Stop Loss and Take Profit orders can be two extremely valuable trading tools that close your deals automatically, enabling you to better manage your risk and providing you with more control over your funds and open deals. Note that in certain cases (high volatility, market gap, etc.), these limits might not be executed at the exact level that was set, but at the 'next best rate' available (slippage). Please see our order execution policy for more information.
Another advantage of Stop Loss and take Profit orders is not having to constantly manage your open deals. Since many CFD instrument markets on the iFOREX platform run 24 hours a day, or in different time zones, you’d need to stay awake for 24 hours to monitor your deals, so they both can come in handy.