Clarification needed please

[JG46]

Query from a newbie!

I Opened a position on ARM Holdings on 19/02/24 at 16:45 and straight away I was showing a £113 loss. But there seemed to be no candles being generated and the loss figure didn't alter.

I eventually Closed the position at 19:42 and the loss figure hadn't changed.

I then noticed that the full title of the position was showing as "ARM Holdings PLC - ADR MAR-24".

Am I correct in now realising that the positioned I Opened was not like the FX markets in that they are trading most of the time, but would be sorted out on 1st March 24?

Thanks.

[AshishIG]

10 hours ago, JG46 said:

Query from a newbie!

I Opened a position on ARM Holdings on 19/02/24 at 16:45 and straight away I was showing a £113 loss. But there seemed to be no candles being generated and the loss figure didn't alter.

I eventually Closed the position at 19:42 and the loss figure hadn't changed.

I then noticed that the full title of the position was showing as "ARM Holdings PLC - ADR MAR-24".

Am I correct in now realising that the positioned I Opened was not like the FX markets in that they are trading most of the time, but would be sorted out on 1st March 24?

Thanks.

Hi @JG46,

It seems that you may have opened a position on a Forward contract instead of a Cash contract. Forward contracts have set expiries and prices derived from future contracts, resulting in wider spreads due to charges and interests. This may have caused your position to be in a loss initially unless there is a price movement.

All the best,
AshishIG