Orders and positions FAQs

A trade is executed immediately to open or close a position. 

An order is an instruction to execute a trade at a specified price level in the future.  

Trades and orders can be placed through the trading platform or via client support.

Slippage occurs when a trade is executed at a different price than requested, typically during periods of high market volatility. 

Orders may be filled at the next available price if the market moves quickly.

A stop loss order is used to close a position at a predefined price level to help limit potential losses. 

A stop entry order is used to open a position when the market reaches a specified price that is less favourable than the current level.

A limit entry order is used to open a position at a specified price that is more favourable than the current market level.

A limit closing order (or take profit) is used to close a position at a predefined level to secure potential gains.

A guaranteed stop loss order (GSLO) ensures that a position is closed at a specified price, regardless of market volatility. 

An additional cost will apply if triggered.

You can leave a guaranteed stop loss order when you open a trade either online or by phone. You may also add a guaranteed stop loss order to an existing trade provided it is within trading hours. For orders placed via the trading platform, you need to select the 'guaranteed' box next to the stop loss value. 

You will only be charged a premium for your GSLO if your order is triggered. Please be advised that you can place/amend/update your GSLOs within market hours for free, although minimum distances apply. Minimum distance will be shown on the deal ticket.

A trailing stop loss order is a risk management tool that adjusts automatically as the market moves in your favour, helping to limit potential losses while allowing profits to run.

Orders can be amended or cancelled through the trading platform.

You can amend orders on your positions at any time, including outside of markets hours. GSLO are the only exception to this and can be amended only during market hours.

Orders are monitored and executed during trading hours. If triggered outside these hours, they may be executed at the next available price.

Orders may be rejected for several reasons, including insufficient funds at the time of execution.

The duration depends on the product type. Some positions can be held indefinitely, provided margin requirements are met, while others may have expiry dates.

Futures positions may be rolled into the next contract, depending on the product and platform functionality.

Positions may be closed due to: 

• an order being triggered 
• margin requirements not being met 
• contract expiry  

You can raise trade queries/disputes by calling our Customer Support Team.

A corporate action is an event initiated by a company that may affect the value or structure of a financial instrument.

Corporate actions may impact positions, depending on the nature of the event.

Positions may be subject to dividend adjustments that reflect equivalent changes in the underlying market.

Market information is available within the trading platform.

Available markets may depend on factors such as liquidity and market capitalisation.

Daily change indicators provide an indication of price movement but may not reflect underlying market hours precisely.

Price tolerance defines the acceptable difference between the requested and executed price of a trade.

Price tolerance can be adjusted within platform settings where available. 

Look at the example below using the Vodafone Group (LSE) DFT market information:

Yes, we allow you to go both long and short in the same market on a non-FIFO basis. FIFO stands for 'first in first out'. If you have multiple trades in the same market, the first position to close is the first position placed in that market. 

FIFO is the standard setting for CFD and spread betting accounts, but you can disable it by turning on ‘hedging’ in Web Trader or our mobile apps. 

Non-FIFO allows you to open and close positions in the same market in any direction you wish. It doesn't prevent you from closing the first trade you placed, it simply gives you greater flexibility to open and close multiple positions in multiple directions. All our FX Accounts are non-FIFO. 

Example 

If you are long on the UK 100, you can also go short on the UK 100 to hedge all or some of your original trade. In order to do this, you must use the hedge button.

When you launch the deal ticket, you'll see a tick box option to hedge. If you tick this box, this will open a new position in the direction you've chosen, regardless of whether you currently have any open positions in the same market. If this is the first position within a particular market, the button will have no effect as effectively; there is no original position to hedge. 

Hedge example 

1. You have an open sell 10 CFDs in the Wall Street market 
2. You launch a new Wall Street deal ticket 
3. You decide to buy 5 Wall Street CFDs 
4. To place this trade independently of your original short position, you need to tick the hedge button and place the trade. Please note that if you don't tick the hedge button, this will effectively close 5 of your original short position 
5. You now have two positions open in the Wall Street market. One buy position of 5 and one sell position of 10, meaning you are now net short 5 in total. 
6. You can also close either position independently at any time

You must also be aware that if you have amalgamated positions turned on, this will show the net figures for the total trades placed i.e. inclusive of all shorts or longs in a specific market. To see individual positions, you need to expand the amalgamated position or switch to single positions. 

You're only charged margin on the larger side of the trade. Using the example above, you would only have been charged margin on the original Wall Street short 10 position, and not any hedged trade thereafter which is smaller than the initial trade. 

Trade example 

• You sell 2 Wall Street CFDs with an initial margin of $2,400 
• You then open a buy 1 Wall Street CFD with a margin of $1,200 (hedged trade) 

As the margin is bigger on the open 10-CFD trade, this will be the total margin required for all trades in this market. We do this to ensure that you have enough margin to cover the remaining position if and when the larger side is closed. The same rule applies for all step margin levels.

Finance charges work on a per-trade basis. This means you'll be charged overnight financing charges relating to each of the trades you place, regardless of whether they are a hedged position or not.

Corporate actions will be applied on a per-trade basis, not as an overall value.

Non‑expiring commodities are priced using underlying futures contracts, typically based on near and future expiry prices.

Adjustments may be applied over time to reflect price differences between contracts.

A limit down is the maximum permitted decline in a market price over a given period. 

When this level is reached, trading may be restricted to reduce excessive volatility.