Why can’t I place a tighter stop loss with most brokers? Why do they limit the stop loss from being less than 20 pips from the price?
Thanks
Aqua
Most odd 
All the brokers I know of allow much tighter stops. Its not a plug but try demo’ing FXCM (UK) its the one I use for my private account and I have no complaints with their stops. When scalping I use a one button trade trigger with a fixed 10 SL & TP with no problems. 
Yeah you should be able to do what R Carter says. Maybe your default stop loss is at 20 pips but you could change it. (if that’s the case).
If not try another broker.
Another thought comes to mind is what pair are you trading?..some “exotic” pairs can have really big spreads. Then again, if you are trading the first few hours when the market opens, the spreads can be quite large then too even on the majors before getting back to normal.
Are you sure it’s not 2 pips? If you’re using a 5 digit MT4 broker it will say 20 pips, but it’s really 2.
According to your picture I’m pretty sure that 10pips is accounting for the 5th decimal point. In this case it really means your stop can be no less than 1.0 pips away or 10pipettes (the decimal included in that number).
nope it is actually 10 pips, see if I try to take a 5 pip stop on my trade it adjusts the price in pips not pippets, but I am still unable to open it due to it being <10.
In that case the best advice I can offer is to get a better broker.
IBFX let’s me place stoplosses of 5 pips. I’ve never gone any lower than that so I don’t know how low it actually goes.
Yeah I intend to, I am still learning & one of those that prefers to practice with small amounts of real money. Besides for the way I am trading the Stops aren’t really an issue as I prefer the 1h & 4h charts.