4 Best Forex Brokers with Guaranteed Stop-Loss Orders for 2024

List of Top Forex Brokers with Guaranteed Stop-Loss Order

The Role of Stop-Loss and GSLO in Trading

A stop-loss is an essential risk management tool in trading, allowing traders to set a limit on potential losses by exiting a trade at a specified price. However, the execution of a stop-loss order at the set price is not always guaranteed due to market gaps or low liquidity, potentially leading to larger losses.

Brokers may offer a Guaranteed Stop-Loss Order (GSLO), which ensures execution at the pre-set price regardless of market conditions. Utilizing a GSLO often involves conditions like a minimum distance from the current market price and a premium fee if activated. Understanding these mechanisms is vital for effective risk control in trading.

How did FXEmpire select the Best Forex Brokers with Guaranteed Stop-Loss Orders?

• We only selected brokers with a high overall score from our proprietary rating system.
• We checked each broker offers a guaranteed stop-loss order on their trading platforms.
• We examined the broker’s trading fees for competitiveness and transparency by opening a live account and testing them against the industry average.
• We tested the trading platforms for user-friendliness and the number of trading features and tools available.
• We verified the regulatory licenses for each jurisdiction where the broker operates.

Our team of experts has identified each broker’s strengths and weaknesses using FX Empire’s comprehensive methodology. Here’s how we test.

Now let’s go through the selected brokers.

How to choose a forex broker with guaranteed stop-loss orders?

Here is a quick guide on choosing the best broker offering a guaranteed stop-loss order.

Is the broker well-regulated?

When selecting a broker for trading, the utmost priority should be the safety of your funds and ensuring conflict-free trade execution. Opting for a regulated broker significantly enhances the security of your trading funds and the integrity of your trade executions.

Regulated brokers are under the strict supervision of governmental financial authorities, which monitor their activities to ensure they adhere to ethical and legal standards. Non-compliance by a broker can lead to severe consequences, including the loss of their operating license and substantial fines.

However, it’s crucial to recognize that not all regulatory authorities provide the same level of protection. In our broker rating reviews, we classify regulators into three tiers:

• Tier-1 regulators, such as the UK’s FCA, Canada’s IIROC, Cyprus’s CySEC, and Australia’s ASIC, are based in well-established financial jurisdictions. They offer the highest level of investor protection, mandating the segregation of client funds from company funds, and enforcing policies like negative balance protection. The FCA, CySEC, and IIROC also require brokers to participate in compensation schemes that protect client deposits up to a certain limit in case of insolvency.
• Tier-2 regulators, including the DFSA, FMA, and FSCA, operate in established but less renowned financial regions. They offer reasonable investor protection, though not as extensive as Tier-1 regulators.
• Tier-3 regulators, such as the VFSC, IFSC Belize, and Bahamas SCB, are based in offshore locations. These bodies provide minimal investor protection with limited oversight and regulatory requirements.

Read more about Best regulated forex brokers.

It is strongly recommended to avoid unregulated brokers, as they offer no safeguards against fraudulent practices. Trading with an unregulated broker poses a significant risk to your capital.

To confirm a broker’s licensure and authorization, you should consult the financial regulator’s online register in the country where the broker is based.

Are the fees transparent and competitive?

All brokers charge a fee, or premium, for using a guaranteed stop-loss order. This is because the broker needs to manage their risk carefully to provide you with a guaranteed exit price – even if the market does not trade at that price.

The premium paid will vary regularly as it depends on the expected underlying volatility of the market. If the market is very volatile with significant risks of price gaps, then the premium is likely to be higher than in a lower volatility environment. Brokers will state what the premium is on the order ticket.

How the premium is charged will differ between brokers. Most brokers listed on this page only charge the premium IF the guaranteed stop-loss order is triggered. So, if the market price went to your target level or you closed the trade early, there is no premium to pay. However, these brokers will usually require your guaranteed stop-loss price order to be a minimum number of pips, or points, away from the current market price.

