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Oil CFDs

Trading Oil CFDs


Advantages of Trading Oil (WTI) with AxiTrader

  • Experience all the benefits of trading oil whilst still utilising MT4’s impressive functionality.
  • Low Margin of 1%
  • Variable highly competitive spread.
  • No dealer intervention.
  • No brokerage fees and NO commission on Standard Account.

 

Trading Hours

MT Code Market Name Open (GMT+2) Close (GMT+2) Break (GMT+2)
WTI WTI Crude Oil (Future) Monday 01:00 Friday 24:00 00:15-01:00

 

Oil Rollover Explained

AxiTrader’s oil contract (WTI) is based on the ICE futures price (Front-Spot Month). This futures price is the largest price benchmark for the oil industry worldwide.
Futures contracts expire because they are related to a definitive date and there are many months traded.
(The forward prices can be higher or lower depending on market conditions).
In order to remove final day volatility at AxiTrader we switch from using the front month contract into the second month’s contract one trading day prior to the exchange expiry.
An example of this is when the WTI (West Texas Intermediate) contract for September expires, the October price needs to be used and the price on the AxiTrader MT4 platform may increase or decrease depending on the value of the October contract relative to the September contract. This is obviously not a price rise or fall in oil but just a move to a new reference price and therefore no profit or loss will be incurred as a result.
In order to make sure this does not affect our clients, a cash adjustment needs to be made. Please find two examples below:

Example 1:

Long position of 1000 barrels:
September Contract closes @ $110.00
October Contract opens @ $111.38
Cash adjustment of – $1,380 is made on account
Profit of $1,380 is made on open position
Net financial effect is zero.

Example 2

Short position of 2000 barrels:
September Contract closes @ $110.00
October Contract opens @ $111.38
Cash adjustment of +$2,760 is made on account
Loss of $2,760 is incurred on open position
Net financial effect is zero.

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