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 Requirements can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
Trading Hours, Expiration and Reference Month
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 and current reference month for COPPER are located in the FXCM CFD Expiration PDF.
If you have an open position, the reference month you are trading will not be changed, although expiration dates may be amended. Upcoming reference months may be changed with no prior notice. Please ensure you are aware of which reference month is currently being priced, prior to opening a trade.
Clients that hold an open position on the ‘FXCM Expiration’ will be closed at our bid/offer at 17:00 New York time for COPPER, which means the client will realise any floating P/L at the time it is closed. When COPPER 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.
Copper has a target spread of 4.2 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 has no financing cost (Rollover).
Copper currently has a minimum stop distance of 2 pips (.002).
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