Forex Brokers With Guaranteed Stop-Loss Orders

We highly recommend OANDA, especially for beginners, offering guaranteed stop-loss orders, low spreads, and accessible lot sizes which is why we gave them an 92/100 score.

With low average spreads of just 0.6 pips on EUR/USD and no commissions, OANDA ensures affordable trading. And if using the OANDA Trade platform you can enter partial lots giving you complete control of your orders along with a guaranteed stop loss.

A GSLO Broker With Account Type Options

OANDA is a global broker that operates in multiple major financial hubs around the world like the UK (FCA), Singapore (MAS) and Australia (ASIC).

The broker provides access to a wide range of financial markets including currency pairs, precious metals, bonds and soft commodities, as well as for cryptocurrencies like Bitcoin for those outside of the UK.

When trading forex, you can choose from two pricing structures:

• Premium Account: No-commission spreads starting from 0.6 pips.
• Core Account: Tight spreads from 0.1 pips + AUD $3.50 commission per side, per 100k traded.

GSLOs

When trading Forex and CFDs with OANDA, a basic stop-loss order is automatically applied to each order, yet a GSLO can easily be set on a new or existing order. If you have a hedged position (where you are both long or short at the same time) OANDA will not allow you to place a GSLO on that financial instrument.

There are no minimum deposit requirements to start trading with OANDA and you can choose between two trading platforms, the broker’s proprietary software (OANDA Trade) or MetaTrader 4 (MT4).

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OANDA only offers a GSLO to clients in Australia, the UK and selected other countries

StoneX Trading is a long-standing CFD and forex broker having been established in 1983. The brokerage firm is regulated by multiple top-tier regulators including the Australian Securities and Investments Commission (ASIC), the Monetary Authority of Singapore (MAS), and the Cyprus Securities and Exchange Commission (CySEC). The broker offers over 12,000 financial markets to trade, with guaranteed stop-loss orders available on 4,000 CFDs and spread betting financial products.

How Do You Use Guaranteed Stop Loss Orders When Trading Forex?

As trading complex instruments like CFDs comes with a high level of risk, order types can be a great risk management tool. Guaranteed stop loss orders (GSLOs) are a premium pending order type that traders use to maximise gains while minimising losses.

To understand how GSLOs work, it’s important to understand a few key forex trading terms:

• Market Orders are executed immediately at the current market price.
• Limit Orders allow you to set a maximum or minimum price for an order to be executed at. Limit orders will only be triggered when market prices reach the price you have specified.
• Gapping occurs when an asset’s price suddenly fluctuates from one price to another due to highly volatile markets. Gapping shows a sudden shift in market and trader sentiment and is commonly caused by major world events or political and economic news.
• Slippage refers to the difference between the expected price your order will be executed at, and the actual price is it executed at. If market conditions are volatile and gapping occurs, this can lead to positive or negative slippage when online trading.

How GSLOs Work

A regular stop-loss allows you to limit losses when markets move in an unfavourable direction, and although it is free, it is not guaranteed. If gapping were to occur with regular stop-loss, your trade could be filled at a different price than what you requested. This means that your order could be executed at a significantly worse price leading to potential losses.

With a guaranteed stop-loss order, your trade will be filled at the price requested, regardless of gapping. Due to the price guarantee that comes with GSLOs, most brokers charge a fee. The major benefit of GSLOs is they can protect you against large and fast fluctuations in market prices that can lead to gapping, as the price you specify on your GSLO is guaranteed regardless of market volatility and gapping.

