"Foreign exchange trading at Alpari (UK) is dealt on a "Spot" basis only. This means that all trades settle two business days from inception, as per market convention. The settlement date is referred to as the value date. Alpari (UK) does not arrange physical delivery of currencies hence, all positions left open from 10:59:45 p.m. to 10:59:59 p.m. (London time) will be subject to a rollover.
A rollover involves closing and immediately reopening the position at a slightly different level from that of the closing price. The difference in closing and opening prices depends on the prevailing interest rates of the underlying countries whose currencies your trade relates to"
Has anyone heard of a broker closing and reopening positions, causing their customers huge losses...................?????
I am novice, please let me know if this a common practice.
A rollover involves closing and immediately reopening the position at a slightly different level from that of the closing price. The difference in closing and opening prices depends on the prevailing interest rates of the underlying countries whose currencies your trade relates to"
Has anyone heard of a broker closing and reopening positions, causing their customers huge losses...................?????
I am novice, please let me know if this a common practice.
