General notes
i) All details are correct at time of going to press.
ii) London Capital Group Ltd reserves the right to alter the contract specifications at anytime and to widen spreads in times of excessive market volatility.
iii) All times stated are UK times.

Maximum Computer Generated Stop Level (Max CGSL)
The Max CGSL is the Maximum Computer Generated Stop Level. This is the maximum figure used to automatically allocate a stop loss on newly opened positions. The trading system will assign a stop level based on 80% of the CGSL if there are sufficient funds on the account. For instance, if you have £2000 in your account and you trade the Daily FTSE at £10 per point, the system will automatically allocate a stop loss of 120 points (because the Max CGSL for the Daily FTSE is 150 and 80% of 150 is 120) and you would also have £500 remaining as available funds on your account. Alternatively, if there are insufficient funds to cover the Max CGSL, the system will allocate the stop level based upon 80% of the available funds (see following details). The Max CGSL varies depending on the product.

Minimum Initial Margin Requirement (Min IMR)
The Min IMR is the Minimum Initial Margin Requirement. You can calculate the minimum level of funds required to open a new position by multiplying the Min IMR by your stake. For example, the current Min IMR for the UK 100 Index Future is 30 – the stop will be set to 80% of Min IMR which is 24points in this example. Therefore, if you wished to trade £5 per point, you would need a minimum of £150 available funds on your account (30 x 5 = 150). The Min IMR varies depending on the product. 

Saxo Bank Financial Spreads Stop Loss Policy
Saxo Bank Financial Spreads automatically creates a Stop Order for every trade opened. This Stop is based EITHER on 80% of the CGSL OR on 80% of the available funds on your account. You may amend your Stop to whatever level you desire, assuming you have sufficient unencumbered funds available in the account, and that your required stop is outside the minimum stop order distance allowable for that market. Although this Stop does go some way towards limiting your risk on your open trades you must be aware that all orders including Stops are subject to market gaps unless you specified for your Stop to be guaranteed (see below and clause 7 in the Terms and Conditions).

Guaranteed Stop Orders
Saxo Bank Financial Spreads now offer Guaranteed Stop Orders. With Guaranteed Stop Orders you can trade safe in the knowledge that, should a market gap through your stop level, you will not suffer any extra losses from the slippage and you will be stopped out at the level you requested. As Guaranteed Stop Orders are a form of insurance against market gaps, they come at a small extra cost. Firstly, there's a premium you have to pay for selecting your mandatory Stop to be guaranteed and secondly, it needs to be placed further away from your entry level than if it was a non-guaranteed Stop. When instructing us to attach a Guaranteed Stop Order to an existing open position, an opening trade, or a new order, we will charge a premium by executing a cash debit to your account. Opting for your Stop to be guaranteed will also recalculate the minimum distance away from your opening trade.
Further details of the premiums and minimum distances can be found below.
LCG will not quote any markets outside of its opening hours which are generally Sunday 22:00 to Friday 21:15, UK time.

Limited Risk Accounts
Saxo Bank Financial Spreads offer Limited Risk accounts. A Limited Risk account helps minimise the risks of trading by associating a Guaranteed Stop Order with all your opening positions. Depending on your level of experience and financial situation you may be steered towards this account when you apply. Once you have some experience you can always contact Customer Support to request to swap your account to a standard account which means you will have the option of placing Guaranteed Stop Orders if you wish but these will not be mandatory.
As mandatory Guaranteed Stop Orders are essentially a form of insurance against market gaps, they come at a small cost. This premium will be debited from your account when you place a trade. You should also note that by opting for a Limited Risk Account your Stop will need to be placed further away from your entry level than if you selected a standard account where Guaranteed Stop Orders are not mandatory.