What is an IF / THEN order?

An ‘IF / THEN’ order is a way to automatically create either an unattached stop or a limit order (the ‘THEN’ part), if an initial order is filled (the ‘IF’ part).

You do this by adding the distance away from your initial order (in pips) that you want either a stop or limit order to be placed. If your initial order is filled, then either the stop or limit will be created that distance away from the fill price.

Unattached orders are not linked to a particular position and aren’t affected by any changes to your open positions—this means that once it has been created, you will have to manage it separately. If you cancel an order before it is filled, the ‘IF / THEN’ order is also cancelled.