Quick CFD Trade Question

🤝 Help
1

When you send a pre-market stop (buy) order for an equity on a CFD account is it treated as a stop market order?

I see in the Invest account it lets you select stop market or stop limit but in the CFD it doesn’t let you choose nor does it tell you which it is.

2

Still not understanding this totally, does anyone know? Here’s a capture of what I’m talking about

Capture
Capture402Ă—723 14.6 KB

It’s a pre-market buy order and I want it at £20 p/s. I sent a order like this before and ended up paying over $5 p/s more than I specified in the price box when it was executed. I queried this by email on 24th but still have no reply and of course I posted this originally 6 days ago and still no response.

I’m reluctant to make new orders as it stands as I seem to not know how this platform works, could someone explain how this example order will be treated if confirmed?

Thanks

3

Hey @Rocky. I am sure that if you spend a little time in the forum to check the other threads, you will find answers to all your questions and a greater understanding of the system and all of its functions. Please see the one below:

i.e. In case of a price gap that surpassed your limit/stop entry - your order will be executed at the first available price.

4

Hi Peter, thanks for responding. I already understand slippage and how it affects entries and stops but the trade I emailed in about had no price gap nor did the price ever reach the figure I was executed at during the whole trading day (according to the T212 chart), the opening price was lower than what I was executed at by about $3 so I started to wonder if I’d misunderstood what this Limit/Stop option was (on the screenshot above) as I thought that if I specify a buy price higher than the previous close price and send a pending order, it would be executed at or near to the opening price (if higher than my order price) and if I specified a buy price lower than the previous close price it would be executed at or lower than that price.

That hasn’t happened here which is why I emailed CS but your explanation here at least seems to confirm that my thinking was right and something went awry with the platform.

5

I’ve sent you a PM, where I explain in more detail what happened. Please check it out and get back to us if there is still something unclear. Cheers :call_me_hand: