Market orders are Executed or implemented immediately at the current Market price. They are the most basic type of order and are often used by traders who want to enter or exit the market quickly.

Pending orders are not executed immediately. Instead, they are placed in the order book and  only be executed or traded if the market price reaches a certain level. There are several types of pending orders, including:

• Limit orders:

 These orders are executed when the market price reaches a certain level. For example, you could place a limit buy order to buy EUR/USD at 1.1200. This order will only be executed if the price of EUR/USD reaches 1.1200.

• Stop orders: 

These orders are executed when the market price reaches a certain level. However, unlike limit orders, stop orders are used to exit a trade. For example, you could place a stop sell order to sell EUR/USD at 1.1100. This order will only be executed if the price of EUR/USD falls to 1.1100.

• Stop-loss orders: 

Stop-loss orders are a type of stop order that is used to protect profits or limit losses. For example, you could place a stop-loss sell order to sell EUR/USD at 1.1100. This order will only be executed if the price of EUR/USD falls to 1.1100, which will help you to limit your losses if the market price continues to fall.

• Take-profit orders:

  Take-profit orders are a type of limit order that is used to lock in profits. For example, you could place a take-profit buy order to buy EUR/USD at 1.1200. This order will only be executed if the price of EUR/USD rises to 1.1200, which will help you to lock in your profits if the market price continues to rise.

The type of order that you use will depend on your trading strategy and your risk tolerance. In forex trading, market orders are the basic type of orders and are commonly used by traders who want to enter or exit the market faster. Pending orders give you more control over your trading, but they can also be more risky.