If you're trading CFDs on futures contracts through Libertex using MetaTrader, it’s important to understand how the expiration (also known as “rolling” or “merging”) works and what happens in your account during this process.
What are CFDs on futures contracts?
Unlike actual futures contracts traded on specialized markets, you can trade CFDs (Contracts for Difference) on futures directly from your trading account.
This lets you take advantage of price movements without holding the underlying asset.
What is expiration or “Rolling”?
When a futures contract loses liquidity, your open position isn’t closed.
Instead, it is transferred to the next available contract. This is called “merging” or “rolling.”
✅ This allows you to keep your trade open without interruptions.
When does the expiration happen?
The expiration doesn’t happen on the official market expiration date.
Instead, it’s triggered when liquidity shifts — usually when both the current and next contracts have similar trading volumes.
👉 The timing depends mostly on our liquidity providers, not the market’s calendar.
What happens to your account during expiration?
Here’s what you need to know:
If you’re holding a buy position, and the new contract is priced higher, your account will be charged the price difference.
If you’re holding a sell position, you’ll receive a credit for the same difference.
🔎 Example:
If the price shifts from $75.49 to $75.86, that’s a difference of $0.37 per barrel.
This amount will be deducted from your account balance, not directly from the trade.
You’ll also be charged the spread at the time of expiration.
📌 For sell positions, you’ll receive a $0.37 credit per barrel, minus the spread.
Important: Charges are applied to your balance, not the trade
This is key:
The adjustment for expiration is reflected in your account balance, not directly in the trade itself.
👉 This approach ensures the price shift between contracts doesn't significantly affect your final profit or loss — only the spread is charged.
Why you might not see a price gap on the chart
Even if there’s a difference in price between contracts, you may not see a “gap” on your chart.
📌 That’s because:
Japanese candlesticks reflect time-based intervals (e.g., one minute).
If a price change happens between seconds (e.g., from second 05 to 06), it’s still shown within a single candle — and the gap won’t appear visually unless the candle is unusually long.
Where can you check expiration dates?
Each CFD instrument has an expiration date set by Libertex.
You can find this information in the Instrument Specifications section on our site.
✅ Quick recap
🔽 Here’s what you need to remember:
Contracts roll over automatically when liquidity drops.
Your position stays open — only the contract changes.
The price adjustment is applied to your account balance, not your trade.
A spread is charged during the rollover.
The price shift doesn’t affect your financial result beyond the spread.