USOilSpot represents the current spot price of West Texas Intermediate (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.
To view current margin requirements, visit the below link:
USOilSpot has a target spread of 4 pips/points
Max Contract Size
The maximum number of contracts per click (trade) for USOilSpot is 5,000.
Minimum Pip Cost (Value)
USOilSpot 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 USOilSpot 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 USOilSpot contract is currently the equivalent to 10 Barrels of WTI Crude.
USOilSpot does not expire.
USOilSpot 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 USOilSpot.
With FXCM’s Enhanced Execution, there is no minimum stop distance.