Jump to content
  • 0

Stop Order on ETF didn't work


Ricardo5

Question

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.

Link to comment

3 answers to this question

Recommended Posts

  • 0
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

Link to comment
  • 0

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

Link to comment
  • 0
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

 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      16,651
    • Total Posts
      79,457
    • Total Members
      65,160
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    karlgsy
    Joined 06/12/21 08:11
  • Posts

    • Hi @marksiqi What happens if the stock I am trading delists? If you have an open leveraged position on a stock that delists, we’ll close your position at a level of zero and typically open a new position – called a ‘proceeds line’ – on your behalf which is untradeable, has no price and brings no value to your account. Once the company confirms there is no return to shareholders, which could take years, we will close your proceeds line position at the level of zero. However, we won’t start this procedure as soon as a company announces it is delisting. The stock status will first need to be reviewed by our corporate actions and risk departments. If you own shares in a company that delists on your IG leveraged account, we can close the position completely upon request and thus waive your right to potential future proceeds. On the other hand, if you hold those shares on your IG share dealing account, we can't close the position. This is because when you trade on leverage, you're trading over-the-counter with us - so we're able to take care of things like this in-house. However, when you buy or sell shares in a company, you're trading on an exchange that we have no control over. You can also read the following article for a better understanding: what happens if a stock is delisted.   All the best - MongiIG
    • Foreign-exchange market volatility hovered near a nine-month peak on Thursday as traders weighed the risks posed by a more hawkish Federal Reserve amid ongoing uncertainty about the threat from Omicron. Full article: CNBC   The dollar steadied on Wednesday and risk appetite recovered somewhat, but euro-dollar volatility remained elevated as investors weighed up hawkish comments from the Federal Reserve and risks relating to the Omicron variant. Full article: CNBC
    • Hi @CatherineLucy OTTAWA, Nov 28 (Reuters) - Currency markets calmed on Monday in Asia after the initial shock of the discovery of the Omicron coronavirus variant sent investors scurrying for cover last week, but analysts warned of more volatility with little still known about the new strain.
×
×
  • Create New...