An overview of close-by operation

Dear Members,

The Close By operation allows traders to simultaneously close two opposite positions of the same financial instrument. If opposite positions have different lot values, only one of them will be left open. Its volume will be equal to the difference between the lot values of the two positions, while the direction and open price of the remaining position will be the same as the direction and open price of a larger position. Compared to an individual closure, the Close By operation allows the trader to save one spread:

  • If the positions are closed separately, the trader pays the spread two times: the Buy position is closed at Bid, and the sell position is closed at Ask.
  • During the Close By operation, the open price of the second position is used to close the first one, and the second position is closed at the open price of the first position.

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