Stop Loss Order

Stop loss orders are one of the order types that traders can execute on the financial markets. The name “stop loss” is self-explanatory: stop the losses before they get out of hand.

What is a stop loss? A stop loss order is an order or instruction given to the broker/dealer to automatically close a trade that has gone contrary to the trader’s position at a particular price level with the aim of preventing further losses if the adverse trade conditions persist. 

Brokers With Stop Loss Orders

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    Founded in Australia in 2010, Pepperstone is a highly regarded broker specialising in forex and CFDs. Serving more than 400,000 clients globally, it provides access to over 1,300 financial instruments through popular platforms like MT4, MT5, cTrader, and TradingView. Its fee structure is both low and transparent. With regulation by reputable bodies such as the FCA, ASIC, and CySEC, Pepperstone guarantees a safe trading environment for traders at every level.

    Instruments Regulator Platforms
    CFDs, Forex, Currency Indices, Stocks, Indices, Commodities, ETFs, Crypto (only Pro clients), Spread Betting FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB MT4, MT5, cTrader, TradingView, AutoChartist, DupliTrade, Quantower
    Min. Deposit Min. Trade Leverage
    $0 0.01 Lots 1:30 (Retail), 1:500 (Pro)
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    FXCC, a well-established brokerage since 2010, offers cost-effective online trading. Registered in Nevis and regulated by CySEC, it is distinguished by its ECN conditions and absence of a minimum deposit requirement. The account opening process is efficient, taking under five minutes.

    Instruments Regulator Platforms
    CFDs, Forex, Indices, Commodities, Crypto CySEC MT4, MT5
    Min. Deposit Min. Trade Leverage
    $0 0.01 Lots 1:500
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    IC Markets is an internationally acclaimed forex and CFD broker, admired for its competitive pricing, diverse trading instruments, and superior technology. Established in 2007 and based in Australia, the firm is under the regulation of ASIC, CySEC, and FSA. It has successfully drawn over 180,000 clients from more than 200 nations.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Futures, Crypto ASIC, CySEC, FSA, CMA MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade, Quantower
    Min. Deposit Min. Trade Leverage
    $200 0.01 Lots 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
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    Founded in 2006, FxPro has built a reputation as a reliable non-dealing desk (NDD) broker, providing trading access across more than 2,100 markets to over 2 million clients globally. It has received over 100 industry awards, reflecting its favourable conditions for active traders.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, Futures, Spread Betting FCA, CySEC, FSCA, SCB, FSA FxPro Edge, MT4, MT5, cTrader, AutoChartist, TradingCentral, DupliTrade, Quantower
    Min. Deposit Min. Trade Leverage
    $100 0.01 Lots 1:30 (Retail), 1:500 (Pro)
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    Founded in 1974, IG is a part of IG Group Holdings Plc, a publicly listed brokerage (LSE: IGG). The company provides spread betting, CFD, and forex trading, offering access to over 17,000 markets. Its platforms and investing apps are notably user-friendly. Over the past 50 years, IG has consistently been an industry leader, excelling in all essential areas for traders.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM Web, ProRealTime, L2 Dealer, MT4, TradingView, AutoChartist, TradingCentral, ProRealTime
    Min. Deposit Min. Trade Leverage
    $0 0.01 Lots 1:30 (Retail), 1:222 (Pro)
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    IC Trading belongs to the reputable IC Markets group. Designed for dedicated traders, it offers highly competitive spreads, dependable order execution, and sophisticated trading tools. However, it operates from Mauritius, an offshore financial centre, allowing high leverage but within a less regulated environment.

    Instruments Regulator Platforms
    CFDs, Forex, Stocks, Indices, Commodities, Bonds, Cryptos, Futures FSC MT4, MT5, cTrader, AutoChartist, TradingCentral
    Min. Deposit Min. Trade Leverage
    $200 0.01 Lots 1:500
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    Established in 1999, FOREX.com is now integrated into StoneX, a prominent financial services entity catering to more than one million clients globally. The broker is regulated in numerous jurisdictions, including the US, UK, EU, and Australia. It offers a vast array of markets beyond forex, delivering competitive pricing on state-of-the-art trading platforms.

