The underlying instrument for USOIL is the light sweet Crude Oil Futures contract which is traded on the CME . West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing.
Can be viewed in the dealing rates and create order windows on the trading station, or by using the CFD Product Guide.
Trading Hours & Expiration
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted here. Friedberg Direct expiration dates for USOIL are located in the Friedberg Direct CFD Expiration PDF.
When USOIL expires, all pending Stop and Limit orders that are associated with the expiring contract will be cancelled. Clients will need to re-establish another position if desired after the expiration and reinsert Stop and Limit orders to the new open position.
USOIL has a target spread of 5.0 pips/points
Max Contract Size
The maximum number of contracts per click (trade) for USOIL is 5,000.
Minimum Pip Cost (Value)
USOil has a minimum value of 0.10 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 0.01 price movement on USOIL is 1 pip/point. Friedberg Direct’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of Friedberg Direct Contracts to Equal 1 Future
100 Friedberg Direct USOIL contracts are currently equivalent to one Crude Oil Future.
USOIL has no financing cost (Rollover).
With Friedberg Direct’s new Enhanced Execution, there is no minimum stop distance for USOIL.