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Not able to set stop loss for ASX stocks

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Hi guys,

I'm new to IG. Just wondering how to set STOP LOSS for ASX stocks. I couldn't find the order type.

It's a little bit weird I can set STOP LOSS for US stocks.

image.png.636ab9e02fcaa7b80a950c2fc26b1678.png

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isn't this something to do with the exchange? 

TBF IG need to sort this out and even if the exchange dont offer stops etc / stop orders to be submitted OOO, they need to take them on their systems and then submit them as soon as market opens. 

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Hi all,

I have just made my first trade with my new ISA account. To my surprise it seems that I can't set a stop loss! I am reading on the forum here that it depends on the exchange that the stocks are traded on. I don't get this. I also have an ISA account with X-O which is a very basic trading platform, yet I've never had an issue setting a stop loss whatever the exchange. I thought IG was a market leading platform. How come something this basic has been overlooked??

Can someone tell me how I can see what exchange a stock is being traded on?

I can't see how anyone can recommend this platform without something as basic as the protection of a stop loss.

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9 hours ago, HYC said:

I'm new to IG. Just wondering how to set STOP LOSS for ASX stocks. I couldn't find the order type.

 

17 minutes ago, investor567 said:

I can't see how anyone can recommend this platform without something as basic as the protection of a stop loss.

hi, the share dealing platform is awaiting an upgrade to match the cfd platform and will incorporate a stop loss function though remember a stop loss is just an equal and opposite stop order to the original trade entry order, see top answer on this thread below on how to set a stop loss and limit order for the share dealing platform.

 

 

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Thanks Casseynotes for the swift reply.

That all looks good but I don't have those menu options on the 'order type' box of the ticket.

Is this a browser issue? I'm using a mac but have checked with both Safari and Google Chrome. The menu doesn't appear in either.

Untitled.tiff

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9 minutes ago, investor567 said:

Thanks Casseynotes for the swift reply.

That all looks good but I don't have those menu options on the 'order type' box of the ticket.

Is this a browser issue? I'm using a mac but have checked with both Safari and Google Chrome. The menu doesn't appear in either.

Untitled.tiffUnavailable

the pic didn't come out but I'm presuming you have the sell stop but not the GTC which is not offered on some exchanges so needs to reset daily.

Some brokers will do this automatically for you and is another function expected on the upgrade. 

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40 minutes ago, Caseynotes said:

the pic didn't come out but I'm presuming you have the sell stop but not the GTC which is not offered on some exchanges so needs to reset daily.

Some brokers will do this automatically for you and is another function expected on the upgrade. 

No, I only have Limit - Day. (Hopefully the screenshot worked this time.)

Untitled.tiff

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14 minutes ago, investor567 said:

No, I only have Limit - Day. (Hopefully the screenshot worked this time.)

Untitled.tiffUnavailable

ok, so as in the pic above from the other poster, to exit the position I don't think it matters if it's a limit or stop because it can only cancel the position if it's a sell order for the total number of shares. So for the pic below if you have 300 shares and you want to sell them at a certain level to act as a stop loss it would be sell + quantity, limit day and the stop loss level. Maybe @JamesIG  can check this for us.

ps, I just use the windows 'snipping tool' to crop, copy and paste pics.

image.png.4e7692ffe6349dd4753cb5b2b7f7893b.png

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Hello IG & co,

Can we please get an update on the status of the upgrade (to the cfd platform) in regards to the ability to set stop losses? This functionality and the ability to modify it easily and quickly is important and a necessity with regards to frequent trading.

Is this upgrade also likely to include the ability to set trailing stops?

Regards & thanks, Jason

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4 hours ago, Jason L said:

Hello IG & co,

Can we please get an update on the status of the upgrade (to the cfd platform) in regards to the ability to set stop losses? This functionality and the ability to modify it easily and quickly is important and a necessity with regards to frequent trading.

Is this upgrade also likely to include the ability to set trailing stops?

Regards & thanks, Jason

Hi, am presuming you are meaning the upgrade to the share dealing platform rather than the cfd which has already been upgraded, there was news earlier this week that the conversion to html5 for the share dealing platform should be rolled out very early 2020.

