Positions closed when they should have been rolled over?

Hi there.
On 17th June at 14:00 positions I held for the Vix futures CFD were closed out, rather than rolled over as has happened every time previously, and as I was notified they would. Why is this? And is there some way they can be re-instated? The closing out now has is not what I wanted and will likely result in my losing out on gains.

2 Likes

I am by no means CFD expert maybe, @Team212 can help.

What i considered, if possible that due to contract rollover , price in new contract is higher thus margin limits of 25% was reached thus closing position.

But anyway I am not CFD trader so maybe someone from team or community can answer.

Same has happened to me!

I am wondering if it will happen today with the indices too?

Interesting. I thought the whole point of the rollover adjustment was so that the value of the position was not effected, meaning the change in contract should not effect the available free capital or the margin required to fund the account. In any case I was not told that in any more margin would be required, and no where in the roll over guidance does it state that this is the case that more margin may be required due to price differences.

I was just using rational explanation of possibilities. No knowledge in background, thus I tagged T212 to help out :slight_smile:

We’re currently investigating it.

3 Likes

Of course, much appreciated in any case!

I just got notified this was actually due to a technical error with the roll over, so I’d advise you to get in touch with T212!

1 Like

Thanks - did they reinstate your position?

They’ve just said they’re looking into it and that any losses will be compensated. Not had anything firm other than that it was a technical error though!

1 Like

We won’t be able to reopen positions but we’ve reimbursed all losses, both of you can confirm that. @Penguin @apattisson

Also, we’ve added 7 new VIX contracts - up to 2021. That will guarantee a seamless rollover from now on. For anyone who doesn’t want a rollover, they can trade the longer lasting contracts.

That is quite annoying as VIX would have made me my profit in the time of this technical error.

How can I check that my loss has been reimbursed? It still shows a loss in my closed position…

@Penguin Reports -> Cash - > it’s been added like a deposit.

1 Like

Thanks - it is there :slight_smile:

Too late to buy VIX now as the jump I was expected has passed. However no profit is better than a loss!