical differences new traders hit once they've picked a broker — the underlying order types are similar, but the screens, terminology and workflows are not, and mixing them up under pressure can cost you real money. This guide walks through both, side by side, so you know exactly where to click before you're live with a position open.

Why the Platform Choice Matters Beyond Looks

It's tempting to treat platform choice as a cosmetic preference, but the order workflow genuinely affects execution speed, error rates and how confidently you manage risk.

• Muscle memory under pressure: in a fast market, fumbling for the right field on an unfamiliar ticket is how stop losses get placed wrong (or not at all).
• Order type availability: not every platform surfaces every order type in the same way — some pending order combinations are more explicit on MetaTrader, others are bundled into IG's own deal ticket.
• Automation: if you plan to run Expert Advisors (EAs), that's a MetaTrader-specific capability (MT4/MT5 via MQL), not something IG's native platform supports.
• Consistency across devices: web, desktop and mobile versions of the same platform don't always present order tickets identically — worth testing all three before relying on one.

None of this tells you which is "better" — that depends on your strategy, your need for automation, and your own comfort with each interface. What matters is deliberately learning one (or both) properly in a demo account first, rather than discovering the differences mid-trade.

Placing a Market Order: IG vs MetaTrader

Both platforms let you place a straightforward market order — buy or sell at the current price — but the ticket layout differs.

On IG's own platform: - You typically select the instrument, then open a deal ticket showing buy/sell prices, size, and optional stop/limit fields in one panel. - Stop and limit distances are often entered as a distance from the current price or as an absolute level, depending on the ticket view. - Confirmation usually shows estimated margin and the current spread before you commit.

On MetaTrader (MT4/MT5): - You open the order window (often via F9 or right-click on the chart), choose "Market Execution" (or similar), set volume in lots, and optionally attach SL/TP levels. - MetaTrader separates order *type* (market, limit, stop) via a dropdown, which is more explicit than some native platform tickets. - Confirmation happens via a single "Buy/Sell" button pair at the bottom of the ticket.

Practical tip: whichever platform you use, always check the stop-loss field is actually populated before you hit confirm — it's the single most common new-trader mistake on both.

Setting and Modifying Stop Loss and Take Profit

This is where habits really diverge between the two environments.

• IG's platform: stop loss and take profit are usually edited via the open positions panel — you click into the position, adjust the level or distance, and confirm. Some versions allow dragging directly on the chart too.
• MetaTrader: the classic workflow is dragging the SL/TP lines directly on the chart, then confirming the modification, or double-clicking the open position to bring up a modify dialog.
• Trailing stops: available on both, but configured differently — MetaTrader's trailing stop is typically set in points via the terminal, while IG's platform usually offers a distance-based setting in its position panel.

A quick comparison:

| Task | IG's Platform | MetaTrader | |---|---|---| | Open market order | Deal ticket, one panel | Order window, F9 shortcut | | Modify stop loss | Position panel edit | Drag on chart or modify dialog | | Pending orders | Ticket with order type toggle | Separate buy/sell limit & stop dropdown | | Automation | Not supported natively | EAs via MT4/MT5 (MQL) |

Working with Pending Orders (Limit and Stop Entries)

Pending orders — entering the market only if price reaches a certain level — are supported on both platforms but named and grouped slightly differently.

• MetaTrader explicitly separates: Buy Limit, Sell Limit, Buy Stop, Sell Stop, and on MT5 often Buy Stop Limit / Sell Stop Limit too. You pick the type from a dropdown before entering price and volume.
• IG's platform typically lets you set the order direction and type together in the ticket, with the platform inferring whether it's a limit or stop order based on the price you enter relative to the current market.
• Expiry settings differ too — MetaTrader lets you set a specific expiry date/time on pending orders; IG's platform usually offers similar options but check the exact wording in your account, as it can vary by product type (spread bet, CFD, or share dealing).

Because naming conventions aren't identical, it's worth placing a small pending order on a demo account on each platform once, just to see how your intended entry gets labelled and displayed in the order book.

Common Mistakes When Switching Between Platforms

Traders who use both IG's platform and MetaTrader — perhaps testing an EA on MT while managing discretionary trades on IG's own interface — tend to hit the same handful of errors.

• Wrong lot/size units: MetaTrader defaults to lots (1.0 = standard lot); IG's platform often lets you size in currency or contracts. Double-check before submitting.
• Assuming identical minimum stop distances: brokers set minimum distances for stops and limits, and these aren't guaranteed to match across platforms even at the same broker. Confirm current values with your broker.
• Forgetting EAs don't transfer: an Expert Advisor built for MT4/MT5 won't run on IG's native platform — if algorithmic execution is core to your plan, build it around MetaTrader from the start.
• Mixing up buy stop vs buy limit: a classic MetaTrader dropdown error — buy stop triggers *above* market, buy limit triggers *below*. Get this backwards and your pending order won't behave as intended.

Checking Costs Before You Commit to a Platform

Order workflow is only half the picture — the platform you choose can sit on top of different account types with different pricing structures at the same broker, or across brokers entirely.

• Spreads, commissions and overnight financing (swaps) can vary by account type, not just by platform.
• FCA rules cap retail leverage at 30:1 on major FX pairs, regardless of whether you trade via IG's platform or MetaTrader — this is a regulatory floor, not a broker choice.
• Never assume a MetaTrader account is cheaper (or pricier) than a broker's native platform account without checking directly.

Before opening a live account on either platform, run your typical trade size and instrument through PipTax's cost tool at /audit.html to see the real all-in cost, and compare regulated brokers on /brokers/index.html.

Conclusion: Practise the Workflow, Then Check the Cost

Placing and modifying orders on IG's platform vs MetaTrader ultimately comes down to two separate decisions: which interface you can operate quickly and accurately under pressure, and which account setup gives you the best genuine cost for your strategy. Spend time in a demo account on each, get the stop-loss and pending-order habits right, then use PipTax's cost tool and broker pages to confirm the numbers before you trade live — and remember that trading always carries risk of loss, whichever platform you choose.

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