COMEX Copper is widely considered as one of the key cyclical commodities, given its extensive usage in construction, infrastructure and an array of equipment manufacturing. The biggest end-use is for the production of cables, wiring and electrical goods because of its excellent electricity-conducting properties. The construction sector is the second largest user of copper, for plumbing, HVAC and building wiring applications. Although found in abundance and widely extracted as well as recycled, the copper value chain is quite capital intensive. This makes the market susceptible to supply-side constraints, and therefore, volatile price fluctuations.
Margin Requirement's may differ depending on trader experience and account equity and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
Trading Hours & Expiration
Please also note that Copper is a CFD product that expires. FXCM expiration dates for Copper are located in the FXCM CFD Expiration PDF.
Copper has a target spread of 2 pips/points.
Max Contract Size
The maximum number of contracts per click (trade) for Copper is 500.
Minimum Pip Cost (Value)
Copper 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 0.001 price movement on Copper 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
250 FXCM Copper Contracts are currently equivalent to one CMX Copper Future.
Copper expires, so it does not have a financing cost (Rollover). Also, Copper currently has a minimum stop distance of 2 pips (.002).