As the name suggests, "Close Only" mode means you're only allowed to close the position in question. Let's suppose Apple is currently in Close Only mode. In this case, you aren't able to open new trades for this instrument, but you can close any current positions you're holding.
How do I know if an instrument is in Close Only mode?
If you have sufficient available funds and are in the trading session but the position won't open, the most likely reason is that the instrument is in Close Only mode.
You can clarify any changes to our trading terms and conditions by contacting us directly at any time by any method you like.
When might Close Only mode be activated?
This mode may typically be activated during times of extreme market instability. Such circumstances might include Brexit, the current Swiss franc volatility and corporate reporting, for example. Close Only mode is also introduced in the event of share splits, such as those performed by Apple and Tesla in August 2020. Once the split has been completed, Close Only mode is lifted.