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Stop Loss Orders |
A Stop Loss Order is a trading mechanism used to purchase a currency at a predetermined rate of exchange below the current market position, this contract is GTC (good till cancelled) or the level of exchange pre-agreed is achieved. This type of facility is often used where the foreign exchange markets are unstable and this price acts as a safety net to protect the client to purchase at what they perceive to be the lowest acceptable rate of exchange. Upon completion of this contract either the deposit if a Forward Contract or the full balance relating to Spot Contracts is to be paid in full within two days of this contract being executed. |
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