Top 6 Best Brokers with Guaranteed Stop Loss List 2021

logomark Filippo Ucchino calendar Last Updated: November 2021 timer 8 min read
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The foreign exchange market is no doubt one of the largest financial markets in the world. The market boasts of more than $5 trillion trades daily. With this figure, the market comes with opportunities for investors and traders. But to access the market, you need to work with a reliable online forex broker. You can take a look at our list of the best forex brokers on the market.

Before you settle for a forex broker, among others, ensure the broker has a guaranteed stop loss. A guaranteed stop loss can be a great risk management tool that you can leverage to prevent the loss of your trading capital.

Table of contents

Guaranteed Stop Loss: What is it

Guaranteed stop loss is a risk management measure that ensures your trade position is always closed at your desired price. At its core, it is meant to protect your trades from capital loss during volatility. In other words, guaranteed stop loss is a risk management tool that executes or closes your order on a particular set level chosen by you.

During a high volatility market’s situation or an economic crisis, the guaranteed stop loss is an automatic instruction that can save you from a deep loss. Guaranteed stop loss removes any risk of slippage, especially when the price at which your order is executed does not match the price at which it was requested. The broker accepts the risk of slippage on your behalf by attaching a guaranteed stop loss.

Top 6 Brokers with Guaranteed Stop Loss

Below is a list of the top brokers with guaranteed stop loss. Please note that the service may not be available in some locations. So before you choose a broker, check if the service is available in your present location.

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72% of retail investor accounts lose money

1. Plus500

Plus500 is one of the leading online CFD providers with guaranteed stop loss to protect investors capital. Aside from guaranteed stop loss, Plus500 comes with lots of risk management tools, including trading indicators and expert advisors. With Plus500, your trade is subjected to a wider spread and once any trade is placed, it cannot be removed. Additionally, once activated, the wider spread charge is non-refundable, and is visible prior to the placing of this type of order.

While using this service, a GSL must be set within certain distances from the current rate of the instrument. Plus500 is a CFD market maker and spreads start from 0.6 pips on forex. Additionally, this broker offers educational resources for newbies to take advantage of. If you are just starting out, the best place to start is to read through the educational resources so that you will understand the roots of the forex market.

74
Rated: Excellent
Security 96
Cost 70
Trading 66
Education 37

Platforms: Proprietary Web Platform Regulations: MAS, FCA, MIFID-ESMA, ASIC, FMA, CYSEC, ISA, Offshore Minimum Deposit: 100
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76% of retail CFD accounts lose money

2. IG Markets

IG Markets is another quality broker offering the guaranteed stop loss service. However, the cost of the GSL service depends on the market you are operating on. If the stop is triggered, IG Markets will charge you for that. Once you enter in the “Stop” field and select “Guaranteed” from the drop-down menu, the service would immediately become visible on your trading ticket above the order confirmation.

If by chance you stop the service, the cost is charged and recorded separately in your history and daily statement. IG Markets is regulated by the relevant government agencies in the region it has jurisdiction. Plus, there are more than 17,000 financial instruments for you to trade.

90
Rated: Excellent
Security 98
Cost 62
Trading 100
Education 84

Platforms: Proprietary Web Platform, MAC Platforms Regulations: FSA, MAS, FINMA, FCA, CFTC, MIFID-ESMA, ASIC, FMA, FSCA, DFSA Minimum Deposit: 300
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75% of retail investor accounts lose money

3. EasyMarkets

EasyMarkets is a household name in the foreign exchange scene. It offers a free guaranteed stop loss available on the proprietary platform and mobile apps. It also guarantees that your order will be met when the rate is reached. The guaranteed stop loss comes at no extra cost.

EasyMarkets is a market maker broker that was created way back in 2001. It parades a team of experienced personnel who are knowledgeable in the foreign exchange market and other financial markets. EasyMarkets boasts of 37 international awards, and you can own a trading account with as low as $25. This broker has a wide range of financial instruments and trading tools to choose from.

80
Rated: Excellent
Security 93
Cost 85
Trading 68
Education 65

Platforms: Proprietary Web Platform Regulations: MIFID-ESMA, ASIC, CYSEC Minimum Deposit:
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80% of retail CFD accounts lose money

4. CMC Markets

CMC Markets is a DMA broker offering best-in-class financial services to different categories of investors and traders alike. This broker has over 10.000 CFD assets with spreads starting from 0.3 pips. Plus, it also supports guaranteed stop loss to protect traders’ funds. The cost of the service is based on the current market price, and it will also be displayed at the bottom of the order ticket in your account currency.

Traders have the choice of switching or cancelling the service or switching to different risk management measures, including a trailing stop loss order or a regular stop loss order at any time. Any moment you switch to a different package, the original GSL premium will be refunded if a GSL is not triggered. Before you activate the guaranteed stop loss service, ensure you check to verify if the GSL can be set.

80
Rated: Excellent
Security 95
Cost 61
Trading 75
Education 81

Platforms: Proprietary Web Platform Regulations: MAS, FCA, MIFID-ESMA, ASIC, IIROC, FMA, CBRC Minimum Deposit: 0
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67% of retail CFD accounts lose money

5. City Index

Next on our list of the top forex brokers with guaranteed stop loss is City Index. City Index is a broker that can help you diversify your investment portfolio. Aside from forex, you may invest in cryptocurrencies, pure metals, commodities, and stocks on the City Index platform. The team at City Index has over 35 years of experience in the market. The broker has fixed spreads on index (from 0.3 pips) and futures (from 0.8 pips).