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Yes, I did mean the updates to the share dealing platform! OK - thanks for that. Appreciate the info.

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Guest Sean

It is so unprofessional that IG doesn't provide stop loss for share trading account in Australia!!!

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On 14/10/2019 at 13:05, gary5000 said:

So to clarify can we set stops on share trades yet?

 

4 minutes ago, Guest Sean said:

It is so unprofessional that IG doesn't provide stop loss for share trading account in Australia!!!

Hey guys, 

A stop order works the same as a stop however because you're selling real shares we can't guarantee the level we sell all your shares at. 

image.png

If we take the ticket above as an example, the price is at 172.6/ 172.66. If you wanted your shares to be sold when the price drops down to 160 you would put stop market day(for the day) or GTC(good for 90 days). 

The only issue is, say you wanted to sell shares but only 50 are a 160 then the market continues to drop the next 50 will be filled at the next best price (but the next best price is lower 159.9).  

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Guest Seanmit
On 26/07/2019 at 21:28, investor567 said:

Hi all,

I have just made my first trade with my new ISA account. To my surprise it seems that I can't set a stop loss! I am reading on the forum here that it depends on the exchange that the stocks are traded on. I don't get this. I also have an ISA account with X-O which is a very basic trading platform, yet I've never had an issue setting a stop loss whatever the exchange. I thought IG was a market leading platform. How come something this basic has been overlooked??

Can someone tell me how I can see what exchange a stock is being traded on?

I can't see how anyone can recommend this platform without something as basic as the protection of a stop loss.

Hi

Very true,Im so disappointed with the platform and planning to switch back to my previous platform, IB.

How are you dealing with this restriction?

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Guest Sean
16 hours ago, CharlotteIG said:

 

Hey guys, 

A stop order works the same as a stop however because you're selling real shares we can't guarantee the level we sell all your shares at. 

image.png

If we take the ticket above as an example, the price is at 172.6/ 172.66. If you wanted your shares to be sold when the price drops down to 160 you would put stop market day(for the day) or GTC(good for 90 days). 

The only issue is, say you wanted to sell shares but only 50 are a 160 then the market continues to drop the next 50 will be filled at the next best price (but the next best price is lower 159.9).  

For this case, you should be able to write a stop limit instead of stop. I.e set the stop value to 50 and limit to 45 so your order will be executed only if the price is below 50 and above 45.

The problem( very unprofessional and amateurish) with IG is that they only offer sell Limit day during market closure and your order will anyhow get executed regards of market price as IG will pick the best price for you. Thats so lame!

 

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49 minutes ago, Guest Sean said:

For this case, you should be able to write a stop limit instead of stop. I.e set the stop value to 50 and limit to 45 so your order will be executed only if the price is below 50 and above 45.

The problem( very unprofessional and amateurish) with IG is that they only offer sell Limit day during market closure and your order will anyhow get executed regards of market price as IG will pick the best price for you. Thats so lame!

 

This is something that could definitely be taken on as feedback. 

I will speak with our non-leveraged platform development team and see what can be done. 

Thank you for posting this, I will keep this forum updated.

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Guest Sean
3 hours ago, CharlotteIG said:

This is something that could definitely be taken on as feedback. 

I will speak with our non-leveraged platform development team and see what can be done. 

Thank you for posting this, I will keep this forum updated.

Thanks for following up.

I am planning to close off my IG account (Australia) due to this issue as other platform (IB and CMC) provides the stop loss feature for both buy and sell orders.

Hopefully you can provide your response here in a timely manner as I would like to continue trading with IG since the web platform is very user friendly and easy to use.

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Guest GemOfCeylon

Hi Team,

Is the stop loss feature enabled for ASX stocks yet?
I haven't made the first trade on the platform yet, and couldn't find any reference to this feature.

Appreciate if someone could provide some details on this.

Thanks.

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Yehh, i have also been waiting for this feature and only basic stop's are available for share trading, you cant do trailing or bracketing it seems.

Sadly i'll have to open an account with another alternative, probably IB Australia and move my holdings over to them

Good luck

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