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:
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Richard founded the Good Money Guide (previously Good Broker Guide) in 2015 and has been a broker for 20 years most recently at Investors Intelligence and previously a multi-asset derivatives broker at MF Global (Man Financial). Richard started his career working as a private client stockbroker at Walker Crips and Phillip Securities (now King and Shaxson) after interning on the NYMEX oil trading floor in New York and London IPE in 2001 & 2000.
