A guaranteed stop-loss order (GSLO) works similarly to a stop-loss order. However, in guaranteed stop-loss order, regardless of how volatile the market is, you are assured that they will close the market for you at the price that you will specify.
A guaranteed stop-loss order helps to minimize the losses that you will get while trading in CFDs.
GLSO is mostly useful in a highly volatile market where the prices are dynamic, and at a particular time, they suddenly change.
In guaranteed stop-loss orders, you are required to pay a premium, unlike other stop-loss orders such as the trailing stop-loss order. Guaranteed stop-loss orders charge a bonus since the broker may not sell an asset at a price given. This helps to cover the broker against losses.
GLSO's are most useful when you are trading share CFD on leverage. Share CFD are prone to slippage; hence GLSO's come in handy to minimize the high risk of losses.