Stops, Limits & New Orders

As a general note, please be aware that all orders placed or executed on the FinancialSpreads.com trading system are “our quote”.

Stop-Loss Orders

A ‘Stop-Loss Order’ is the method used to limit the losses on an individual bet. It literally means ‘when the loss on a bet reaches the point where I no longer wish to risk any more money then close me out of my bet’ (or ‘Stop’ me out).

FinancialSpreads.com automatically apply a stop-loss to every new bet;

You can amend your Stop-Loss and add a Limit Order right after your trade has been confirmed.

When you click on the Orders button above, you will see this new ticket:

If you do not amend your stop-loss level right after you’ve traded, your stop-loss will be based on 80% of the funds available in your account or it will be set at 80% of the Max CGSL (maximum computer generated stop-loss). Details of the Max CGSL for each product can be found in our market information or if you click here.

On accessing the ‘Orders’ area on the trading screen you will be able view all the current Stop-Losses and Limit Orders that are running against your open positions.

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Viewing Your Stop-Loss, Limit Orders and New Orders

You can find details of all stop-losses, Limit Orders and New Orders if you click on the Order Book button when you are logged into your account.

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Amending your Stop-loss and other Orders

If you wish to amend the level of your orders, simply click on the ‘Amend’ button next to the relevant order and then change the price in the ‘Level’ field.

You can also add a Limit Order at this stage by clicking on the Amend button next to the Stop-Loss associated with your bet.

Stop-losses cannot be cancelled – they can only amended.

Every market has a minimum distance from the current price at which any Stop will be accepted. You may move the stop further from the current market price provided your account has sufficient funds to do so – the system will not permit you to move your stop level beyond such available margin.

When a position is closed, the stop-loss relating to that trade will be automatically cancelled and you will receive an email to confirm this.

All Stops are effectively Good Till Cancelled ‘GTC’

Please note, Stops are not guaranteed and no stop/order will be filled outside our quoting hours. If you are unsure of our quoting hours, please refer to the Product Information sheet.

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New Orders

A “New Order” is an order that is not attached to any existing bet and is independent of any other instruction. A New Order is used to open a new bet at a level in the market, which has not yet been reached.

A ‘New’ order is different from a ‘Limit’ order because a ‘Limit’ order is cancelled when the relevant position to which it applies is closed.

The ‘New’ Order functionality is useful for placing orders at critical market points so that you do not have to be watching the markets every moment of every day to ensure that you do not miss an opportunity.

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Creating a New Order

To create a “New Order” go to the product of your choice and click on the ORDER button:

Once you’ve clicked on the Order button, this ticket will appear:

When you click on the “If Done” button, this ticket will appear:

Use this ticket to add a stop-loss level of your choice and a Limit Order, if you wish.

To place a New Order you must have available funds when the trade is executed. If, when the system flags your New Order, you do not have your stake multiplied by the minimum IMR (Initial Margin Requirement) your New Order will be cancelled.