Guaranteed stop-loss orders (GSLOs) are a premium risk management tool that provides protection against large losses caused by gapping and slippage. Below we review the best GSLO brokers plus their features and costs.
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| Broker | Our Rating | Regulation | Standard EUR/USD Spread |
Standard GBP/USD Spread |
Standard AUD/USD Spread |
Raw EUR/USD Spread |
Raw GBP/USD Spread |
Raw AUD/USD Spread |
Commissions (USD Base) |
MetaTrader 4 | MetaTrader 5 | cTrader | Execution Speed | Minimum Deposit | Currency Pairs | Crypto CFDs | Retail Leverage | Prof. Leverage | Read Full Review |
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Read review ›
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81 |
FCA, CIRO, ASIC MAS, JFSA, FSC-BVI KNF, NFA/CFTC, MFSA |
0.6 | 0.9 | 0.7 | - | - | - | - |
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- | $0 | 70+ | 4+ |
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Read review ›
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57 |
ASIC, CySEC, MAS FCA, FMA, DFSA EFSA, FSA, FSCA |
1.70 | 2.3 | 1.4 | - | - | - | - |
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140ms | $100 | 71+ | 15+ | 30:1 | 300:1 |
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Read review ›
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71 |
ASIC, FCA, BaFin FINMA, NFA/CFTC, MAS CySEC, DFSA, FMA JFSA, BMA, FSCA |
1.13 | 1.66 | 1.01 | 0.16 | 0.59 | 0.29 | $6.00 |
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174ms | $450 | 100+ | 12+ | 30:1 | 200:1 |
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Read review ›
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48 |
ASIC, CySEC FSA-S, FSC-BVI |
- | - | - | - | - |
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155ms |
$200 (Standard) $3,000 (Premium) $10,000 (VIP) |
62+ | 17+ | 30:1 | 500:1 |
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Read review ›
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69 |
ASIC, MAS, FCA CIRO, FMA, BaFin |
1.12 | 1.30 | 1.64 | 0.5 | 0.9 | 0.6 | $2.50 |
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138ms | $0 | 338+ | 19+ | 30:1 | 500:1 |
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A guaranteed stop loss (or GSLO) is an order type that guarantees you exit your trades at the exact price you specify. This also greatly reduces slippage as a result of market volatility. Not all brokers offer guaranteed stop losses but of the ones that do, we chose the best forex brokers for Australian traders.
Forex Panel Score
Average Spread
EUR/USD = 1.4
GBP/USD = 2
AUD/USD = 1.4
Trading Platforms
MT4, TradingView, OANDA Trade (fx Trade)
Minimum Deposit
$0
Why We Recommend OANDA
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 81/100 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.
Pros & Cons
Broker Details
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:
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).
Forex Panel Score
Average Spread
EUR/USD = 0.16
GBP/USD = 0.59
AUD/USD = 0.29
Trading Platforms
MT4, IG Trading Platform, L2 Dealer, ProRealTime
Minimum Deposit
$0
Why We Recommend IG Group
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.
Pros & Cons
Broker Details
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.
Forex Panel Score
Average Spread
EUR/USD = 1.7
GBP/USD = 2.3
AUD/USD = 1.4
Trading Platforms
Plus500 Trading Platform
Minimum Deposit
$100
Why We Recommend Plus500
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 1.7 pips on EUR/USD aren’t the lowest I’ve tested; the benefits of commission-free trading balance this out.
Pros & Cons
Broker Details
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 an Best Auto Trading Software 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.
Forex Panel Score
Average Spread
EUR/USD = 0.5
GBP/USD = 0.9
AUD/USD = 0.6
Trading Platforms
MT4, CMC NGEN
Minimum Deposit
$0
Why We Recommend CMC Markets
We think CMC Markets is a solid broker with the most forex pairs with over 330+ 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
Pros & Cons
Broker Details
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 9,500 financial markets, including 338 currency pairs.
For a premium, CMC Markets allows you to set guaranteed stop loss orders on specific CFDs.
The broker is not a high leverage forex broker 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.
Forex Panel Score
Average Spread
N/A
Trading Platforms
MT4, MT5, TradingView, easyMarkets Trading
Minimum Deposit
$200
Why We Recommend easyMarkets
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.
Pros & Cons
Broker Details
A Broker With Free GSLOs
easyMarkets is a top broker overseen by major regulators like ASIC for brokers 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:
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.
Forex Panel Score
Average Spread
EUR/USD = 0.7 GBP/USD = 1.1 AUD/USD = 2.2
Trading Platforms
MT4, TradingView, City Index WebTrader
Minimum Deposit
$150
Why We Recommend City Index
Broker Details
City Index 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:
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.
City Index’s Guaranteed Stop-Loss Orders
When placing a GSLO with City Index, 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. City Index offers the risk management tool on over 4,000 financial markets, examples of GSLO fees include:
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. City Index offers GSLOs when spread betting, with premiums being the same as when trading CFDs.
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 City Index
When signing up to City Index, 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 City Index and its trading platforms before signing up for a live account, a free demo account is available.
Our research shows that OANDA is the best broker offering guaranteed stop-loss orders. To use this GSLO with OANDA, you will need to use their OANDA Trade platform, which is available for Webtrader and as an app on Android and iOS mobiles.
We gave OANDA a perfect trust score of 100/100 and its plethora of high-quality training resources makes it a particularly excellent option if you are cutting your teeth as a new trader.
Besides offering a guaranteed stop loss, OANDA also features low commission-free spreads, $0 minimum deposits, the renowned MT4 trading platform, and its own proprietary platform – OANDA Trade – which we highly recommend.