StoneX Trading’s Guaranteed Stop-Loss Orders

When placing a GSLO with StoneX Trading, you pay no upfront cost and will only be charged a fee if the market price of the financial instrument you are trading reaches your GSLOs level. The broker charges a different GSLO premium depending on the market you are trading. StoneX Trading offers the risk management tool on over 4,000 financial markets, examples of GSLO fees include:

• Indices: ASX 200, Germany 30 and UK 100 = 1.5 x CFDs
• Currency Pairs: EUR/USD = 1.5 x CFDs, GBP/USD = 2 x CFDs, AUD/USD = 1 x CFDs
• Shares: Apple and Deutsche Bank = 0.25% of notional trade value
• Commodities: US Crude Oil = 4 x CFDs, Gold = 3 x CFDs, Silver = 2 x CFDs

GSLOs When Spread Betting

If you are a resident of the United Kingdom or Ireland, you are able to spread bet as an alternative to trading CFDs. While both forms of derivative trading, spread betting offers tax advantages as it is exempt from capital gains tax (CGT) unlike CFD trading.

Only brokers regulated by the UK’s Financial Conduct Authority (FCA) can offer spread betting services to retail investor accounts. To find out more about spread betting in the UK and the best brokers fore spread betting.

It is worth noting that although you can spread bet in the UK, you are unable to trade cryptocurrency regardless of whether you are trading CFDs or spread betting. Recently, the FCA banned retail investor accounts from trading cryptocurrency due to the high-risk and volatile nature of the asset class.

Getting Started With StoneX Trading

When signing up to StoneX Trading, you are required to make a minimum deposit of $150 and only one trading account is available with forex spreads from 0.5 pips. In terms of trading platforms, you can choose between MetaTrader 4 (MT4) that is offered as a desktop platform and the broker’s proprietary web trader trading platform. Both trading platforms are available as mobile apps. If you want to try out StoneX Trading and its trading platforms before signing up for a live account, a free demo account is available.

Your capital is at risk ‘68% of retail CFD accounts lose money with StoneX Trading’

IG Groups WebTrader and mobile app trading platform come with a guaranteed stop loss (GSLO), with 17,000 products to trade there is no shortage of opportunities to use the GSLO. Some of the other features we like with this platform include 28 indicators, 4 timeframes per chart and pattern recognition to signal training opportunities.

Our spread testing found IG spreads are commission-free and average 1.13 pips for the EUR/USD pair.

The Limited Risk Account With Automatic GSLOs

IG is London based broker that operates in 16 counties worldwide, listed on the London Stock Exchange and overseen by various regulators such as MAS in Singapore, the CFTC and NFA in the United States, BaFin in Germany and ASIC in Australia.

As well as commission-free spreads starting from 0.6 pips on major currency pairs, the broker provides access to a range of financial markets such as commodities, indices and interest rates. When trading forex and CFDs with IG the cost of GSLOs varies between financial instruments. You are only charged if the stop order is triggered.

IG is a popular broker among traders wanting the option of GSLOs because as well as allowing you to attach GSLOs to individual trades, you can switch your CFD trading account to a limited risk account where stop orders are set with every order.

Limited Risk Account Type

After you sign up to an IG trading account, you can switch to a limited risk account type that will automatically add GSLOs to all the orders you place when trading forex and CFDs. If you change to a limited risk account, you cannot use other stop orders such as trailing stop losses. The account type is ideal for beginner traders because as well as automatic GSLOs, it ensures you cannot lose more than the initial deposit that is required to open each trade.

When setting up your IG trading account, no minimum deposit is required if you are depositing funds via bank transfers, while €300/$300/£300 is needed if you are using credit cards, debit cards or PayPal.

Two trading platforms are available, MetaTrader 4 (MT4) and IG’s own platform. If you are new to trading, the broker’s proprietary platform offers an easy-to-use interface, while experienced traders can develop algorithmic trading strategies on MT4.

We think CMC Markets is a solid broker with the most forex pairs with over 283 markets, more than IG Group. You can access these pairs through the Next Generation (NGEN) platform (CMC’s proprietary platform), which is user-friendly and packed with useful features like guaranteed stop-loss orders and market scanners.

If you focus on currency trading, the average spreads for the major pairs are low, averaging 1.35 pips, better than the industry average of 1.52 pips

A Worldwide GSLO Broker

CMC Markets is an online broker that’s listed on the London Stock Exchange and holds licences issued by major financial authorities like IIROC (Canada), FMA (NZ) and Singapore (MAS) among others. Established in 1989, the long-standing broker offers access to over 12,000 financial markets, including 283 currency pairs.

