ProOrder – Guaranteed Stop? (IG Limited Risk account)

imokdesign · 2017-07-07T10:54:03+00:00

As a result of the new BaFin CFD law in Germany, only limeted risk accoutns (IG) with guaranteed stops are possible from July 22nd. I get an Email and they say, i have to stop ProOrder before the named date, add a guaranteed stop and then restart system. My questions: How is this in ProOrder implemented? As an additional code, or just by confirming the ProOrderstrategy. How Is the spread afected and will it have an effect on the minimum stop distance or slippage?

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08/05/2017 at 9:57 AM #42497 quote

Nicolas
Keymaster

Legend

Regulations are different for every country, unless you are working in the trading industry, only limited risk accounts are possible in Germany. I confirm that ProOrder is now compatible with limited risk accounts for everyone (worldwide).

08/07/2017 at 10:29 AM #42645 quote

victormork
Participant

Veteran

May I ask how that works exactly? Can I call IG and request to have my account set to limited risk and it will work automatically with Pro Order?

08/07/2017 at 1:31 PM #42670 quote

Leo
Participant

Veteran

As default every account change to Low-risk… at least in Germany.

With a call you upgrade to a normal account

08/08/2017 at 10:47 AM #42743 quote

victormork
Participant

Veteran

Ok, I was more curious if I wanted to change my account into a low risk, even if it’s not necessary, it could now do so without impacting my systems (apart from different prices of course)?

08/08/2017 at 1:57 PM #42756 quote

Eric
Participant

Master

the only thing that is better with a limited risk account is the guaranteed stop?

today i get slipped 5 points on dax with a standard stop (and it could have been worse)

08/09/2017 at 7:32 AM #42778 quote

victormork
Participant

Veteran

Well that’s why I was thinking about it. If you have a bigger position on it would be nice to avoid being slipped.. I think the extra cost of a guarantied stop can easily by justified by being guaranteed an exit price. And do IG still have the rule that you only pay for guarantied stop if it has been hit or has that changed?

08/09/2017 at 9:01 AM #42779 quote

Nicolas
Keymaster

Legend

Guaranteed stop is only paid if being triggered.

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