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USOIL

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 Requirements

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 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 USOIL are located in the FRIEDBERG DIRECT 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 USOIL, 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.

Target Spread

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. 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.

Other Information

USOIL has no financing cost (Rollover).

With Friedberg Direct’s new Enhanced Execution, there is no minimum stop distance for USOIL.

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Order Execution Only

Order Execution Only

Regulatory Documents:
IIROC Brochure: How Can I Get My Money Back, How IIROC Protects Investors, IIROC Complaints Brochure, CIPF Brochure, CIPF Coverage Policy, IIROC Order Execution Only Bulletin, Conflict Disclosure Statement, Covid-19 and Cyber Security - Tips for Investors, Relationship Disclosure Information Document, Before You Begin Trading

The relationship between Friedberg Direct and FXCM was formed with the purpose to allow Canadian residents access to FXCM's suite of products, while maintaining their accounts with a regulated Canadian firm. All accounts are opened by and held with Friedberg Direct, a division of Friedberg Mercantile Group Ltd., a member of the Investment Industry Regulatory Organization of Canada (IIROC). Friedberg customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at www.cipf.ca.