Future contracts expiration on a spread-betting account

[VIM]

Hi,

just wanted to check what is the default option on a spread-betting account if I hold a commodity futures contract which is expiring on a specific day and I do nothing?

Would it be automatically rolled over (with all the spread and fees costs) or simply closed at the last quoted price?  I've read the "market information" section on the app but it looks quite confusing because it indicates both options but doesn't say which one is the default one...

Any piece of advice would be most appreciated. 

[OfentseIG]

38 minutes ago, VIM said:

Hi,

just wanted to check what is the default option on a spread-betting account if I hold a commodity futures contract which is expiring on a specific day and I do nothing?

Would it be automatically rolled over (with all the spread and fees costs) or simply closed at the last quoted price?  I've read the "market information" section on the app but it looks quite confusing because it indicates both options but doesn't say which one is the default one...

Any piece of advice would be most appreciated. 

Hi @VIM

Automatic rollovers are enabled by default on open positions on futures contracts.
If you don’t want your futures trades to be automatically rolled over at expiry, change 'rollovers status' on  your MY IG. 

You can enable or disable. 

All the best, 

OfentseIG

[VIM]

45 minutes ago, OfentseIG said:

Hi @VIM

Automatic rollovers are enabled by default on open positions on futures contracts.
If you don’t want your futures trades to be automatically rolled over at expiry, change 'rollovers status' on  your MY IG. 

You can enable or disable. 

All the best, 

OfentseIG

Thanks! V helpful!