Top 10 Best Brokers with Trailing Stop Loss
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If you are a new or expert trader, you might have come across the statement, “cut your losses short, and let your profits run.” Nevertheless, if it is your first time hearing it, then you need to implement this wisdom to your trading. Using a trailing stop loss, which is always offered by the best forex brokers in the market, will help mitigate your risk.
Trading the forex market is never an easy thing. Without the right broker, every effort can be wasted. Therefore, we have gathered the brokers with trailing stop loss for your forex trading in this write-up. In this article, we provide a summary of these brokers for you to decide on your trading.
Table of contents
Trailing Stop Loss: What is it?
To understand what trailing stop loss is all about, you need to know what a stop loss is. A stop loss is an order you set when you want to buy or sell a particular asset once it reaches that price. The stop loss is designed to minimize your losses once the price goes against your prediction.
However, a trailing stop is a modification of a stop loss, which you can predetermine at a particular value or percentage. Unlike the stop-loss order, the trailing stop loss locks your profit and closes your position in profit once it doesn’t go your way. If the price keeps going upward, the trailing stop loss keeps increasing pending when it reaches your take profit level or hit the trailing stop loss level.
Top Ten Brokers with Trailing Stop Loss
Today, the number of brokers in the financial industry is on the rise. These brokers offer several different features to attract clients to their platforms. However, whatever feature you are looking for a broker, an important thing to consider is a trailing stop loss. Here is a list of the best top forex brokers.
eToro
eToro is a prominent Israeli company that offers social trading in the forex industry. It is highly regulated by the Cyprus Securities and Exchange Commission, Australian Securities and Investment Commission, and the Financial Conduct Authority. It is the go-to trading broker because of the social trading experience, seamless account opening, free stock, and ETF trading.
eToro is among the top-notch platform that offers the trader a trailing stop loss feature on its proprietary platform. Besides this, it also renowned as part of the famous STP broker within the industry, which has enabled it to win several awards.
In terms of fees, it offers low trading fees on forex and CFD products. Deposit and withdrawal methods are straightforward with several options, including credit and debit cards. Nevertheless, it allows only USD accounts with other currency converted to the US dollar equivalent.
Finally, the high point of eToro is its copyTrader feature that allows traders to copy trades of professional traders. The CopyTrader feature makes it possible to copy up to 100 traders simultaneously with a little investment of $200. Both customer service and educational resources are excellent. However, the only drawback we discover is the high non-trading fees and the conversion costs on deposit.
Pepperstone
Pepperstone is an Australian-based forex broker established in 2010 to offer crypto and forex-related services to customers worldwide. It is a reputable broker with offices in major cities such as London, Dallas, Bangkok, and Melbourne.
It provides trailing stop loss on cTrader, MetaTrader 4, and MetaTrader 5. Throughout the years, it has differentiated itself as a reliable ECN/STP broker with several educational materials, including webinars, trading videos, and blogs. Furthermore, it provides top-notch customer service with quick responses to customer issues.
Pepperstone has a minimum deposit of $200 with spreads starting from 0 pips. With several deposit and withdrawal options such as Bpay, Skrill, bank wire, credit/debit card, etc., you can get your trading started.
Pepperstone offers traders two account types with unique features. The standard account has no commission basis with institutional-grade STP spreads starting from 0.1 pips, whereas the Razor account has a spread of 0.0 pips with commissions from $3.5.
It also offers high leverage of 1:500 in the forex market, which traders can benefit from. Nevertheless, United Kingdom residence can only use maximum leverage of 1:30 forex instruments. Overall, Pepperstone is a good broker that allows trailing stop loss and a free demo account that lasts for 30 days.
Admiral Markets
Admiral Markets is a globally regulated forex broker that offers excellent services to traders. It is regulated by the Cyprus Securities and Exchange Commission, Australian Securities and Investment Commission, and the Financial Conduct Authority. It provides access to over 8000 financial instruments, including Shares, bonds, cryptocurrency, ETFs, Indices, CFDs for commodities, and forex. All of these assets are tradeable on MetaTrader 4 and MetaTrader 5. Admiral provides access to these platforms through mobile, web, Mac, and Windows. Notably, the trailing stop feature is available for both platforms.
Like other brokers, it has an impressive range of market research via trading central that includes market analysis on Shares, commodities, indices, and forex. Additionally, traders can view market sentiment, analytics, heatmaps, etc. Impressively, it provides unlimited educational resources that cut across various aspects of the financial market and suitable for both beginner and advanced traders. These resources include eBooks, trading videos, trader’s blog, online courses, and webinars.
