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Stops and limits on a share dealing position


Guest Benstone

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Guest Benstone

I'm new to the site and to share dealing so apologies if this sounds ridiculous. I've bought a few shares to start dabbling, and now want to put stops in place. Despite info on the site suggesting there is a place on the order position, I can't find one. When I've contacted the help desk they've told me it's not possible to put stops or limits on non leveraged deals. Is this true, because it goes against info on their own website and on everything I've been reading! Thanks in advance for any help.

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Hi  thanks for your query. Sorry that you seem to have been given conflicting information - I shall double check who you've spoken to and make sure they didn't get the wrong end of the stick, or mis interpret your question. 

 

So on a share dealing account you can't add stops or limits to an open position in the same way as you can on the leveraged side, however you can set up sell orders to close your position by opening up a new 'working order' or 'on exchange' order. 

 

For example...

 

Say you have an open position of 200 shares in Company XYZ which is priced at 100 - you can see this on your open positions window and you can see your profit and loss fluctuating. What you would need to do is bring up a separate deal ticket (by searching for Company XYZ in the search bar) and then click the 'on exchange' tab to set an order at a different level.

 

Say you wanted to sell if the stock fell by 20% and therefore you need your order level at 80. There are a number of different order types with a full explanation given by hovering over the 'i' icon. 

 

2017_08_25_09_05_06_IG_Dealing_Platform_Internet_Explorer.jpg

 

I hope this clarifies things. If not let me know how we can help further. 

(p.s. - I've just made a minor edit to your question which hopefully will help others searching the community going forward)

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