Stop Order on ETF didn't work

[Ricardo5]

I had a position on the Boost FTSE 100 3 x Leverage Daily ETP in my ISA account and created a STOP  order which was accepted and showed up in Orders but when the sell level dropped below the order level it didn't trigger. Am I dong something wrong or is this a problem.

It would also be nice to have a Stop order and a Limit order on the same position like you can in Spread Betting but it seems to be just one or the other.

[ArvinIG]

11 hours ago, Ricardo5 said:

I had a position on the Boost FTSE 100 3 x Leverage Daily ETP in my ISA account and created a STOP  order which was accepted and showed up in Orders but when the sell level dropped below the order level it didn't trigger. Am I dong something wrong or is this a problem.

It would also be nice to have a Stop order and a Limit order on the same position like you can in Spread Betting but it seems to be just one or the other.

Hi @Ricardo5,

It is likely that there was a slippage :
https://www.ig.com/au/glossary-trading-terms/slippage-definition

Your stop won't be triggered as the price level would have jumped over your stop.

If you need further assistance please reach out to helpdesk.uk@ig.com.

All the best - Arvin

[Ricardo5]

Arvin, thanks for your reply. I understand slippage but with a Stop Order on a Long trade, surely the order should take effect when the price is at the Stop Level or at any price lower than this. Otherwise the Stop Order would not give you the protection you want.

When slippage occurs it just means your trade is stopped at a worse price than you wanted.

In the trade referred to above I saw the sell price drop several points lower than the Stop Level and stay there for several minutes before going back above it when I ended the trade.

 

 

 

Ricardo

[ArvinIG]

11 hours ago, Ricardo5 said:

Arvin, thanks for your reply. I understand slippage but with a Stop Order on a Long trade, surely the order should take effect when the price is at the Stop Level or at any price lower than this. Otherwise the Stop Order would not give you the protection you want.

When slippage occurs it just means your trade is stopped at a worse price than you wanted.

In the trade referred to above I saw the sell price drop several points lower than the Stop Level and stay there for several minutes before going back above it when I ended the trade.

 

 

 

Ricardo

Hi @Ricardo5,

That is correct it would be at the stop level or lower. If your position was not closed while it should have been. Please reach out to helpdesk.uk@ig.com. The Helpdesk will have access to your order history to investigate on the matter.

To remove any risk of slippage the best option is a guaranteed stop : https://www.ig.com/uk/glossary-trading-terms/guaranteed-stop-definition

All the best - Arvin