Hi, I'm trading through 2 prop firms, who GUARANTEE a stop-level, meaning, no matter what happens in the markets or with my trading, they will stop me if I make a certain amount of loss (20% or 30%). This is to guarantee my employer and clients. Now I wondered if anyone knew of any bank that can offer trading facilities on fx (spot) and can GUARANTEE that they can stop me out @ a certain level? If you know, either PM me or give me a call on +44 (0)7704 708 873. Cheerios! Alex
Noone can and noone will "guarantee" prices on stop orders in this market as well as any other market. Here is for example what the SEC says about this: "once your stop price is reached, your stop order becomes a market order and the price you receive may be much different from the stop price, especially in a fast-moving market where stock prices can change rapidly". this applies to forex as well. Look at the contents of the Series 3 exam that every broker in futures/forex should take and it will tell you that there is no such thing as a price guarantee. Beware of shameless reps who try to lure in your cash by using marketing ploys such as this one.
If you trade trough CFDs or SB many firms offer controlled risk trades that give you certainty that your positions will be closed @ exactly the level you've chosen. That's because they are taking the opposite side of each and any trade you enter and they make a lot of money on the huge premium you have to pay. If you trade the 'real' market the controlled risk solution cannot be implemented for obvious reasons. P
i dont think they will uphold it if their back is really against the wall... a price guarantee means a guarantee of infinite liquidity at a given price... which is absurd.