In terms of deposit, it offers fee-free options for all method except Neteller and Skrill that has minimum fees attached. You can withdraw twice a month without paying any fee. However, bank transfer withdrawal attracts a little fee. Furthermore, Admiral remains one of the best STP brokers with customer support offered in several languages through phone and live chat. Admiral has a great range of account choice, with a minimum deposit starting from just $1.
AvaTrade
AvaTrade is a renowned broker with over 200,000 traders worldwide. With regulation in 5 continents, it offers customers sophisticated trading solutions with adaptable platforms and tools at their disposal. AvaTrade has its headquarter in Dublin, Ireland, with operational regional offices in Beijing, Madrid, Dublin, Chile, Paris, UAE, Mongolia, South Africa, Sydney, Nigeria, and Tokyo.
It is a heavily regulated broker with an excellent reputation and offers trailing stop loss for both MetaTrader 4 and MetaTrader 5. Besides this, it offers both forex and CFD cryptos asset with several trading tools. New traders can leverage the free demo account to hone their skills. Additionally, there is a wide range of withdrawal and deposit options with quality customer support that offers fast and swift responses.
The minimum deposit allowed is $100, depending on the account type you choose. It offers a single standard account with certain conditions for Islamic or corporate accounts. AvaTrade has a fixed spread, which starts from 0.9 pips. Furthermore, the professional account is suitable for traders with experience in the industry as it comes with additional benefits.
To ensure traders get the latest information about the industry, it provides an educational section on its website with high-quality resources. It includes tutorials, webinars, superior-level educational text, and videos.
FXTM
FXTM is a highly respected forex broker that offers over 250 financial instruments covering stocks, metals, indices, commodities, and currencies. With several trading accounts available, you will always find one that suits your need. The trading account is divided into two categories – standard and ECN account. Whatever option you choose, it offers commission-based trading with a minimum deposit and low spread. The spreads start from 0.0 pips to 1.5 pips, depending on the account type.
It uses the traditional MetaTrader 4 and MetaTrader 5 with trailing stop features added to the Terminal window. Traders have access to research and educational resources, including eBooks, webinars, videos, and seminars. It offers traders a 24/7 customer support system through email, telegram, and live chat.
With over six accounts comprises two categories, traders can choose the account that suits their trading. Each account has unique features that separate it from the other. Additionally, it offers several withdrawal and deposit options with a minimum deposit of $10 depending on the account.
Undoubtedly, one of the highly regulated forex brokers in the industry that allow trailing stop features through different trading platforms. FXTM provides a competitive platform for both beginners and professional traders with various tools and analyses to navigate the forex market.
Plus500
Founded in 2008 in Israel, Plus500 is a CFD broker with regulation from top-tier regulators in the industry, including the Australian Securities and Investments Commission and the Financial Conduct Authority. Users can trade over 2500 financial instruments, including cryptocurrencies, options, shares, commodities, forex, and indices.
It has a simple and easy-to-use website with a well-designed mobile platform. Besides the traditional MetaTrader, it offers its own proprietary platform that enables traders to use the trailing stop feature. The account opening process is seamless, with a minimum deposit of $100. It also offers an unlimited demo account for new traders through its proprietary platform through mobile and desktop.
Generally, Plus500 is a great broker with experience in the industry and offers negative balance protection, fixed spreads, and low fees during trading. Experienced traders will appreciate the advanced tools and charting analysis feature that enables them to analyze the market. Furthermore, it offers educational resources, including videos and seminars. Nevertheless, the drawback we discover is that there is no webinar in its educational section.
IG Markets
Although not a famous name you would hear when looking for a broker, IG Markets has distinguished itself as a superior broker operating in the financial market. With over three decades of experience, it offers various products and services. It is one of the few brokers that support automated trading with asset selection.
With new traders venturing into the financial market, IG Markets provide the IG Academy to offer an educational platform for these novices. Research and market commentary are available daily, thereby giving traders new insight and perspective about the market. It claims to be the only UK broker that offers ProRealTime charts while providing an extensive upgrade package to the MetaTrader 4 platform.
IG Markets provide the Trailing stop feature to help mitigate risk on the MetaTrader 4 platform and its proprietary trading platform – ProRealTime for Spread Betting and CFD. However, it is not available for the L2 dealer platform and shares dealing platform. Generally, if you want to trade shares, it has certain limitations. Indeed, IG Markets is a unique broker with over 17,000 instruments and a market marker broker available for US traders.
Besides the spread betting and CFD trading, it offers non-leveraged traditional brokerage services to traders.
Fusion Markets
Fusion Markets is a professional trading platform established in 2017 and provides access to over 120 financial products. It is an excellent platform for commodity and forex trading with no restriction on the minimum account size. It offers traders a leverage level of up to 1:500 and trailing stop loss on MetaTrader 4 through desktop and mobile platforms. However, it doesn’t provide any webtrader platform, meaning you can only trade with its mobile app and desktop platform.