    Instruments Regulator Platforms
    Forex, CFDs, Stock CFDs, Indices, Commodities, Futures, Options, Crypto NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA WebTrader, Mobile, MT4, MT5, TradingView
    Min. Deposit Min. Trade Leverage
    $100 0.01 Lots 1:30

Safety Comparison

Compare how safe the Stop Loss Order are and what features they offer to protect traders.

Safety Comparison
Broker Trust Rating FCA Regulated Negative Balance Protection Guaranteed Stop Loss Segregated Accounts
Pepperstone 4.6
FXCC 3.3
IC Markets 4.6
FXPro 4.4
IG Index 4.9
IC Trading 2.8
Forex.com 4.9

Payments Comparison

Compare which popular payment methods the Stop Loss Order support and whether they have trading accounts denominated in British Pounds (GBP).

Payments Comparison
Broker GBP Account Debit Card Credit Card Neteller Skrill Apple Pay
Pepperstone
FXCC
IC Markets
FXPro
IG Index
IC Trading
Forex.com

Mobile Trading Comparison

How good are the Stop Loss Order at mobile trading using apps or other mobile interfaces.

Mobile Trading Comparison
Broker Mobile Apps iOS Rating Android Rating Smart Watch App
Pepperstone iOS & Android 4.4 4.1
FXCC iOS & Android 4.8 4.4
IC Markets iOS & Android 3.1 4.2
FXPro iOS & Android 4.7 4.3
IG Index iOS & Android 4.6 4
IC Trading iOS & Android 4.8 4.6
Forex.com iOS & Android 3.6 3.8

Beginners Comparison

Are the Stop Loss Order good for beginner traders, that might want an affordable setup to get started, along with good support and educational resources?

Beginners Comparison
Broker Demo Account Minimum Deposit Minimum Trade Support Rating Education Rating
Pepperstone $0 0.01 Lots 4.6 4
FXCC $0 0.01 Lots 4.3 2.5
IC Markets $200 0.01 Lots 4.5 3.5
FXPro $100 0.01 Lots 4 4
IG Index $0 0.01 Lots 4.5 5
IC Trading $200 0.01 Lots 2.8 2.2
Forex.com $100 0.01 Lots 4.3 4.5

Advanced Trading Comparison

Do the Stop Loss Order offer features that allow for more advanced trading strategies?

Advanced Trading Comparison
Broker Automated Trading Pro Account Leverage VPS AI Low Latency Extended Hours
Pepperstone Expert Advisors (EAs) on MetaTrader 1:30 (Retail), 1:500 (Pro)
FXCC Expert Advisors (EAs) on MetaTrader 1:500
IC Markets Expert Advisors (EAs) on MetaTrader, cBots on cTrader, Myfxbook AutoTrade 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
FXPro Expert Advisors (EAs) on MetaTrader, cBots on cTrader 1:30 (Retail), 1:500 (Pro)
IG Index Expert Advisors (EAs) on MetaTrader, build your own on ProRealTime 1:30 (Retail), 1:222 (Pro)
IC Trading Expert Advisors (EAs) on MetaTrader, cBots on cTrader 1:500
Forex.com Expert Advisors (EAs) on MetaTrader 1:30

Detailed Rating Comparison

Use this heatmap to compare our detailed ratings for all of the Stop Loss Order.

