Any broker offering GOLD trading until 1 day before expiry?

neo1599

Active Member
#1
Hello

Just wanted to know if there are brokers(prefer a discount broker, not limited to it though) who allow closing out a position on GOLD/GOLDM/other contracts till possibly the expiry?

Or any which allow trading till the expiry.


Looking forward to your inputs.
 
#2
Hello

Just wanted to know if there are brokers(prefer a discount broker, not limited to it though) who allow closing out a position on GOLD/GOLDM/other contracts till possibly the expiry?

Or any which allow trading till the expiry.


Looking forward to your inputs.

i am also looking for that kind of broker
 

neo1599

Active Member
#3
i am also looking for that kind of broker
Yes, I am also wondering on whether the Last trading till xx time on 31st just implies no new positions to be created or compulsory close of positions.

Just for argument sake, if I want to take delivery how can a broker tell me I can't when MCX contract is a delivery logic contract.
 
#5
I am a newbie and a bit confused after your post .cant future contracts be traded until the last date of expiry ? Pls throw some light as i last traded nifty on the expiry date only.
With Gold contracts the problem is that MCX has compulsory delivery rules. So 5 days before expiry of the contract certain restrictions are applied to trading of Gold contracts. Not only Gold many other contracts on MCX have such restrictions. You can find this information on MCX website where they have explained about the contracts.

With NIFTY F&O & Stocks F&O there is no such problem.
 

neo1599

Active Member
#6
With Gold contracts the problem is that MCX has compulsory delivery rules. So 5 days before expiry of the contract certain restrictions are applied to trading of Gold contracts. Not only Gold many other contracts on MCX have such restrictions. You can find this information on MCX website where they have explained about the contracts.

With NIFTY F&O & Stocks F&O there is no such problem.
Thanks for the opinion.

I have gone minutely into the contract specifications.

The restrictions are there but none of them get applied/compulsory till 1 day before expiry. As long as the net position becomes "0" by the 5th day i.e. the expiry nothing is binding.

Looking for more opinion on the same.
 

neo1599

Active Member
#7
I am a newbie and a bit confused after your post .cant future contracts be traded until the last date of expiry ? Pls throw some light as i last traded nifty on the expiry date only.
For all the NSE and BSE futures, expiry day itself can be traded.

MCX is a little funny in this regard, brokers closing trading at certain time before expiry most cases 5 days before. While there are implications to trading beyond that point, I am still trying to find a good broker capable of letting me hold till expiry.

As I mentioned in the original post what if I want to take delivery? How can a broker tell me I can't when the contract says I can.
 

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