Futures contracts & Assets Expiration
Futures Contracts are agreements for buying and selling assets within a specified period of time. Most Futures Contract expiration dates range from 30 to 60 days.
- Trading prices on CFDs based on Futures Contracts change continuously during trading hours, and are dependent on the market.
- Contract Expiry: All trades automatically close at 20:00 GMT on date of expiration, regardless of loss or profit.
- Hours of trading may change due to market liquidity or holidays. Changes in the trading hours are published here.
CFD Expiry Date and Rollover-Option
All CFD’s have an expiry date on which the contracts are automatically terminated.
Certain CFD’s may come with a rollover option, which gives you the right to extend the contract if you choose to do so.
Unless you decide to extend the expiration date, all CFD contracts will expire on the predetermined date.
If you hold CFD contracts that are eligible for extension, you will receive a notification prior to their expiration with all relevant information about the option to extend the expiry date.
If you choose to extend (rollover) the expiry date of the contract, then an adjustment will be made to reflect the rate of the asset in the new contract. The adjustment will be based on the original opening rate, size and spread. If the new contract is trading at a higher price, Buy positions will receive a negative adjustment and Sell positions a positive adjustment. If the new contract is trading at a lower price Buy positions will receive a positive adjustment and Sell positions a negative adjustment.
Any existing pending order(s) (i.e. Stop Loss, Take Profit) placed on an instrument will remain the same and they will not be changed or adjusted to reflect any price differences between the expiring contract and the new contract on rollover date, at 20:00 GMT.
To reflect the new Future contracts, the account will incur a charge equivalent to half the spread of the CFD contract. It is therefore cheaper to roll over to the next contract than to close the trade yourself and then open a new contract. It is so, because when closing and opening a trade manually, you pay the full spread but in this case by rolling over you will pay only half the cost.