Detailed Rating Comparison
Broker Trust Platforms Mobile Assets Fees Accounts Support Research Education
Pepperstone 4.6 4.4 4.3 3.8 4.5 4 4.6 4.3 4
FXCC 3.3 3.3 4.6 3 4 3.5 4.3 2 2.5
IC Markets 4.6 4 3.7 3.5 4.6 4 4.5 4 3.5
FXPro 4.4 4.3 4.5 4 4 3.8 4 4 4
IG Index 4.9 4.9 4.3 4.5 3.5 4 4.5 4.9 5
IC Trading 2.8 4 4.7 3 4 3.5 2.8 3 2.2
Forex.com 4.9 4.6 3.7 4.3 4.6 4 4.3 4.8 4.5

Our Take On Pepperstone

"Pepperstone is a premier trading platform, providing tight spreads, swift execution, and sophisticated charting tools for seasoned traders. Beginners benefit from no minimum deposit, comprehensive learning materials, and outstanding 24/7 support."
Tobias Robinson
Tobias Robinson
Reviewer

Pros

  • Over the years, Pepperstone has consistently garnered recognition from DayTrading.com’s annual awards. Recently, it was honoured as the 'Best Overall Broker' in 2025 and was the 'Best Forex Broker' runner-up the same year.
  • Pepperstone presents itself as an economical choice for traders, offering spreads as low as 0.0 in its Razor account. The Active Trader programme provides rebates up to 30% on indices and commodities, plus $3 per lot on forex.
  • Pepperstone offers rapid execution speeds of approximately 30ms, enabling swift order processing and execution, making it ideal for traders.

Cons

  • Pepperstone's demo accounts expire after 30 days, which may not provide sufficient time to explore various platforms and evaluate trading strategies.
  • Although its market range has improved, its crypto offerings remain limited compared to brokers specialising in this sector, lacking real coin investment options.
  • Pepperstone doesn't offer cTrader Copy, a favoured feature for copying trades found in the cTrader platform, which is available on other platforms such as IC Markets. However, Pepperstone has launched its own user-friendly copy trading app.

Our Take On FXCC

"FXCC remains a top choice for forex traders, offering over 70 currency pairs, very tight spreads from 0.0 pips in tests, and high leverage up to 1:500 with the ECN XL account."

Pros

  • FXCC is a trusted and licensed broker under the regulation of CySEC, a leading European authority ensuring excellent safeguarding standards.
  • There are no deposit fees other than standard cryptocurrency mining charges, which benefits active traders.
  • There are no limitations on short-term trading techniques such as trading and scalping.

Cons

  • The variety of currency pairs surpasses most options, but the choice of other assets is limited. Notably, stocks are absent.
  • While the MetaTrader suite excels in technical analysis, its outdated design detracts from the overall trading experience, particularly when contrasted with contemporary platforms such as TradingView.
  • The range of research tools, such as Trading Central and Autochartist, is quite limited. Leading platforms in this category, like IG, offer more advanced features.

Our Take On IC Markets

"IC Markets provides excellent pricing, swift execution, and easy deposits. With cutting-edge charting tools like TradingView and the Raw Trader Plus account, it continues to be a preferred option for intermediate and advanced traders."

Pros

  • IC Markets provides reliable 24/5 support, especially for account and funding queries, drawing from direct experience.
  • As a well-regulated and reputable broker, IC Markets focuses on client safety and transparency to provide a dependable global trading experience.
  • Access over 2,250 CFDs across diverse markets like forex, commodities, indices, shares, bonds, and cryptocurrencies. This variety enables traders to employ diversified strategies.

Cons

  • Certain withdrawal methods incur fees, including a $20 charge for wire transfers. These costs can reduce profits, particularly with frequent withdrawals.
  • Although there are four top-tier third-party platforms available, the absence of in-house software or a trading app tailored for novice traders is notable.
  • Interest is not paid on idle cash, a feature gaining popularity with alternatives such as Interactive Brokers.

Our Take On FXPro

"FxPro is an excellent choice for traders, offering swift execution speeds under 12ms, reduced fees since 2022, and outstanding charting platforms like MT4, MT5, cTrader, and FxPro Edge."

