Find out how you can apply a guaranteed stop-loss order to your trades, and amend or cancel it should you choose to.
We've enhanced our risk management offering by adding a new type of stop-loss to the platform: guaranteed stop-loss orders (GSLOs). Attach a GSLO to a trade if you want 100% certainty that you will be closed out of that trade at an exact price, specified by you, regardless of market volatility or gapping.
Guaranteed stop-loss orders. GSLOs work the same as a regular stop-loss, except for a premium. They guarantee to close out trades at the price specified, regardless of the market volatility or gapping. This order execution type can be added to a trade by selecting the option in the stop-loss menu on the order ticket. GSLOs can only be placed during normal trading hours and must be placed a minimum distance away from the current market price. GSLOs are not available on all products. Check the product overview module to see if the GSLOs can be placed on a particular product.
When placing a GSLO, the margin required will be equal to the total amount at risk, and is referred to as prime margin. Traditional stop-loss position margin is referred to as standard margin. As you're guaranteed to be closed out at our specified price, there is a GSLO premium charge for placing a GSLO. This cost is an amount based on the current market price and will be displayed at the bottom of the order ticket in your account currency. GSLO details, such as minimum distance, premium, and maximum position limits, can be viewed in the trading and position limits section of the product overview module.
Trades with a GSLO attached are displayed in an aggregated area in the positions tab underneath trades placed using standard margin. You have the ability to close or adjust all standard margins positions, close all prime margin positions or close all positions for that product using the respective aggregated rows. Alternatively, you can close out each position individually. You can cancel a GSLO or switch to a regular or trailing stop-loss order at any time. Outside of trading hours, you can only move the GSLO price further away from the current market price and not closer. Any modification is free of charge.
The account detail module displays how your account margin is calculated by showing the breakdown of standard and prime margin amounts. The account closeout level is displayed as either a standard closeout level or prime closeout level amount, depending on the makeup of your open possessions. To view how this value is calculated, please hover your mouse over the icon and the relevant percentages will be displayed. Here are some key points to consider when placing GSLOs.
GSLOs will always trigger off the level one price. You cannot customise the GSLO to trigger from the buy, set, or mid-price as you can with regular stop-loss orders.
You can go long and short on the same product at the same time with GSLOs attached if the account netting feature is disabled. You can have GSLOs applied as default. When loading an order ticket, set this up via order settings, and if you use the minimum margin, the default will equal the GSLO minimum distance. If GSLOs are not available on a particular product, no default will be added to the order ticket.