Account Manangment FAQ

No, you cannot amend or cancel an order if it is already executed except for amending/adding a linked order such as a stop loss or limit profit order.

Yes, you can amend or cancel a contingent order if the market price has not reached the order price.

No. Your order is either entirely filled (executed) or rejected.

On the trading platform, click on the ´Positions´ panel, select the open position in which you wish to place the linked order and click on the ´create/amend order´ icon, which looks like a spanner. You can then add a stop or a limit order to the open position.
Alternatively, you can call our dealing desk at +44 (0) 1923 832 609 to place a linked order.

No, it is not necessary to place a stop loss or limit profit order.

If the market sell price (bid) trades to the price of a sell limit order or higher (or lower for sell stop orders), the sell order will be executed. If the market buy price (offer) trades to the price of a buy limit order or lower (or higher for buy stop orders), the buy order will be executed. If the market ‘gaps’ passed the order, all limit orders are filled at the limit price requested – stop orders may be subject to slippage at market open or significant intra day gapping.

A contingent order, also known as an ´if done´ order, consists of a primary order, a stop loss and a limit profit order. You would first need to place a primary order, which can be a stop or limit order. A primary order is used to open a position. After placing the primary order, you can place another stop loss and/or limit profit order which will be linked to this unexecuted primary order. If this primary order is executed, both the stop loss and the limit profit order will be active. If either the stop loss or limit profit order is executed, the position will be closed.

A primary order is an order placed with the intention of opening a new position. A linked order is a limit profit order or a stop loss order placed with the intention of locking in your profits on an existing open position or protecting your position against losses.

Good till cancelled (GTC) denotes that as long as the market price does not reach the order price, your order will continue to be active until you decide to cancel it.
Good till end of day denotes that as long as the market price does not reach the order price, your order will continue to be active until the market closes for that day or until close of business on the day which is normally 10 pm UK time.
Good till date/time denotes that as long as the market price does not reach the order price, your order will continue to be active until the date and time that has been specified by you.

A sell stop loss order is executed at either the stop loss price or lower and a buy stop loss order is executed at either the stop loss price or higher. The reason why we say ‘or lower’ and ‘or higher’ is because a market can ‘gap’ through your stop loss level, and as a result you will be filled at the next traded price. Limit profit orders are always executed at the limit profit order price.

Stop loss orders are filled at your stop loss order prices or market prices. If you had initially placed a stop loss order to sell 10,000 GBP/USD at 1.5975 and the market traded through to 1.5975 -1.5977, your stop loss order would be filled at the best market sell (bid) price which is 1.5975. If a market ‘gaps’ through your price you will be filled at the next tradable price which can result in larger losses than you expected.

Spread Co allow to you to place Limit Buy and Sell orders; Contingent (if done) orders; Stop Loss and Limit Orders are available on our platform.

The purpose of an order placing distance is to prevent your orders being triggered while you are in the midst of placing them. This can happen especially when markets move quickly. In order to prevent this from happening, we input order placing distance so as to allow you to safely place your orders at least a few pips away from the market.

If an order fails due to insufficient funds an email will confirm