Stop Buy Order

[gary5000]

How can one set a Stop Buy Order - an order that will execute if the price of a stock rises above a set price. I heard IG offers this but I can't work out how to do it.

[Caseynotes]

21 hours ago, gary5000 said:

How can one set a Stop Buy Order - an order that will execute if the price of a stock rises above a set price. I heard IG offers this but I can't work out how to do it.

Hi, which platform are you using? If it's the web based leveraged account platform you enter the level on the order ticket and press buy or sell, the platform knows if it's a stop or a limit order.

[gary5000]

I'm using both the share trading and CFD new platform. I want to be able to do this on both platforms as CFD dont have all the shares I want to buy all the time.

How does the platform know if its a stop or a limit order? Just appears to say limit on the share trading platform. Saxo/IB and other brokers allow you to toggle between options so it is very clear the strategy you are taking to execute.

 

[Caseynotes]

3 minutes ago, gary5000 said:

I'm using both the share trading and CFD new platform. I want to be able to do this on both platforms as CFD dont have all the shares I want to buy all the time.

How does the platform know if its a stop or a limit order? Just appears to say limit on the share trading platform. Saxo/IB and other brokers allow you to toggle between options so it is very clear the strategy you are taking to execute.

 

The share dealing platform is due for upgrade to HTML (same as the cfd new platform) in the new year. The new cfd platform knows whether it's a stop or limit order by comparing the current price and the order level and if you are buying or selling. 

On the share dealing platform you are either buying shares or selling shares you already own. Some exchanges are not allowed to offer stop loss orders but a stop loss is just a pending order for an equal and amount in the opposite direction at the appropriate price level.