There are Forex brokers who require certain minimum distance for trading stops & limit orders to be met when trading.
In simple words, to a trader this translates into a requirement to place stops on each trading position no closer than the X amount of pips from the entry point, or from the current price if they modify an already open position.
Not to be mistaken for the default minimum distance limits anchored to Bid-Ask prices by all trading platforms to allow any trading at all.
Read more...
trader
February 25, 2011IBFX has stoplevel set to 30 for 5-digit pairs.
BrokerGuru
February 26, 2011On 5 digit platforms:
SL 30 = 3 pips.
It's fine.
trader
May 30, 2011good job!
and if you already have this category, maybe you should add a list of brokers with freezelevel higher then the spread. What you have here is in fact the distance in pips from the opening price, alongside which you can not touch the order. The freezelevel is the distance in pips from SL or TP alongside you can not touch the order. Some brokers won't allow you to modify SL, TP, close the order (totally or partially), etc, if it is less then x pips far away from a SL or a TP line. Many bucket shop brokers do that for SL only. Sorry for my English.
BrokerGuru
May 31, 2011That's a good point.
Though there is a problem - brokers don't talk about that, don't write about that much, so most of the time you can't find/ verify that unless you open a live account.
Possibly with time we'll be able to collect such information from traders, via a dedicated feedback box.
I'll keep your suggestion on our list. Thank you!
trader
August 18, 2011Pepperstone was 0 and changed lately to 2 pips
GoMarkets 2 pips
HotForex 3 pips
BrokerGuru
September 3, 2011Go Markets and HotForex have been added. Thank you!
Pepperstone will go back to 0 pips soon as they said today in the chat:
"Please wait for a site operator to respond...
Operator Pepperstone Client Support has joined the chat.
Pepperstone Client Support: Welcome to Pepperstone. How may I help you?
##: Hello
is the minimum distance for stops/limits 2 pips?
or 0?
on EURUSD
Pepperstone Client Support: Yes 2 at them moment, will be changed to 0 in about 2 weeks time once our server in New York is running"
trader
September 3, 2011Stop Level
Forexcent EURUSD 6 pips
Roboforex EURUSD 2 pips
FBS EURUSD 2 pips
BrokerGuru
September 8, 2011Thank you!
RoboForex and ForexCent have been added.
We couldn't find information about stops at FBS, the request has been sent to the broker.
Indian Carmine
December 13, 2011Instaforex and Vantagefx UK both - EURUSD - 3 pips ST/TP from the current market price.
Regards, Indian Carmine.
Indian Carmine
December 13, 2011Admiral market and Fxpro, both EURUSD 5 pips st/tl from current market price
BrokerGuru
December 14, 2011Thank you!
Though in order to list it, we need to find a reference on broker's website & quote it.
FxPro is added. For the rest, I can't find any confirmation.
trader
March 13, 2012Alpari UK: SL/TP at least 30 pips from market price
Deltastocks: SL/TP varies from 0 to 400 pips from market price
FXCM: No minimum
Write your comment or a review