As well as trading online or via your iPhone we have a dedicated team of online traders on hand to help you place the bet you require or to offer any assistance that you might need.
The Financial Trading team can be reached via live chat.
Once you have logged into the site, you can view your open trades by selecting ‘My Positions’ from the left-hand-side drop down menu.
For access to closed trades go to ‘My Account’ then ‘Account History’. You can also access your online statements from here.
You can place a Stop Loss on most trades.
Details for individual markets can be found under ‘Range of Markets’ then ‘Market Information’ under each product type. There is a minimum specified distance at which you may place your Stop on all markets. Trades with Stops attached will not always be closed at the exact price you have requested, unless it is a Guaranteed Stop (see below). This typically occurs when a market ‘gaps’ through a Stop or when the shares actually traded in the market at your specified price are significantly less than the size of position that you are trying to close. In these cases, your Stop may be filled at a level worse (or possibly much worse) than the level you actually selected. When a market ‘gaps’ or if for any other reason we cannot fill the Stop at the level requested, Coinfx24 will close the trade at a price it deems to be fair and reasonable. This will, in most cases, be determined by the relevant market’s time and sales record.
For example you buy (long) the UK 100, Daily for £10 at 5650 and attach a Stop Loss at 5600 to limit your risk and close your trade for a 50 point or £500 loss. Whilst your position is open the bid price of the UK 100, Daily suddenly drops from 5625 to 5575 thus triggering your Stop. As your Stop was not guaranteed it is subject to this gapping in the market and instead of being closed at 5600 your trade is now closed at 5575 for a 75 point or £750 loss.
A trailing stop order is a type of stop-loss that automatically follows your position if the market moves in your favour, locking in your profit. It remains static if the market falls, closing out your position if the market moves against you. When setting a trailing stop you must specify the distance away and the trailing step. The distance is the number of points away from the current price the stop will start at, the trailing step is the amount the market must move before your stop will also move.
All Stops that are placed are by definition not guaranteed. You may elect to guarantee most Stops if you wish when opening a trade. Please be aware that Guaranteed Stops can only be placed when opening a trade. You may not place a Guaranteed Stop on a trade that is already open or subsequently turn a normal Stop into a guaranteed one. All Guaranteed Stops are subject to a premium and the minimum distance is in all cases greater than when placing a regular Stop. However, the price at which you place your Guaranteed Stop will be honoured at all times regardless of any gapping in the market.
Click on ‘Open Positions’ on the left hand side menu – Your Financial Open Positions window will open and on the appropriate trade, click on the edit tab on the right to edit the trade. Enter your stop level and hit 'Submit Request'.
When adjusting your stop, it must at all times be placed outside of the minimum stop distance from the current Coinfx24 Bid and Ask. This distance will be displayed on the trade ticket when you enter a stop level.
You are now able to adjust your stops outside of the individual market's opening hours except from Friday 21:15 to Sunday 21:00.
If you find you cannot adjust your stop level and you are trying to place it further away from its initial level, this could be due to insufficient funds on your account to support the new margin level required or because the market is not open.
If you find you cannot adjust your stop level and you are trying to bring your stop level closer to your original trade this could be due to the level requested being inside the minimum stop distance requirements from the current Coinfx24 bid and ask or, again, due to the market not being open.
PLACE A LIMIT ON A TRADE
You can place a Limit Order on most trades.
Details for individual markets can be found at www.coinfx24.com under ‘Range of Markets’ then ‘Market Information’ under each product type. Unlike stops, there is no minimum distance requirement for the placing of Limits so you can enter a level as close to your traded price as you wish.
Just as with Stop Orders, Limits are subject to gapping. The act of a market gapping through a Limit level is beneficial to you as you will receive the difference between your limit level and the next traded price in the market.
You are now able to adjust your limits outside of the individual market's opening hours except from Friday 21:15 to Sunday 21:00.
For example you sell (short) the UK 100, Daily for £10 at 5600 attaching a limit at 5550 to take you out the trade for a 50 point or £500 profit.
