This serves as a warning to anyone thinking of choosing IB as their broker for CFDs. As of last week, MOC orders on the platform fail and the IB team does not know why. This affects very liquid equities with the orders being rejected as either "invalid order" or "global cancel". As of this moment, that would render their CFD product faulty, what's surprising is that they haven't sent any bulletin regarding this. I've contacted them with other errors recently and months have gone by without anything being done. Let's assume they consider severe trade issues a priority and won't bury it in their "sometime later" file. This isn't the first time CFD trades have had issues either, there have been similar problems before. If possible, I'd like someone from IB to comment on this.
I have never heard of this types of instrument. Are they traded in the US? I had to Google for the product to just see what it was. 1245
US customers aren't allowed to trade CFDs, same goes for Canadians. CFDs allow you to obtain more leverage through lower margin requirements although you lack certain rights that owning the stock would give you, such as voting. In UK, pretty much all of retail deals with CFDs rather than the underlying.