Pros

  • FxPro's Wallet is a notable feature enabling traders to securely manage their funds. It ensures additional protection and ease by separating unused funds from active trading accounts.
  • FxPro uses a 'No Dealing Desk' (NDD) model for swift and transparent order execution, usually within 12 milliseconds, making it well-suited for short-term trading strategies.
  • FxPro provides four dependable charting platforms, including the user-friendly FxPro Edge. It features more than 50 indicators, 7 types of charts, and 15 different timeframes.

Cons

  • FxPro offers customer support five days a week around the clock, accessible via various platforms, and the service quality is reliable based on tests. However, the absence of weekend support can be a drawback for traders requiring help beyond standard market times.
  • FxPro, with its $10M funded demo account and expanding Knowledge Hub, mainly caters to experienced traders. Beginners might find its account and fee structure challenging to understand.
  • There are no passive investment options such as copy trading or interest on cash. While traders might not find these essential, competitors like eToro, which accommodate both active and passive investors, offer more extensive services.

Our Take On IG Index

"IG offers a complete package with an intuitive online platform, top-tier beginner education, advanced charting tools through its TradingView integration, real-time data, and swift execution for seasoned traders."

Pros

  • As a seasoned broker, IG adheres to stringent regulatory standards across various regions, ensuring significant trust.
  • The web-based platform supports traders at every level, offering advanced charting tools and real-time market data vital for trading. Additionally, IG now includes TradingView integration.
  • IG provides a wide range of professional and engaging educational materials, such as webinars, articles, and analyses, tailored for traders.

Cons

  • Beginners may find IG's fees complicated, as they vary depending on the trades or services. This could cause confusion and unexpected costs.
  • In the UK and EU, negative balance protection is available. However, US clients lack account protection and guaranteed stop losses.
  • Based on tests, stock and CFD spreads remain less competitive than the lowest-cost brokers, such as CMC Markets.

Our Take On IC Trading

"IC Trading offers an ideal environment, featuring top-tier execution speeds of around 40 milliseconds, extensive liquidity, and advanced charting tools, perfect for scalpers, traders, and algorithmic traders."
Christian Harris
Christian Harris
Reviewer

Pros

  • Trading Central and Autochartist provide valuable technical analysis and actionable ideas. These tools are readily available within the account area or on the cTrader platform.
  • IC Trading provides exceptional flexibility, allowing traders to open as many as 10 live accounts and 20 demo accounts. This enables the management of distinct profiles for various activities, including manual and algorithmic trading.
  • IC Trading offers top-tier spreads, with some major currency pairs like EUR/USD featuring spreads as low as 0.0 pips, making it an excellent choice for traders.

Cons

  • Although IC Trading operates under the reputable IC Markets group, it is licensed by the FSC in Mauritius, a regulator known for its limited financial transparency and lack of robust safeguards.
  • The educational materials require significant enhancement unless accessed via the IC Markets website. This limitation is particularly disadvantageous for beginners seeking a thorough learning experience, especially when compared to industry leaders such as eToro.
  • Unlike IC Markets, IC Trading lacks support for social trading via the IC Social app or the ZuluTrade platform.

Our Take On Forex.com

"FOREX.com excels in serving traders of all levels, offering more than 80 currency pairs, spreads starting at 0.0 pips, and competitive commissions. Its robust charting platforms provide over 100 technical indicators and comprehensive research tools."

Pros

  • FOREX.com provides top-tier forex rates beginning at 0.0 pips, along with attractive cashback rebates up to 15% for dedicated traders.
  • The in-house Web Trader remains a standout platform, excellently crafted for budding traders. It features a sleek design and offers more than 80 technical indicators for thorough market analysis.
  • An abundance of educational resources is available, such as tutorials, webinars, and an extensive YouTube channel, designed to enhance your understanding of financial markets.

Cons

  • US clients are not protected against negative balances, which means you could end up owing more than your initial deposit.
  • Demo accounts are typically limited to 90 days, hindering effective strategy testing.
  • FOREX.com's MT4 platform provides around 600 instruments, a notable reduction compared to the more than 5,500 options on its other platforms.

