Trading problems

Questions

• How can I change my email address?
• Why can’t I short a CFD on a stock but I can buy it? It says 'shorting not allowed'
• Can I invest using an alternative currency?
• How can I limit my risk when trading?
• Do you offer "One Cancels the Other" (OCO) orders?
• What should I do if I have a query relating to my account?
• Why has my stop loss not executed when I can see the price has reached the level?
• How can I reset my password?
• Why and how does the minimum distance on a guaranteed stop-loss order (GSLO) change?
• How is the guaranteed stop-loss order premium calculated?
• Does the premium get refunded if I don’t use my GSLO?
• I’ve calculated my profit and loss but it doesn’t seem to add up? What should I do?
• Can I open more than one trade on the same product?
• Can I open a forex trading account?
• Why is ‘position increasing’ or ‘shorting’ not allowed on a particular product?

Answers

• How can I change my email address?

  To amend your registered email address, please contact our Client Management team by phone or send a request from your email address. In order to make the change we may ask you to confirm other personal details we hold for you on our records.

• Why can’t I short a CFD on a stock but I can buy it? It says 'shorting not allowed'

  Some stocks have restrictions placed on them, because of which you can only buy the stock but not short it.

• Can I invest using an alternative currency?

  You can only deposit funds into your CFD account using the currency the account was originally opened in. Please contact a member of our Client Management Team for assistance on 0800 888 874 or via email at clientmanagement@cmcmarkets.co.nz.

• How can I limit my risk when trading?

  It is impossible to eliminate all your risk. To minimise your losses you can consider using Stop Losses so that trades are closed before your losses exceed a certain level. (Please remember that Stop Losses are not guaranteed). In addition, please bear in mind when trading with CFDs that the higher the optional financing rate you use for a transaction, the higher the risk.

• Do you offer "One Cancels the Other" (OCO) orders?

  Yes, but we don't call them OCO orders. You can set up Stop Loss and Take Profit orders for every trade, as all orders are automatically linked together. If you close your trade or the Stop Loss or Take Profit order is triggered all other linked orders will be cancelled. 

• What should I do if I have a query relating to my account?

  If you have any queries relating to your trading account, for example you wish to contest something about your account, whether relating to an open or closed position, please call our Client Management team immediately so we can take action as quickly as possible. 

• Why has my stop loss not executed when I can see the price has reached the level?

  If you're currently long (with a buy position), make sure you're looking at a sell chart (you can change the chart type at the bottom of the chart itself). If you're short (with a sell position), make sure you're looking at a buy chart. If you still feel the stop loss should have been executed, please contact our Client Management team.

• How can I reset my password?

  You can reset your password by selecting ‘Forgotten Password’ on the login page. We will then send instructions for changing your password to the email address you use to log into your account.

• Why and how does the minimum distance on a guaranteed stop-loss order (GSLO) change?

  Our Risk Management team determines the minimum distance for GSLOs on specific products, depending on market volatility and risk preference of that product on the day.

• How is the guaranteed stop-loss order premium calculated?

  The premium charged for GSLOs will vary by product and depend on your trade size. The estimated cost will be displayed on order tickets before you agree to apply a guaranteed stop-loss order to a position, and will automatically be deducted from your cash balance once you have confirmed the GSLO. Learn how we calculate our GSLO premiums.

• Does the premium get refunded if I don’t use my GSLO?

  If you remove a guaranteed stop-loss order (GSLO) from an open position, convert it to a regular or trailing stop-loss order, or close out the position yourself, we will credit your account with 50% of the GSLO premium charge. An additional GSLO premium is required to modify an existing GSLO.

• I’ve calculated my profit and loss but it doesn’t seem to add up? What should I do?

  Please make sure you have taken into account any additional costs, such as overnight holding costs, the premium for guaranteed stop-loss orders, or commissions on share CFD trades. Profit and loss on CFD trading accounts is calculated in the currency where the product is domiciled and then converted into your account currency. 

• Can I open more than one trade on the same product?

  Yes you can. Click on the 'Accounts' tab and then 'Positions' on the trading platform to see your separate position clusters, or an amalgamated total with your average entry price. 

• Can I open a forex trading account?

  We offer CFDs on a large number of FX pairs. However, we don't have an account that is limited to trading FX.

• Why is ‘position increasing’ or ‘shorting’ not allowed on a particular product?

  Sometimes you will be unable to buy or sell a product on the platform. There could be a number of reasons for this, but typically, it's when the regulator imposes restrictions or there's a lack of liquidity in the market. To list CFD shares on our platform, a number of parameters need to be met. If the parameters are not met, then we may not allow clients to buy/sell at that given time.