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.
Margin Requirement's may differ depending on account type and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
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. FXCM expiration dates for USOIL are located in the FXCM CFD Expiration PDF.
Clients that hold an open position on the ‘FXCM Expiration’ will be closed at our bid/offer at 17:00 New York time for US Oil, which means the client will realise any floating P/L at the time it is closed. When USOIL expires, all pending Entry orders and Stop/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 4 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. FXCM’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
Number of FXCM Contracts to Equal 1 Future
100 FXCM USOIL contracts are currently equivalent to one Crude Oil Future.
USOIL has no financing cost (Rollover).
With FXCM’s new Enhanced Execution, there is no minimum stop distance.
CME GROUP MARKET DATA IS USED UNDER LICENSE AS A SOURCE OF INFORMATION FOR CERTAIN FXCM PRODUCTS. CME GROUP HAS NO OTHER CONNECTION TO FXCM PRODUCTS AND SERVICES AS LISTED ABOVE AND DOES NOT SPONSOR, ENDORSE, RECOMMEND OR PROMOTE ANY FXCM PRODUCTS OR SERVICES. CME GROUP HAS NO OBLIGATION OR LIABILITY IN CONNECTION WITH THE FXCM PRODUCTS AND SERVICES. CME GROUP DOES NOT GUARANTEE THE ACCURACY AND/OR THE COMPLETENESS OF ANY MARKET DATA LICENSED TO FXCM AND SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN. THERE ARE NO THIRD PARTY BENEFICIARIES OF ANY AGREEMENTS OR ARRANGEMENTS BETWEEN CME GROUP AND FXCM.