Managing your account

There are a few simple precautions you can take to help keep your Halifax CFD portfolio in order.

• Always check your contract notes and statements for discrepancies, so they can be reported immediately. It's wise to keep a written record of all trades to enable us to investigate any query.
• If any of your personal details change, please let us know so we can keep our records up-to-date.
• Remember to keep your Halifax CFD personal account number and any passwords confidential.

Order Types

Halifax CFDs offer a range of Order Types to help you limit your exposure on a CFD.

Please note that you must manage your open orders carefully.

Stop Sell

You would use this type of order if you want to sell below the current market price. Most commonly used if you have a long position, as you may want to limit your exposure by selling out if the price falls to a pre-determined level. However this order could also be used to open a short position.

Stop Buy

If you have a short position, you may want to limit your exposure by buying in if the price rises to a pre-determined level. To do this you would use a Stop Buy order. You could also use this order type to open a long position when the price rises to a pre-determined level.

Limit Buy

This order type can be used to both establish a new position as well as realise a profit from an existing position. A Limit Buy is an order to buy below the current market price and is useful to close profitable short position or open long positions once the price has fallen.

Limit Sell

If you want to sell short at a pre-determined level set by you, but only when the price is higher than the current price, you would use a Limit Sell order. You would also use this order type to close out a profitable long position.

Guaranteed Stops

You can also choose to limit the risk on CFDs by using a Guaranteed Stop order. This means that the stop loss you place is guaranteed to be executed at exactly the price specified. For example, if the current price is 742 and you placed a stop loss at 740 but the next available price in the market was 735, your order would still be executed at 740. There is a Premium Payable for this service at the time of opening the trade. Please note that this feature is only available on certain CFDs.

Linked Order

A combination of two orders (a stop order and limit order). If one goes through the other is cancelled or if you close the position both orders will be cancelled.

GFTD

Good for the day orders - a limit order which only runs for one business day. At the end of the day, if the order hasn't been executed, it is cancelled

GTC

Good until cancelled orders - a limit order which you place once, to run until you either cancel it or change it.

Your investments and any income from CFDs can go down as well as up. You can quickly lose more than your initial deposit. Please make sure you understand the risks. CFDs may not be suitable for everyone.

Apply Now

Find out how to apply now for a CFD account, please make sure you have read and understood the key features of this account before you apply.