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UKOilSpot

UKOilSpot represents the current spot price of Brent Crude (as opposed to the Futures price).

Spot Oil prices are derived from the prices of various Futures contracts. FXCM use a method that derives a spot price based on the real time movements of the front two Futures months.

Margin Requirements

To view current margin requirements, visit the below link:

https://www.fxcm.com/markets/trading-details/margin-updates/

Trading Hours

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.

Target Spread

UKOilspot has a target spread of 4 pips/points

Max Contract Size

The maximum number of contracts per click (trade) for UKOilSpot is 5,000.

Minimum Pip Cost (Value)

UKOilSpot 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 in the diagram. Each 0.01 price movement on UKOilSpot is 1 pip/point. FXCM’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.

 

 

 

Size of FXCM Contracts 
1 FXCM UKOilSpot
contract is currently the equivalent to 10 Barrels of Brent Crude.

Other Information

UKOilSpot does not expire.

UKOilSpot does have financing cost (Rollover). The calculation is as shown:

For Long positions:

((Far Month Futures Price-Near Month Futures Price)/(Total trading days of New Month Future) +Markup)×(-1)×point cost

For Short positions:

((Far Month Futures Price-Near Month Futures Price)/(Total trading days of New Month Future)-Markup)×point cost

Notes on the financing cost:

  • FXCM's Markup is currently 10 cents, but subject to change.
  • Point cost for one contract is 10.
  • To account for holding a position into the weekend, there is a 3X rollover on Wednesdays.

There is no minimum stop distance on UKOilSpot.

With FXCM’s Enhanced Execution, there is no minimum stop distance.

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