What is the minimum Stop Loss on cryptocurrencies?
Since 28 March 2018, cryptocurrency trades are opened with no Stop Loss by default. You may apply a Stop Loss order after the position is opened, according to the instrument's rate or to a specific amount.
On cryptocurrency trades that are in profit, the minimum Stop Loss amount is 10% of the initial amount invested subtracted from the current value of the trade. The formula is as follows:
- Profit - (Invested amount X 0.1) = Minimum SL amount
On cryptocurrency trades that are losing up to 10% of the amount invested, the minimum Stop Loss amount is 10% of the initial amount invested. The formula is as follows:
- Invested amount X -0.1 = Minimum SL amount
On cryptocurrency trades that are losing more than 10% of the amount invested, the minimum Stop Loss amount is 1 pip away from the current market rate.
