If there was ever a time when you may need a guaranteed stop it’s probably now. The EU Referendum result is going to make FX and Index prices move a massive amount in one way or another.
IG, one of the largest index and forex brokers in the UK has reduced the cost of adding a guaranteed stop by removing the initial charge so you only pay a premium if it is triggered.
This is good news if you are planning on having an open overnight positions over the Brexit result announcement.
The note to clients read:
From 4 July you’ll be able to add guaranteed stops to your positions without any upfront premium, and potentially completely free of charge.
|You’ll only pay a fee when your guaranteed stop is triggered – if the stop isn’t activated, we won’t charge you for adding it|
|You’ll soon be able to add a guaranteed stop to an open position, plus edit or remove existing guaranteed stops|
To reflect these changes, we’ve made some alterations to your customer agreement. Please take a moment to read through the details below.