Does limit order prevent slippage?
In MT4 and MT5, limit orders allow you to set your pending orders below the current price for a buy and above the current price for a sell, but they won't guarantee an entry price or limit it. This is because the pending limit orders are executed at-market once triggered, so market slippage is still possible (both positive and negative). Our limit orders work this way due to client preference, where it has been generally preferred in our experience to execute at market rather than to execute as a pure limit order, which can mean trade rejections, partial fills and missed trades.