WindsorBrokers
Windsor Brokers Representative
- Messages
- 8
The following thread was brought to our attention and as usual we will not disclose any client personal information but will clarify things that need clarification.
1. It is very easy for a part in a conflict to be a judge and to decide to send people or entities to jail and to talk about it on forums but this does not make it correct and should not be viewed as a valid approach.
2. Future contracts have Expiry Dates and on Expiry, contracts have to be closed, Windsor brokers don’t support any option to roll over positions from one expiry date to another. In our trading Mechanism we explain:
“The CFD Commodities open positions, that are due to expire, must be closed by the end of the “Expiry Date” (see Contract Specification Document) of the instrument. Otherwise, Windsor reserves the right to close all open positions remaining in the trading account, for the specific instrument, without prior notice. This process commences approximately half an hour prior to the COB on the “Expiry Date” of the specific Future (OTC) instrument. “
3. Clients who wish to roll over open position, meaning to continue caring an open position on the same Future contract with the same direction (by contracts or sell contracts) can close the expiring position at markets before expiry and open the same trade at market for the new contracts at the same volume and direction and at the current market price of the new contract.
4. As an extra service to clients and in cases where clients would like Windsor to do this process on their behalf automatically prior to the expiration of the current month contracts we accept requests by the client but this cannot be a standard process that can take place every month at the expiration date of any future contract that is opened on any instrument and at any floating profit or loss status. It can only be conducted by the request of the client for a specific contract on a specific month.
5. Rolling over positions by the client themselves can be made manually; closing positions and opening new ones with the same criteria under new contact and new market price or automatically; by the system upon request. However, this does not have much difference and does not affect much the profit and loss of the client so it would not be the intention or to the benefit of anyone to stop such an action.
6. The effect of positions rolling over is even less significant on the clients Profit and loss calculations when the positions in question are hedged positions.
7. For this specific issue Windsor did it’s best to investigate whether the client has requested and was confirmed that the roll over the positions will take place and we have been unable to find any such instruction.
8. To conduct any rollover of any positions the client account must have sufficient funds to cover any costs related to such a transaction.
1. It is very easy for a part in a conflict to be a judge and to decide to send people or entities to jail and to talk about it on forums but this does not make it correct and should not be viewed as a valid approach.
2. Future contracts have Expiry Dates and on Expiry, contracts have to be closed, Windsor brokers don’t support any option to roll over positions from one expiry date to another. In our trading Mechanism we explain:
“The CFD Commodities open positions, that are due to expire, must be closed by the end of the “Expiry Date” (see Contract Specification Document) of the instrument. Otherwise, Windsor reserves the right to close all open positions remaining in the trading account, for the specific instrument, without prior notice. This process commences approximately half an hour prior to the COB on the “Expiry Date” of the specific Future (OTC) instrument. “
3. Clients who wish to roll over open position, meaning to continue caring an open position on the same Future contract with the same direction (by contracts or sell contracts) can close the expiring position at markets before expiry and open the same trade at market for the new contracts at the same volume and direction and at the current market price of the new contract.
4. As an extra service to clients and in cases where clients would like Windsor to do this process on their behalf automatically prior to the expiration of the current month contracts we accept requests by the client but this cannot be a standard process that can take place every month at the expiration date of any future contract that is opened on any instrument and at any floating profit or loss status. It can only be conducted by the request of the client for a specific contract on a specific month.
5. Rolling over positions by the client themselves can be made manually; closing positions and opening new ones with the same criteria under new contact and new market price or automatically; by the system upon request. However, this does not have much difference and does not affect much the profit and loss of the client so it would not be the intention or to the benefit of anyone to stop such an action.
6. The effect of positions rolling over is even less significant on the clients Profit and loss calculations when the positions in question are hedged positions.
7. For this specific issue Windsor did it’s best to investigate whether the client has requested and was confirmed that the roll over the positions will take place and we have been unable to find any such instruction.
8. To conduct any rollover of any positions the client account must have sufficient funds to cover any costs related to such a transaction.