City Index supports guaranteed stop loss to protect investors’ deposits. Investors can add a guaranteed stop loss to a wide range of over 12,000 markets and will only pay a small fee for added protection if your GSL is triggered. The cost of the service is

4 x quantity of CFDs charged in base currency. For example, EUR/USD (per 0.0001) CFD.

The guaranteed stop loss service is not available for all markets, but you can amend a GSL during market trading hours for no extra charge.

78
Rated: Excellent
Security 94
Cost 58
Trading 77
Education 69

Platforms: Proprietary Desktop Platform, Proprietary Web Platform Regulations: MAS, FCA, MIFID-ESMA, ASIC Minimum Deposit: 50
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79% of retail investor accounts lose money

6. Markets.com

Markets.com is a reputable online broker providing financial services to both newbie and experienced forex traders. Markets.com is regulated by FCA, ASIC, CySEC, and FSCA. To open an account with this broker, you need at least $100 for a start. Markets.com supports different asset classes, including ETFs, blends and bonds.

While this broker comes with guaranteed stop loss, it is not available for all the clients depending on your location/jurisdiction. One of the benefits of using this service is that it helps you reduce the time you spend monitoring your positions. Traders can still set a stop loss / take profit even with a GSL.

When you open a trade position on Markets.com, the service will be automatically set to the level of the initial margin used. The good news is that the maximum risk per position is known in advance.

90
Rated: Excellent
Security 96
Cost 71
Trading 100
Education 73

Platforms: MT4 Dekstop, MT4 Web, MT5 Desktop, MT5 Web, Proprietary Web Platform Regulations: MIFID-ESMA, ASIC, FMA, FSCA, CYSEC Minimum Deposit: 100

Round-up of the best brokers with guaranteed stop loss

WARNING

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Between 74-89% of retail investor accounts lose money when trading CFDs.
You should consider whether you can afford to take the high risk of losing your money

Additional costs for GSL Minimum Deposit
Plus500 Wider spreads $100
IG Markets Commission $250
EasyMarkets No $25
CMC Markets Commission* $0
City Index Commission** $100
Markets.com No $100

* Value per point x stop premium
** Fixed Number depending on the market x number of CFD or stake charged in a base currency

Guaranteed Stop Loss vs Basic Stop Loss

There are three basic differences between a guaranteed stop loss and a basic stop loss. First, a guaranteed stop loss closes your trade at a pre-specified price level chosen by you, while the normal stop loss closes the trade at the best price available.

Secondly, the basic stop loss is deeply affected by market volatility, while guaranteed stop loss is not and it does not require a complex trading strategy. The third difference between a guaranteed stop loss and the basic stop loss is that if you use the guaranteed stop loss, you may be charged a fee for the service, while the normal stop loss does not present any fee. Therefore, the commissions charged depend on the broker you choose.

Despite the gains of using a stop loss, it still has some drawbacks. One of the drawbacks is that when it is triggered, it does not produce a sale at the stop loss price.

Features Guaranteed Stop Loss Stop Loss
Additional costs Yes No
Protection from slippage Yes No
Protection from high volatility Yes No

How does a Guaranteed Stop Loss work

Guaranteed stop loss is a risk management measure that ensures your trade position is always closed at your desired price. To understand how it works, let’s take stocks for example. Supposing you buy stock at $100 and you plan to exit the market once the stock reaches $90.  If the stock, for some reason, falls suddenly and there’s not a buyer at the chosen level, the broker may execute the sell order at $89, making you lose just $1 instead of losing your entire capital.

A guaranteed stop loss will automatically close the order $90 regardless of the situation on the market. If you are a trader on the FX market, you already know that 1 pip is a lot of money. And that’s why you see lots of traders jumping to use guaranteed stop loss.

Advantages and downsides of using Guaranteed Stop Loss

A guaranteed stop loss comes with lots of benefits and drawbacks. In this section, we’ll explore the pros and cons of using this service.

Pros

  • The biggest advantage of using guaranteed stop loss is that it is not affected by market volatility
  • Guaranteed stop loss doesn't come with the risk of slippage

Cons

  • The major drawback of using guaranteed stop loss is that unlike basic stop loss, it comes at a premium

Brokers with guaranteed stop loss FAQs

When would you need a Guaranteed Stop Loss?

There are several reasons why traders need a guaranteed stop loss. You need this service, if you like to trade against the dominant trend. You also need the service if you’re keen on trading with high leverage. Lastly, you need the service if you want to protect your downsides by paying an extra fee.

Is Guaranteed Stop Loss necessary?

Using guaranteed stop loss largely depends on your trading preferences and on your attitude with the associated risks which come with trading. But generally, using the tool can help you protect your investments.

Conclusion

The essence of using a guaranteed stop loss as a forex trader cannot be overemphasized. At the very least, it protects your invested capital from market forces during volatility.

With so many brokers offering this service, this article has been able to highlight the best 6 brokers to choose from. You may also read through our article on the best 10 forex brokers on the market before taking your final decision.


About the Author

Filippo Ucchino

Co-Founder - CEO - Broker Expert
Filippo is the co-founder and CEO of InvestinGoal.com. He has 15 years of experience in the financial sector and forex in particular. He started his career as a forex trader in 2005 and then became interested in the whole fintech and crypto sector.
Over this time, he has developed an almost scientific approach to the analysis of brokers, their services, and offerings. In addition, he is an expert in Compliance and Security Policies for consumers protection in this sector.
With InvestinGoal, Filippo’s goal is to bring as much clarity as possible to help users navigate the world of online trading, forex, and cryptocurrencies.

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