Risk management & CFDs
If you can’t be online to monitor the market every second, you can minimise the unforeseen effect of sudden price movements with lots of different order types for opening and closing market positions.
Limit order
You can use limit orders to close out an open CFD position at a previously specified price. You can also use them to open a position at a predetermined level.
Stop loss order
Like limit orders, you can use stop losses to specify a price to close out your CFD trade, but stop losses also prevent you from making further losses if the market moves against you. Stop losses can be used to open new positions too.*
Guaranteed stop loss order (GSLO)†
A GSLO is your guarantee that a CFD position is closed at a certain price if the market moves against you. Even if there’s a gap in the market, GSLOs will still close you out at whatever price you’ve specified.
* Not available on Australian shares.
† Charges apply when placing a GSLO.
One cancels the other (OCO) order
This is effectively a stop and limit order linked together on the same instrument. When one of your CFD orders is activated, the other is automatically cancelled so it doesn’t trigger a new order if the level is reached.
If done order
On Marketmaker™ Desktop only. An if done order is an additional stop loss or limit order that you can attach to an initial CFD order. It is very useful when you want to place an order to open a position at a predetermined price with a stop or limit created when that position is opened.
Or choose our Shield CFD account
For more risk-averse traders, we also offer the slightly less flexible Shield CFD account designed with protection built in. You can’t lose more than you have in your account, stop loss orders are automatic and they’re free, and every stop loss order has a no-slip guarantee – keeping you safe from market slippage you can’t foresee. Our charges are slightly higher for this account.