5 Best Brokers with Trailing Stop-Loss Order for 2024

List of Top Brokers with Trailing Stop-Loss Order

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

• We only selected brokers with a high overall score from our proprietary rating system.
• We checked each broker offers a trailing stop-loss order on their trading platforms.
• We tested the trading platforms for the number of available features and user-friendliness.
• We examined the broker’s trading fees and compared them to the industry average to ensure they were competitive and transparent.
• 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 trailing stop-loss orders?

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

Is the broker regulated?

Trading with a regulated broker, overseen by a well-known governmental financial authority is essential to ensure your capital is safe. Regulated brokers adhere to strict rules for handling client money and trade execution, with penalties for non-compliance.

Brokers are rated based on regulator tiers:

• Tier-1 Regulators (e.g., UK FCA, IIROC, CySEC, ASIC) enforce client fund segregation, offer negative balance protection, and require brokers to join compensation schemes for client protection against broker bankruptcy. Verify a broker’s adherence to their legal terms and the country’s regulatory register.
• Tier-2 Regulators (e.g., DFSA, FMA, FSCA), prevalent in smaller or emerging markets, provide reasonable investor protection with some enforcement on operational rules and client fund security, though not as comprehensive as Tier-1.
• Tier-3 Regulators (e.g., VFSC, Bahamas SCB), operating in less stringent jurisdictions, offer minimal investor protection with more relaxed rules, posing higher risks for traders.
• Unregulated brokers lack financial oversight and standard investor protections, such as client fund segregation or negative balance protection. Trading with them involves significant risk, including potential loss beyond initial investments, with no recourse in disputes or broker failure. Traders should be wary, understanding the risks and weighing them against the benefits of trading without regulatory safety nets.

Read more about Best regulated forex brokers.

Are the fees transparent and competitive?

The forex brokers listed on this page, all offer a trailing stop-loss order for free. However, there are other trading fees to take into consideration:

• 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.

While brokers will strive to impose the highest fees possible, opting for a broker with the lowest fees is better. However, you should take into consideration the safety of the broker first and foremost. You can assess a broker’s fees by reviewing their fee page on the website, reaching out to customer support, or opening a demo trading account.

If a broker’s fee information is difficult to identify and understand, it should be considered a red flag. A reputable broker will prioritize transparency and ensure that clients are well-informed about the competitiveness of their trading fees compared to the industry average.

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

How to choose the best account type?

In my experience, I have seen some brokers offer just one trading account and some offer up to seven. While these accounts may vary in minimum deposits, they are mostly differentiated by fees and can be generally categorized as either commission-free or commission-based.

In a commission-free trading account, there are no charges for buying or selling. Nevertheless, the broker usually increases the spread they receive from the interbank market to compensate. Consequently, commission-free accounts generally feature wider spreads.

Conversely, a commission-based trading account imposes a fee for buying or selling, as the price quotes are directly sourced from the interbank market and the broker’s liquidity providers. Consequently, commission-based accounts typically offer lower spreads.

The choice between these account types depends on the traders’ individual preferences and trading style. Beginner traders might find a commission-free trading account preferable, as most costs are incorporated into the spread, simplifying risk management decisions. However, an advanced trader may gravitate towards a commission-based account with lower spreads, which enables more precise trade execution.

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

How much leverage is available?

One reason forex and CFD trading is so popular is leverage. By trading on leverage, you can control a large position using a small deposit. It helps to magnify both winning and losing trades.

For instance, if a broker provides 1:30 leverage, you can initiate a forex trade valued at $30 with just a $1 deposit, effectively managing a position worth thirty times your deposit.

When trading on leverage, your profit and loss are calculated on the total trade value, not solely the margin deposited. If your account lacks sufficient capital to control the larger position, the broker may initiate a margin call. In such a scenario, the broker automatically closes your trades, potentially resulting in unforeseen losses.

Tier 1 regulators such as the FCA, CySEC, ASIC, and IIROC have implemented leverage restrictions for currency pairs, setting it at 1:30 for retail traders due to the inherent volatility of these markets. While some offshore brokers may offer higher leverage, caution should be exercised as you may be margin called unexpectedly and lose your entire trading capital.

Explore Best forex brokers with high leverage.

What trading platforms are available?

A trading platform serves as your gateway to the global financial markets. It needs to be fast, secure, and offer a wealth of useful trading features and risk management tools. Some of the most common 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 prefer brokers that provide multiple platforms that are accessible across different devices. This approach ensures that if there are any issues with one platform or device, I can seamlessly trade from an alternative, guaranteeing uninterrupted management of my account.

Check out our dedicated guides on Best forex trading platforms.

What platforms are most suitable for trailing stop-loss orders?

It’s important to note that MT4/MT5 are the most commonly offered trading platforms by brokers. While the desktop versions of these platforms support trailing stop-loss orders, for most brokers, the platforms need to be open for these orders to function, as the order is client-side rather than server-side. This is why many brokers offer Virtual Private Servers (VPS), allowing your platform to be operational 24/7. However, the web and mobile versions of MT4/MT5 do not offer trailing stop-loss orders.

The cTrader platform might be more suitable for traders using trailing stop-loss orders. This is because, whether you add a trailing stop-loss order via the desktop, web, or mobile app, it is server-side. This means the platform does not need to remain open for the trailing stop-loss to be effective. As cTrader is specifically designed for short-term traders, its features cater to such trading styles.

Regarding brokers’ own proprietary trading platforms, the availability of a trailing stop loss varies. For instance, AvaTrade’s web platform does not support it, whereas the web trading platforms of IG, eToro, and Plus500 offer this feature.

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

When selecting a forex broker offering the use of a trailing stop-loss order, beware of these red flags:

• Unregulated Brokers: If an unregulated broker decides to act fraudulently and steal your capital, there are no protections in place to reclaim your capital.
• Lack of Transparency: If you cannot easily identify a broker’s regulatory status, trading fees, and conditions, it’s a red flag and you should avoid them.
• No Physical Presence: If a broker does not have a physical office with employees in a well-established region, it’s another red flag that you should avoid.
• Unrealistic Profit Promises: Brokers that make extravagant promises of substantial profits often lack honesty and may operate without proper regulation.

How to avoid forex and CFD scams?

Unfortunately, the forex and CFD industry is plagued by scams. To steer clear of them, follow these guidelines:

• Trade Exclusively with Regulated Brokers: Limit your trading activities to regulated brokers 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 promptly is critical to ensuring a smooth trading experience.
• Conduct Due Diligence: Perform due diligence by reviewing online news articles and broker reviews to gather information and insights regarding the broker.
• Use Trusted Payment Methods: Only utilize payment methods for deposits and withdrawals you are familiar with and trust.
• Read Terms and Conditions: Carefully read the broker’s terms and conditions before entering into any agreements or commitments to understand the terms of your engagement thoroughly.

Our Methodology

To identify the best forex brokers with a trailing 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 offered by each broker to ensure a broad range of markets are available to trade on.
• 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 also confirmed that each broker offers a trailing stop-loss on any of the platforms they offer. We also ensured each broker is licensed and authorized to provide investment services and they offer competitive trading fees and a diverse range of markets to use a trailing stop-loss on.

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.

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