Other brokers may charge the premium for a guaranteed stop-loss order upfront when you open a trade. This could be an additional charge, like a commission, or from widening the spread you pay when you open a trade.

There are additional trading fees that also merit attention:

• Spread: The difference between the buy and sell prices of a financial instrument.
• Commission: A fee incurred during the buying or selling process.
• Overnight or Swap Fee: The cost associated with holding a leveraged or margined position overnight.
• Payments: Fees linked to depositing or withdrawing funds.
• Inactivity: A charge applied in the absence of any trading activity over a specified period.

Evaluating a broker’s fees can be done by reviewing their fee page on the website, contacting customer support, or opening a demo trading account. If a broker’s fee information is difficult to comprehend, it should raise a red flag.

A reputable broker places a premium on transparency, ensuring that clients are well-informed about the competitiveness of their trading fees relative to the industry average.

Read more about Best lowest spread forex brokers and Best low swap fees forex brokers.

Which account type is the most suitable?

Based on my experience, I’ve seen that brokers vary in the number of trading accounts they offer, ranging from one to seven. These accounts typically differ in minimum deposit requirements and fee structures, generally falling into two categories: commission-free or commission-based.

A commission-free trading account has no charges for buying or selling. However, to compensate, the broker typically widens the spread received from the interbank market. As a result, commission-free accounts tend to have wider spreads.

A commission-based trading account will incur a fee to buy or sell, as the price quotes come directly from the interbank market and the broker’s liquidity providers. Consequently, commission-based accounts usually feature lower spreads.

The choice between these account types depends on individual preferences and trading styles. Novice traders may find a commission-free trading account preferable, as most costs are factored into the spread, simplifying risk management decisions. Conversely, advanced traders might lean towards a commission-based account with lower spreads, allowing for more precise trade execution.

Learn more about Best ECN forex brokers and Best STP forex brokers.

How much leverage is available?

The rise in popularity of forex and CFD trading can be attributed to leverage. This allows traders to control a large position using a small deposit.

For example, with a broker offering 1:30 leverage, a trade worth $30 can be opened with just a $1 deposit, enabling the management of a position thirty times the value of the initial deposit.

When trading with leverage, the calculation of profit and loss is based on the total trade value, not solely the deposited margin. If your account lacks sufficient capital to sustain the larger position, a margin call may be triggered by the broker. In such cases, the broker automatically closes your trades, potentially leading to unexpected losses.

Tier 1 regulators, such as the FCA, CySEC, ASIC, and IIROC, have implemented leverage restrictions for currency pairs, limiting it to 1:30 for retail traders due to the inherent volatility of these markets. While some offshore brokers may offer higher leverage, caution is advised, as unexpected margin calls may lead to the loss of your entire trading capital.

What trading platforms are available?

A trading platform is your gateway to the financial markets. It must be fast, and secure and offer useful trading and risk management tools. Several commonly used trading platforms include:

MetaTrader 4: The ‘go-to’ forex trading platform which has excellent charting capabilities, technical analysis tools, and automated trading features. Read more about best MT4 brokers.

MetaTrader 5: An updated version of MT4 with more indicators, timeframes, and markets. Read more about best MT5 brokers.

cTrader: A platform specifically designed for high-frequency traders and scalpers. Read more about best cTrader brokers.

TradingView: A browser-based social trading platform with advanced research tools and access to global markets. Read more about best TradingView brokers.

In-House Proprietary Software: Some brokers may invest in having their own proprietary trading software.

I favor brokers that offer multiple platforms accessible across different devices. This approach ensures that in the event of issues with one platform or device, I can seamlessly switch to an alternative, guaranteeing uninterrupted management of my account.

Most third-party platforms do not offer a guaranteed stop-loss order as it is not a standard risk management tool. Only a handful of brokers offer a guaranteed stop-loss order, and they will only do so through their proprietary platform. This is because the broker needs to manage their risk carefully and hedge their exposure to guarantee the price of your execution.

Check out our dedicated guides on Best forex trading platforms.

