How do I set a stop loss in IG app?

[FOUR9FINE]

How might I set a stop loss using the IG app?

Consulted the Help which says go to Positions then hover over - but a I don’t see the stop loss option.
Grateful for any help.

[AndaIG]

Hi @FOUR9FINE

Thanks for reaching out, 

Stop losses are only available on spread betting or CFD trading. They are not available on the share dealing platform. This is because they are OTC orders not available on the underlying exchange. 

You can however use a stop order to exit your position at a particular level. In order to achieve this select 'stop order' from the order types section on the deal ticket. Remember as this is not a typical stop loss order your order would be executed at the closest available price once triggered. 

You can learn more about this from the following link:

https://www.ig.com/uk/risk-management/stop-orders

All the best, 

Anda

[FOUR9FINE]

Thanks, so if I set a Stop Limit it will only sell below that level ?

[AndaIG]

Hi @FOUR9FINE

Stop order will sell at your specified price or a less favourable price. i.e. that price or below if you are selling depending on the best available price in the market.  

All the best, 

Anda

[Ryan_Baker]

Hello, Can you put a stop loss order in when the markets are closed ?

 

Many thanks,

Ryan

 

[OfentseIG]

13 hours ago, Ryan_Baker said:

Hello, Can you put a stop loss order in when the markets are closed ?

 

Many thanks,

Ryan

 

Hi @Ryan_Baker

Thanks for reaching out. The only option available when the market is closed is to place a limit order. 

Thanks, 

OfentseIG