Whenever a pending order is set up, it is required that the desired price is set at minimum distance from the current price. This distance is known as the stop level, and is important to follow to successfully set pending orders as well as set take profit and stop loss.
Stop levels by pending order:
The stop level requirements are based on the type of pending order set.
|Pending order type
|Stop level requirement
|below current ask at -1 point
|above current bid at +1 point
|above current ask at +1 point
|below current bid at -1 point
Note: We do not have Stop Levels for the vast majority of our clients. The stop level values in the table above, values on instruments, and statistics on the Exness website are subject to change. It may not be available for traders using certain high-frequency trading strategies or Expert Advisors.
Aside from the stop level requirements, there are some important rules to consider:
- Pending orders where the take profit and/or stop level is the same as the current price cannot be set.
- Buy stop and sell stop cannot be set within the spread due to limitations inherent in the trading terminal.
- Stop loss cannot be set within the spread.
- Take profit can be set within the spread.
Price Gap Protection
Price Gap Protection is a safety protocol enabled on most Exness trading account types that aims to mitigate the impact of slippage; follow the link for more about Price Gap Protection. This protection is weakened when traders frequently place stop orders on prices very close to current prices and/or often modify these stop orders to remain near current prices; this is especially true during volatile or abnormal market conditions. Please note that Price Gap Protection may become limited on orders that approach stop orders in this manner.
In rare cases, even bigger stop levels may be introduced at up to 3 times the average spread of the trading instrument resulting in orders and modifications being automatically rejected by the trading platform. We recommend tracking market prices by market execution and/or instant execution as a better way to open an order on the market price.
Examples of pending orders
Current price: 1.20000/1.20006
A buy limit without take profit and stop loss can be set below 1.20006 but not above.
A sell limit without take profit and stop loss can be set above 1.20000 but not below.
A buy stop without take profit and stop loss can be set above 1.20006 but not below.
A sell stop without take profit and stop loss can be set below 1.20000 but not above.
Take profit can be set between 1.20000 and 1.20006, but not at 1.20000 or 1.20006.
Stop loss cannot be set between 1.20000 and 1.20006, nor at 1.20000 or 1.20006.
If you receive an invalid SL/TP error or the buy/sell button is grayed out, it is likely that the stop level requirements are not met as outlined above. For more information on this, follow the link to find out about invalid SL/TP errors.