In investment jargon, the term round-turn (RT) denotes a full investment cycle in which a security is bought and subsequently sold, or an investment position is opened and subsequently closed.

A round-turn is made up of two half-turns. Both long and short investment positions can be referred to as round-turn investments, as long as the investment positions have been opened and closed.

Typically, traders describe investment as round-turns when investments are sold or positions are closed shortly after they have been purchased or opened, or even immediately after. This can happen in futures, forex and contracts for difference (CFD) trading, for example.

The term round-turn is often used in connection with the costs resulting from a trade. For example, in forex and CFD trading spreads are shown as they apply to round-turns. A spread is the difference between a broker’s buy rate and sell rate for a specific product and thus indicate the cost which you would incur if you were to open a position and then close it immediately before rates changed.

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