Stop Buy/Sell Limit Orders on New Platform for both Spreadbetting & ISA's... Please

[ST]

Could you please add stop buy/sell limit order on the new platform for both ISA's and spreadbetting please.

 

As much as I would like too, I very rarely place stop orders because of the risk of a being filled at an unfavourable price. In particular, a price outside of one's risk parameters. This can occur when a stock gaps up/down or moves quickly through the stop order price and is filled at a much higher/lower price. This prohibits anyone with prudent risk management from trading a breakout or breakdown strategy trading set up when not being at their computer/mobile device or doing other tasks.

 

The idea is that an upper/lower limit is put on the buy/sell stop order price respectively in which one is prepared to trade. The range of prices between the stop and stop limit order increases the likelihood of a fill in a fast moving market. It also eliminates the prospect of being filled on a gap up/down on a price far beyond one's risk parameters. 

 

The normal configuration for this type of order is for the stop buy/sell limit order to be set with the stop buy limit/stop sell limit order and the good till canceled stop loss order. That would just require an addition of a stop buy limit and a sell limit order to the existing spreadbet ticket.

 

Anyone interested in this feature please let it be known below.

 

Thanks

 

 

   

[Guest ChrisWa]

Thank you for your post!

 

Looking at your request, we do have the option to place a stop buy/sell limit order. However this is not currently possible on the new or the classic web trading platform.

 

We do, however, offer this type of order on our L2 Dealer platform. This is a more advanced platform that allows for more advanced order control.

 

I am happy to pass on your feedback to our developers to add this to the new trading platform, for the moment please see the L2 Dealer platform. Link provided below:

 

https://www.ig.com/uk/l2-trading-platform

 

If you have any further questions please don’t hesitate to ask.

 

Chris

[ST]

Thank you for your reply on this matter Chris, I do intend to take a look at the L2 offering when I get time.

[ST]

Chris,

 

I have just been over to the link you provided for the L2 platform. Unless I have missed something it only mentions CFD's and shares in your share dealing service being tradable on the L2 platform? My enquiry related to Spreadbetting and ISA's, kindly see the title?

 

Please advise.

[Guest Ronconomics]

I was looking to just this today too on a closed market

[invest-h-home]

hi chris IG, I hold share dealing account, why there is no stop loss? Surely now IG has started to charge custody fee, can they improve their platform by adding a proper stop loss. Please do not suggest other methods like using alerts etc., as when  an alert come at 3am regarding an Australian stock I will be sleeping! A proper stop loss for all international and UK stocks is a basic but essential tool in share dealing; cannot believe IG does not provide such a tool. Also why research and information on all stocks are so poor please improve???