Stop-if-bid order

Stop-if-Bid orders are commonly used to buy the specified instrument in a rising market. If the price level specified is actually bid on the market, the order will be filled at the price offered by the bank.

For example, if you sold GBPUSD at 1.4280, with a Stop Bid at 1.4330, the position would be closed (GBPUSD would be bought) if the Bid price hits or breaches 1.4330.

We recommend the use of Stop-if-Bid orders only to buy Forex positions.

The use of Stop-if-Bid to sell Forex positions can result in positions being prematurely closed if a market event causes the Bid/Ask spread to widen for a short duration.