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A futures contract is a standardised agreement to buy or sell an asset at a predetermined price on a specific future date. Exchange-traded futures have fixed expiry dates and are traded on regulated exchanges. At GCC Brokers, futures CFDs are off-exchange contracts that track a dated futures price and have a fixed expiry date. They carry no overnight swap, and a position still open at expiry is closed automatically at our quoted price, with no automatic rollover and no physical delivery (Client Agreement, clause 8.4).
You buy a gold futures CFD at $3,000 and hold it until expiry, when our quoted price is $3,060. The position is closed automatically at expiry, giving you a $60 per ounce gain. To keep exposure, you would open a new position in the next contract yourself. Prices in this example are illustrative.