PARTIALLY CLOSE A POSITION
Yes, you may partially close a position by placing the appropriate opposite trade, with a lesser stake, to that which you first placed when opening the trade.
For example you bought £10 UK 100, Daily at 5600. The bid has moved to 5650 and you wish to take half of your profit whilst leaving the other half open. Go to the UK 100, Daily Market, click on sell and enter the stake of £5. Once confirmed this will close £5 at 5650 netting a profit of 50 points or £250 whilst maintaining your original trade at 5600 but now with a stake of £5.
It is not possible to partially close a trade using a stop or a limit.
CHOOSE WHICH TRADE TO CLOSE WHEN YOU HAVE MULTIPLE TRADES OPEN IN THE SAME INSTRUMENT
In order for you to stipulate which position you would like to close, you must select ‘Open Positions’ from the left hand menu then click on the ‘Close’ icon to the right hand side of the trade you are wanting to close. A dealing ticket will appear, where you can confirm your price and resulting P&L before you click on the sell icon to close your trade.
Any other attempt to close the trade from elsewhere on the site by buying or selling the appropriate stake will result in your trade being closed in the order in which you opened them.
AVOID LOSING MORE THAN YOUR ACCOUNT BALANCE
As spread betting is a leveraged product you can lose more than your account balance. You can limit this risk by attaching stop loss orders to your trades or you can eliminate this risk altogether by placing Guaranteed Stops against your trades, although there will be a charge involved in doing so.
Details of these can be found online at www.coinfx24.com under ‘Range of Markets’ then ‘Market Information’ under each product type.
SPECIFY YOUR TRADInG PREFERENCES
Trading Preferences allow you to specify whether you would like to roll any of your positions both Daily, Daily Futures and Futures and can be found within ‘My Account’. Coinfx24 how to view a market's chart
When you first open the account, as a default setting, all preferences are set for trades not to roll. If you wish for your trades to roll past their respective expiry dates it is essential for you to have updated these preferences correctly beforehand.
There are two parts to Roll Trade Preferences – Maturity Periods and Instrument Types. Maturity periods refer to the contract you are trading and Instrument Types refer to the market you are trading. Both of these need to be correctly ticked for trades to roll successfully. You can do this by clicking on the box next to All Maturity Periods and the box next to All Instrument Types. In this case all boxes will be highlighted meaning all trades (Daily, Daily Future and Future) will roll as a default providing there is available credit in the account to pay any funding applicable.
If you only wanted Daily Trades to roll you would just have that ticked leaving Futures Trades blank. Likewise, if you wanted Indices and Currencies to roll but Cryptocurrency, Commodities and Shares to expire you would only tick the boxes to the left of Indices and Currencies.
It is important to note when trading the Daily Futures that if you want your trade to roll indefinitely then BOTH Daily trades and Futures Trades need to be ticked. The Daily Trades will ensure the position rolls every day and the Futures Trades will ensure that the trade is rolled into the next monthly or quarterly contract when the current one expires.
Within Trading Preferences you may also set up your trade confirmation preferences.
PLACE AN ORDER TO OPEN
You can place orders to open on your account.
To do so, go to the individual market and click on the orders tab
Fill in the order ticket specifying whether you wish to Buy or Sell, your stake, your entry level and whether your order is valid Good for the Day or Good till Cancelled.
You may place orders above or below the market and current orders may be viewed on the left hand side drop down menu under ‘Orders’. Orders to open may be cancelled or amended from this screen by clicking on the ‘Edit’ icon.
You are now able to place an order to open outside of the individual market's opening hours except from Friday 21:15 to Sunday 21:00.
VIEW MARKET TRADING HOURS
All market trading hours are displayed in UK time.
Please note that actual trading times are governed by the local time in the country of the Market’s origin. As a result of this, seasonal adjustments (such as daylight saving) in either the UK or the country of origin, may cause times shown to be periodically incorrect.
We will endeavour to inform you in advance of any changes to our displayed trading hours where possible.
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