CMC Markets in Canada is announcing the launch of GSLO (guaranteed stop-loss order) for Canadian traders. Launched this week, it means CMC will be the first and only trading platform offering this type of stop loss order in the country.
GSLO is a new guaranteed way to trade, with full protection for unexpected market movements, ensuring that a trade is closed out at the set limit regardless of market gapping on market open.
In differentiation from other stop-loss products, GSLO guarantees your trade will be executed at the price you specified, regardless of any changes to the market overnight or during off-market hours.
This new product is particularly important with equities/currencies where gapping on traditional stop loss orders is relatively common, especially in a particularly volatile and unpredictable market.
Effectively, the ‘Guaranteed’ in Guaranteed stop-loss order means that clients are protected from unexpected movements in the market. A GSLO costs an additional premium but is refunded if it is not executed.
Summary of the new service for traders
In differentiation from other stop-loss products, GSLO guarantees your trade will be executed at the price you specified, regardless of any changes to the market between market close and open.
The current global economic environment is volatile and often unpredictable – events after market hours can cause wild price swings before a regular stop loss order can actually take effect.
CMC Markets’ GSLO product is the only stop loss product which is guaranteed to actually stop at the appointed price. CMC Markets says it wants to give their clients and traders a more secure way to trade on their platform in an ever-evolving market.