Common Mistakes Traders Make in Setting Stops

When choosing a price level to set a stop loss, are there any special considerations or are stop loss levels just set arbitrarily at the trader’s discretion? It is very unfortunate that many retail traders do not know the principles that guide the setting of a stop loss level, and the so-called forex trainers or seminar resource persons who run all the “intensive” seminars we see being advertised on the street corners and on the internet are not making things easier.

There is hardly a retail trader we come across who has been able to answer this question satisfactorily. Many believe that setting a stop loss is an arbitrary event. Worse still, there are a few who actually advocate not setting a stop loss so as to give the trade room to breathe. The first point of view supposes that all currency pairs and trades act alike and so there is nothing to consider when setting a stop loss level. The second standpoint presupposes that trades are predictable and in so far as the trader is on top of the action, there is no need for a stop loss.

Both standpoints are fundamentally flawed and will present major problems for the trader. The first standpoint is flawed because all currencies do not behave alike. Some have a greater intraday range and have more volatility than other currencies. So assigning the same stop loss or not considering the inherent characteristics of the currencies themselves when deciding to set stops will lead to either stops being so tight that the choke the trade, or to loose that they do not exert the necessary controls on any losses that may occur. The second standpoint assumes that the trader will always be on his computer to monitor open positions (which is impossible), or that the markets can always stay predictable without any sudden adverse market events occurring (which is also not the case). The end result is that adopting both trade standpoints when it comes to setting stop loss levels will eventually lead to catastrophic results.

Principles for Setting a Stop Loss

Setting a stop loss is a careful business which the trader should do with much consideration. There are factors to be considered when setting a stop loss. Some of these are:

1)    Intraday price range of the currency asset.

2)    Volatility index of the asset.

3)    Presence or absence of any points of resistance or support within the immediate price area.

4)    Time frame being traded.

5)    News releases for the day/time period in view.

6)    Trader’s margin.

The intraday price range of an asset is very important when considering where to set a stop loss. For a currency with a 100 pip intraday price range, a stop loss of about 50 pips is ok, depending on when the trade was executed and how close the trade is to key levels of support and resistance. However, you cannot set a 50 pip stop loss for an exotic currency pair with a 1000 pip price range, or for a commodity asset like gold that could sometimes move as much as 5,000 pips in a day. So currencies with lower ranges will require smaller stops, and larger stops must be used for currencies with larger price ranges. Similarly, a trader  who intends to close an open position the same day it was opened would not need large stops when compared with another trader who used a daily chart for his analysis and is looking to keep the position open for weeks at a time.

Another consideration is the trader’s margin. It is foolhardy trying to trade assets with large moves on a small margin. The margin will restrict the trader and force him to use tight stops to choke the trade.

It is good practice to always consider where the key levels of support and resistance are located before opening a position. If a price level is in between a key support and resistance, the trader may be forced to use a larger stop to accommodate any drawdowns without closing the trade. Sometimes it is better to use pending orders that will allow the trade to gravitate towards a key level, and then tighter stops can be used knowing that prices will probably be held back by the key levels before triggering a stop loss.

Another factor to be considered is the volatility index of the currency pair to be traded. For instance, the GBP/JPY currency pair is known to be an extremely volatile currency pair, with a spread of at least 8 pips (or $80 on a standard lot position). It has a tendency of bouncing around before finally deciding where it is going. If a trader is trading this pair on an account margin in the lower range of thousands, then the trader must be very careful when setting stops. Too tight a stop will cause the trade to be closed prematurely. There is nothing more frustrating than seeing a trade closed out prematurely, only for the position to eventually end up in the predicted direction of the trade.

Finally, it is always noteworthy considering news trades when setting stop loss levels. This is especially important for traders who are trading medium to long term. A news trade can cause a position that has probably been in profits for a few days to give every dime of profit up in a few short minutes.

Setting a stop loss is serious business, and if traders pay attention to the details that have been discussed above, they will be able to make more informed decisions when giving the stop loss instructions to their broker.