From today, the maximum stop loss feature will be implemented for trades with all instruments on the platform.
eToro sets maximum stop loss to mitigate risks amid Greek troubles
Social investment expert eToro today published an update, announcing a change in trading conditions aimed at reducing risks amid the complicated situation in Greece and the consequences it may have on the eurozone.
As of today eToro is temporarily implementing the Maximum Stop Loss feature to ALL instruments on the platform.
For the time being, when setting a Stop Loss (SL) amount upon opening a position, traders will no longer be able to set the SL at a 100% of the invested amount. Instead, they will be limited to a maximum Stop Loss rate of 50% for all instruments available.
The move, which underlines eToro’s efforts to lower risks, comes as Forex companies are closely watching the developments around Greece and are trying to avert the negative effects from sharp movements in the price of EUR instruments.
Many companies, like FXPro, have sought to warn their clients of possible changes in trading conditions amid potential rise in Forex volatility. Others, like FXCM, have taken more decisive steps and have tightened margin requirements for EUR pairs.
To view the official announcement by eToro, click here.
David Hobart
David Hobart is Managing Director of FinAffiliates Limited, the UK media group behind LeapRate, AskTraders and a network of more than 30 financial and trading titles published across several languages and regulated markets. He writes on the commercial side of the industry: broker marketing, client acquisition, affiliate strategy and the editorial standards that hold it together. He is based in North Norfolk.
