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Closing a Position after a Futures expiry date


CommuCo12

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How do I set up automatic rollover instructions for spread betting or CFDs?

 

You can set up automatic rollover instructions by logging in to My IG, going to the ‘settings’ tab and selecting ‘rollovers’, then following the instructions. Once rollovers have been set up on your account, you will receive a confirmation email.

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Just now, u0362565 said:

Does this essentially mean that a SB will not expire or be closed automatically purely for to date restrictions? 

Thanks 

yes, if you activate the auto rollover the position is kept open for the next period but you do pay the spread again. 

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Looking at the rollover rules document at:

https://deal.ig.com/content/files/140800_IGI_UK_Rollover_Rules.pdf

Copied from the document.

Quote

Rolling over a bet involves closing the old bet and opening a new one in the same size and direction as that of the original. Any profit or loss on the old bet will be realised to your account and you will have to settle any losses on the bet that has been closed.

 

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12 minutes ago, u0362565 said:

Ah ok so there is a time limit really thanks for that, important point.

I  trust Casey's comment  on that you should only get charged with the spread again at the date of expiry, as that has been the response every time someone asked the question, but then I read the document and it says something completely different. I think you need to give them a call and see the official response. We are not helping much here.

Edited by jlz
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19 minutes ago, jlz said:

I  trust Casey's comment  on that you should only get charged with the spread again at the date of expiry, as that has been the response every time someone asked the question, but then I read the document and it says something completely different. I think you need to give them a call and see the official response. We are not helping much here.

 

31 minutes ago, u0362565 said:

Ah ok so there is a time limit really thanks for that, important point.

ah yes, sorry got that wrong.

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