Question: Does all symbols have contract rollover dates? What happens to these future contracts?
Notice
This FAQ has ended its release period. Please check iFOREX's latest information and campaign on iFOREX's company introduction page.
iFOREX - What's now?
We are no longer promoting iFOREX. The information regarding to iFOREX on the website 'Hercules.Finance' maybe outdated. ref. iFOREX
Every CFD that is based on future contract (i.e. commodities and indices) has a rollover date.
Upon reaching the relevant instrument’s rollover date, all open future contract CFD positions will be rolled-over to the next contract, so that the positions remain open with the new future contract.
Upon effectuating such rollover, the Position’s open P/L (Profit / Loss) will express the price difference between the expired and new contract prices, as well as include a mark-up spread.
All the associated Limit Orders levels shall be automatically adjusted according to the new future contract price.
For example, if the last price of the WTI Oil February contract is $50.125 and the market price of the following contract (March) at that time is $50.805, then the price level of all the outstanding limit orders will be updated upwards by $0.68.
The rollover dates of contracts depend on the instrument you are trading, and those set out shall be the sole rollover dates applicable to iFOREX’s CFD.
