Guaranteed Stop Orders
We’re delighted to now offer Guaranteed Stop Orders to our clients on our trading platform.
With Guaranteed Stop Orders you can trade safe in the knowledge that, should a market gap through your stop level, you will not suffer any extra losses from the slippage and you will be stopped out at the level you requested.
How to place a Guaranteed Stop Order
If a market is enabled for Guaranteed Stop Orders then it is possible to place one from the trade ticket. Simply tick the "Guaranteed" check box and just as with selecting how far away you wish your mandatory Stop to be, you can specify how far away you want your Guaranteed Stop Order to be. The system will only allow you to place a Guaranteed Stop Order at least the minimum distance away, which is shown in the brackets on the trade ticket above the tick box.
How to place a new order with a Guaranteed Stop
In the same way that you would place a new order you can now chose for your Stop on a new order to be guaranteed from the New Order ticket. Click on the "Order" button from the interface and tick both the “Stop” tick box and “Guaranteed Stop” check boxes.
You will be able to identify which type of Order/Stop is allocated to your positions in the Order Book. The orders that have a Guaranteed Stop Order associated with them will have a green “G” displayed next to the Stop text.
How to amend a Guaranteed Stop Order
You also have the ability to amend your normal automatic Stop and make it guaranteed (so long as the market is enabled for Guaranteed Stop Orders). Click on the “Order” button in Open Positions or the “Amend” button in the Order Book and in the “Amend Closing Order” window you’ll see a tick box for amending your Stop to make it guaranteed.
The level of a Guaranteed Stop Order can be amended as well. Remember though, that they will only be able to be placed as close to your entry level of the current market price as the minimum distance allows. See our Market Information for details.
Please note that you are not able to attach a Guaranteed Stop Order to an open position if that particular market is closed.
As Guaranteed Stop Orders are a form of insurance against market gaps, they come at a small extra cost. Firstly, there’s a premium you have to pay for selecting your mandatory Stop to be guaranteed and secondly, it needs to be placed further away from your entry level than if it was a non-guaranteed Stop. When instructing us to attach a Guaranteed Stop Order to an existing open position, an opening trade, or a new order, we will charge a premium by executing a cash debit to your account. Opting for your Stop to be guaranteed will also recalculate the minimum distance away from your opening trade.
Further details of the premiums and minimum distances can be found by clicking on the “I” button on the trade ticket which will take you to the Market Information sheet.
At times, the market being traded will not allow Guaranteed Stop Orders to be placed. During these periods the check box will be displayed but it will be disabled. For example, a Guaranteed Stop Order cannot be placed on any market outside its normal market hours i.e. a UK share before 08:00 and after 16:30.