For a premium, CMC Markets allows you to set guaranteed stop loss orders on specific CFDs.

• You can cancel or swap to a regular stop loss at anytime free of charge.
• You pay the GSLO premium when you place the order, but if it is not triggered, cancelled or swapped to a basic order type the fee will be refunded.
• The broker allows you to set GSLOs as your default order type.

The broker is not a High Leverage Forex Brokers due to regulator bodies like the FCA and ASIC limits of 30:1 on currency trading. To trade CFDs with CMC Markets you can use either MetaTrader 4 or the broker’s popular proprietary trading platform, Next Generation.

We recommend easyMarkets for their unique offering of free Guaranteed Stop Loss Orders (GSLOs) on every trade. This feature usually comes with a premium fee elsewhere but is already included in the spread with easyMarkets. For this reason, easyMarket can promise no slippage. To use the GSLO you will need to use the easyMarkets trading platform.

easyMarkets has some of the lowest fixed spreads in the industry, starting at just 0.8 pips on EUR/USD. This combination of free GSLOs and low fixed spreads makes easyMarkets a standout choice, especially if you want to minimise your costs and risks.

A Broker With Free GSLOs

easyMarkets is a top broker overseen by major regulators including ASIC in Australia and CySEC in Cyprus. Six asset classes are available to trade with brokers including currency pairs, commodities, metals, indices, cryptocurrency and share CFDs.

Free GSLOs

Unlike most forex brokers, easyMarkets offers guaranteed stop-loss orders completely free of charge. If you are a beginner trader and planning on attaching GSLOs to every trade, easyMarkets is a good option as you can manage the high risk of trading at no additional cost.

As well as free GSLOs, the broker also provides other risk management tools for a premium, such as:

• dealCancellation: Allows you to cancel your order within 1, 3 or 6 hours if financial markets start moving against you.
• Freeze Rate: enables you to freeze the market price you see, giving yourself a few seconds to set up and execute your trade.

When setting up your trading account, you will be able to choose from three commission-free account types on both the broker’s proprietary trading platform and MetaTrader 4.

• Standard Account: No commission spreads from 1.9 pips with a low minimum deposit of USD $25 required.
• Premium Account: Forex spreads from 1.4 pips with no commission fees, minimum deposit of USD $2,000 required.
• VIP Account: Commission-free spreads from 0.9 pips, a high minimum deposit of USD $10,000 is needed.

We liked Plus500 for its top-notch trading app if you need a reliable app on the move. The app is user-friendly, and switching between marks is instant, while some other apps can freeze when switching. Plus, the broker offers guaranteed stop-loss orders, protecting you from unexpected price movements, which is a big plus.

The average spreads of 0.8 pips on EUR/USD aren’t the lowest I’ve tested. However, the benefits of commission-free trading (other fees apply) balance this out.

A GSLO CFD Provider

Plus500 is a global CFD provider that is overseen by major financial authorities like the FCA, CySEC, ASIC and FMA (NZ). As well as top-tier oversight, the Plus500 is a public company listed on the London Stock Exchange and part of the FTSE 250.

When developing trading strategies with Plus500, you can place basic order types like regular stop losses and trailing stops as well as guaranteed stop-loss orders (GSLOs) to help manage the high risk of trading.

When trading with Plus500, you can only use GSLOs with Plus500 when you are opening a new position or pending order, with no option to modify existing positions. Similarly, you cannot remove a GSLO once it’s been added.

After opening a trading account and making a minimum deposit of $100, you can trade a range of asset classes as CFDs like shares, currency pairs, indices and options.

Plus500 doesn’t offer Automated Trading Platforms or other advanced features. If you are trading forex, you can access no commission spreads and the CFD providers proprietary trading platform. The software is available on a desktop or WebTrader platform or as mobile trading apps for iOS and Android devices.

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*Plus500 disclaimer: CFD service. Your capital is at risk. 76% of retail CFD accounts lose money.’