A demo account is readily available for all OANDA’s trading platforms, which you can customise to your preferences and try out trading in a risk-free environment.
Guaranteed stop-loss orders (GSLO) are a risk management tool that protects your trading positions and limits your losses if a trade goes in the undesired direction.
They work by guaranteeing to exit a trade at the price you specify, regardless of how volatile the market is.
Unlike standard stop-loss orders that can suffer from slippage or gapping while the trade is executing, a GSLO protects you from both events and prevents your order from being filled at a worse price than the one you specified.
GSLOs are a great option for beginner traders who don’t mind paying a small fee in exchange for lower risk. Since the GSLO provides an extra layer of protection from large losses, it makes them especially valuable if you are not yet confident in mapping and analysing market fluctuations.
GSLOs are also helpful if you aren’t able to actively monitor market behaviour. By trading with a GSLO, you are assured that your position will be automatically closed out at the desired price without the need for you to monitor your open trading positions constantly.
Lastly, if you plan to trade with high leverage, a GSLO will protect you from the risk of potentially vast losses should your trades not go in a favourable direction.
Most brokers only charge a GSLO fee when the GSLO is actually activated. In other words, there is no cost to define the GSLO; you are only charged should the need to use the GSLO occur. This fee is known as the “GSLO premium.”
The cost of this premium is typically based on two things:
Brokers either include the GSLO in the spread or charge you in addition to the spread.
The exact cost varies among brokers, but it is generally considered a very small amount compared to the potential losses that the GSLO protects against.
Some brokers charge upfront for the GSLO premium. However, this is always refunded if the trade is executed without triggering the GSLO. Other brokers such as OANDA, only apply the GSLO premium if the GSLO is activated.
The key benefit of using a guaranteed stop-loss order is that you get a guarantee your trade will be executed at your specified price, regardless of any slippage or gapping.
Using a GSLO benefits you because you can have complete confidence you will get your desired price and do not need to worry about unexpected losses.
A standard stop-loss order means a broker will execute your order when the specified stop price is met. However, it does not guarantee you will get that price when the trade is executed.
A standard stop-loss means the broker only places your order on the market to exit your position at the specified price. This does not mean a buyer will be at your specified price, so you can still experience slippage or gapping.
In other words, your broker will “try” to exit at your preferred price, but they cannot guarantee it.
In contrast, a guaranteed stop-loss order means that your trade is guaranteed to exit at your specified stop price no matter what the market is doing when the trade is executed.
Standard stop-loss trades don’t incur any extra fees to execute. On the other hand, a GSLO commands an additional premium, but only if it is triggered during the trade’s execution.
A guaranteed stop loss isn’t the only risk management tool on offer. Here are some other types you may want to consider. Note that brokers may offer some, all, or none of these tools:
Negative balance protection ensures you don’t lose more money than you have deposited into your trading account should the market prices move in an undesirable direction.
With this protection, your broker will close your open positions and reset your account balance to zero.
Certain jurisdictions and regulators mandate that brokers provide negative balance protection, including the FCA and ESMA.
Hedging is an advanced risk-management strategy to control and minimise your exposure to risks in a volatile market. Essentially, the strategy uses one position to offset the risk of one or more other positions should the price move in an unfavourable direction.
It employs financial instruments such as options, futures, and derivatives and strategies such as diversification and short selling.
A micro account is an investment account that allows you to trade using micro lots. They are perfect for beginner traders ready to try “real” trading without risking much financially.
A micro lot consists of 1,000 units, thus allowing you to trade in smaller amounts and, therefore, take on less financial risk. Some micro accounts may also permit trading in 100-unit nano lots – the smallest available lot size.
A demo account offers a “sandbox” environment that simulates live trading as closely as possible, allowing you to practice trades without risking anything financially.
You get a virtual balance that you can use to try out trading strategies or gain familiarity with the various trading platforms.
Demo accounts are popular among beginner traders but can be just as valuable for experienced traders who want to experiment in a risk-free setting.
Gapping in forex trading refers to a significant price move in a currency pair when little or no trading occurs in between. For example, when the price opens above or below the previous day’s close.
Gapping typically occurs when the forex market is closed or when there is a substantial shift in the market.
Yes, a guaranteed stop-loss order (GSLO) will protect you from slippage.
The GSLO guarantees your trade is closed at your specified stop price, regardless of any market gapping or slippage that may take place during execution. That mechanism significantly improves your trading conditions at your CFD broker by protecting your capital from undesirable price movements and unexpected volatility.
Using a guaranteed stop-loss order can be highly beneficial if you are trading with leverage, especially if the leverage is high.
A guaranteed stop-loss order protects you from market volatility and slippage, where prices change rapidly, and you cannot exit your position, which may result in high losses. Using a GSLO ensure you can only lose what you are prepared to use.
A Guaranteed stop-loss order is a risk management tool that guarantees you exit your trade at a specified price regardless of market volatility.
In contrast, negative balance protection ensures a brokerage will close your open positions and set your account balance to zero should the market move unfavourably, resulting in your account balance being negative. Some regulators mandate negative balance protection for all retail clients.
Ask an Expert
Does Thinkmarkets have a guaranteed stop loss?
No, unfortunately they don’t. ThinkMarkets is a no dealing desk broker. You will find it is mostly market makers that have no dealing desk
Can I ask you which broker has the largest risk capital committed to guaranteed stop orders? I am using IG at the moment and I am hitting their limits for a single stop loss trigger at about £3,000,000 nominal. Many thanks.
Hi Mark, This isn’t something we have ever looked into, nor is it something we plan to look into. What we can suggest is that you hop onto a live chat with brokers and ask them directly.