Force guaranteed stops?

[Lenny]

Hi,

I just started trading and found my first trade blocked because it had guaranteed stops.

I can't seem to turn off guaranteed stops on my live account, but the demo account doesn't have this restriction.

Is there a way I can remove it so I can place my trade?

Thanks

[HannahL]

Hi Lenny, thanks for the post!

 

It sounds like your account has been set up as a Limited Risk account, which means that you are obliged to use guaranteed stops on any trade, in order to fully manage your risk.  Most markets permit guaranteed stops (controlled risk), but certain ones cannot have them attached - such as more volatile or less liquid markets - and as such you might find that you are unable to place some positions.

 

If you would like to discuss the possibility of changing your account type to one which does not enforce guaranteed stops, our New Business team would be happy to talk about this with you.  You can reach them on 0800 195 3100.

 

If you have any more questions about account types or controlled risk just let us know!

 

Thanks,

Hannah

[Lenny]

Thanks Hannah,

I'm not sure why that would have been, I certainly didn't ask for it, so I guess I'll see how much this prohibits my trading and then call if it's preventing me doing anything useful.

Andy

 

[svparker1]

Hi there

 

I have also just set up an avcount and IG have imposed a 1.5 point stop obn the account.

what will this mean exactly

please an example say on audusd pair would be great - if its what im thinking then this is way too tight for any trading that I can see as FX bounces around all the time.

 

thanks in advance - again - little info on website

[JamesIG]

Hi  thanks for your message. 

 

All assets will have a minimum 'Guaranteed Stop' distance, as well as a minimum regular stop distance. These are not the levels you need to have your stop at, but are simply the closest you can have your stop at. If you would like to place your stop further away then there is no problem with this, please simply just increase your stop distance (providing you have sufficient funds to cover your trade). 

 

I hope this clarifies things for you.