Fusion Markets allows traders to set up zero or classic accounts for professional traders. For new traders, it allows the free demo version to understand how the market works. It doesn’t offer a swap-free account like most forex brokers with trailing stop loss offer in the industry.
In striving to serve its customer better, it provides several funding methods, including debit and credit cards through Visa and MasterCard. Currently, there is no minimum deposit required with raw spreads starting from 0 pips. Additionally, it has a competitive commission fee of $4.50 for its Zero account.
Fusion Markets provide a cost-effective experience for new traders with a highly reliable and efficient environment. It offers several trading instruments with the lowest commission charges you can hope for in Australia.
XTB
With over 5,200 tradable assets and 49 currency pairs, XTB is among the prominent brokers in the market. It is one of the leading forex and CFD trading company in Europe that offers traders different markets, including commodities, shares, forex, cryptocurrencies, ETFs, and indices. It offers traders its unique xStation 5 platform.
The trailing stop loss feature is available for both platforms. However, the trailing stop feature is only for old clients. When using XTB, the trailing stop order can trigger even if the platform is not open. Nevertheless, when using the xStation, the trailing stop can work even if you log out of the platform.
With more than 16 years of providing quality service in the financial market, it is fully regulated and the best place to begin trading.
For new traders, the educational section contains every relevant information you might need to up your game. There are no minimum deposit fees attached to creating an account with a spread starting from 0.2 pips. It also offers a swap-free account for traders and a quality customer support system to handle every challenge customers might face while trading. Overall, XTB doesn’t disappoint in delivering fast execution to trades.
Axi
Formerly known as AxiTrader, Axi is an Australian-based forex broker founded in 2007 with offices in London. It offers different account types such as standard and MT4 Pro Account. The standard account has no minimum deposit with spread starting from 0.4 pips with zero commissions. However, the MT4 Pro account has every feature of the standard account with spread starting from 0.0 pips with a commission fee of $7.
While you can set the trailing stop feature on the MetaTrader 4 platform, it is not allowed if you are using the android app. It offers various market instruments, including commodities, stocks, indices, energy, forex, and more.
Like other brokers, it has a seamless registration process, customer support system, and adequate educational resource that includes technical and sentimental analysis. Indeed, Axi is a reliable broker and highly regulated with unique service to clients.
Round-up of the best brokers with trailing 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
| Trailing Stop | Guaranteed Stop Loss | Minimum Deposit | |
|---|---|---|---|
| eToro | Yes | No | $200 |
| Pepperstone | Yes | No | $200 |
| Admiral Markets | Yes | No | $1 |
| AvaTrade | Yes | No | $100 |
| FXTM | Yes | No | $10 |
| Plus500 | Yes | Yes | $100 |
| IG Markets | Yes | Yes | $250 |
| Fusion Markets | Yes | No | $0 |
| XTB | Yes | No | $0 |
| Axi | Yes | No | $0 |
Trailing Stop Loss vs. Trailing Stop Limit
Trailing stop loss and trailing stop limit are used in two different situations. A trailing stop loss allows you to create a market order where you get kicked out of the market once the price reaches the set level. Most times, a trailing stop loss usually ends with a loss on that particular trade.
However, a trailing stop limit is an order that triggers a limit order immediately it reaches the stop price value. It means your order only executes once the price reaches the current limit or a better limit level.
It can be confusing for new traders, but trailing stop limit orders offers better control over trades than trailing stop loss. Furthermore, using a trailing stop limit is riskier because you can lose your capital if the price falls abruptly.
Pros and Cons of Trailing Stop Loss
Pros
- A trailing stop-loss allows you to minimize your loss peradventure price moves against your initial direction
- It doesn't come with any additional cost
- A trailing stop-loss order is flexible
- It allows your trade to stay open while the price moves in your position
- It is your best bet when the market price moves towards your favor
Cons
- In a very volatile market, trailing stop losses can become very risky
- There is no guarantee that you will receive the price of the stop-loss order
- The price markers don't always move perfectly
Brokers with Trailing Stop Loss FAQs
What is the difference between a Trailing Stop Loss and a basic Stop Loss?
The primary difference between a trailing stop loss and a basic stop loss is that once the price goes in the direction you predict, the trailing stop loss follows the market. However, a basic stop loss remains at that level even when the price is moving upward.
Do many brokers offer the Trailing Stop Loss feature?
The forex market comprises different brokers that offer unique features and products. An essential feature that most brokers offer is the trailing stop loss feature.
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