All the brokers listed on this page offer guaranteed stop-loss orders on their own trading platforms, which are feature-rich and have more trading and risk management tools than some of the other popular third-party platforms.

What to avoid when choosing a forex broker with guaranteed stop-loss orders?

When considering a forex broker that offers the option of a guaranteed stop-loss order, be cautious of the following warning signs:

• Unregulated Brokers: Opting for an unregulated broker exposes you to significant risks. In the event of fraudulent activities, there are no protective measures in place to aid in the recovery of lost funds.
• Lack of Transparency: Difficulty in comprehending a broker’s regulatory status, trading fees, and terms is indicative of a lack of transparency. This absence of clarity is a red flag, suggesting that the broker may be attempting to conceal important information.
• No Physical Presence: Brokers lacking a physical office and staff in a reputable region should raise concerns. Reputable brokers typically maintain offices in well-known financial regions and employ a substantial workforce to oversee their operations.
• Unrealistic Profit Promises: Brokers that make exaggerated and unrealistic claims about substantial profits are likely not being truthful. It is crucial to bear in mind that all trading involves risk, and assurances of high profits often point to dishonest practices.

How to avoid forex and CFD scams?

Unfortunately, the forex and CFD industry is rife with scams. To safeguard yourself from these, adhere to the following guidelines:

• Trade Exclusively with Regulated Brokers: Restrict your trading activities to brokers that are regulated, and verify their licenses on the official regulator’s website.
• Confirm Physical Office Presence: Ensure the broker operates from a physical office within a jurisdiction governed by a robust and credible regulatory framework.
• Access to Live Customer Support: Access to live customer support to address any concerns or issues is crucial for ensuring a seamless trading experience.
• Conduct Due Diligence: Perform due diligence by reviewing online news articles and broker reviews to gather information and insights about the broker’s reputation and reliability.
• Use Trusted Payment Methods: Only use payment methods for deposits and withdrawals you are familiar with and trust.
• Read Terms and Conditions: Thoroughly read the broker’s terms and conditions before entering agreements.

Our Methodology

To identify the best forex brokers with a guaranteed stop-loss order, we evaluated brokers using our proprietary rating system which analyzes 250 data points across nine core categories:

• Trustworthiness: We verify the broker’s license to operate by confirming their authorization and regulatory status with the regulator in their jurisdiction.
• Fees: We test how competitive a broker’s trading fees are by opening a live trading account and comparing them to the industry average.
• Trading platform and tools: We assess the broker’s trading platforms’ user-friendliness, ease of access, trading tools, and features.
• Tradable instruments: We examine the number of tradable instruments each broker offers to ensure a broad range of markets are available.
• Customer support: We engage with the customer support team through different channels to test the ease of access, knowledge, and helpfulness.
• Payment methods: We examine the different deposit and withdrawal methods to check their fees and processing times.
• Account types: We check the different elements of each account type and examine their execution methods, minimum deposits, and any additional features.
• Research and education: We explore the quality and depth of each broker’s research and educational materials.

Here you can learn more about our review process.

For this guide, we checked if each broker offers a guaranteed stop-loss order on their trading platforms. We evaluated the competitiveness and transparency of their trading fees, opened live accounts, and compared their fees against the industry average. Additionally, we tested the trading platforms for user-friendliness, as well as the range of trading features and tools they offer. Finally, we verified the regulatory licenses for each jurisdiction where the brokers operate.

Meet Our Writers

The team of forex and CFD writers and editors at FX Empire is composed of trading industry professionals and seasoned financial journalists. Our writers have been published on leading financial websites such as Investopedia and Forbes. In addition, they all have extensive trading experience.

Related Broker Guides

• Best Forex Brokers
• Best CFD Brokers
• Best Brokers with Trailing Stop-Loss Order
• Best High-Frequency Trading Forex Brokers
• Best VPS Hosting Forex Brokers
• Best Automated Trading Brokers and Platforms
• Best Forex Brokers for Options Trading
• Best Forex Trading Signal Providers

FAQ