Oil products – Important Information
Due to the current exceptional market events related to this product, please note we may take such action as reasonably required, including but not limited to amending trading times or margin requirements, closing or cancelling trades and orders, or suspending trading on any product or market.
In times of high volatility and low liquidity there may be instances where one direction of trading (long or short) is not permitted or new positions are unable to be opened. During any period in which such a trading restriction is applied, market orders or triggered pending entry orders will be rejected and deleted. We may change the trading status of a particular instrument at any time and without prior notice.
FXCM will not support negative prices on our products and reserve the right to cease trading when market prices reach zero or when we reasonably anticipate negative prices. In such event we may close all open positions at the best price available to us.
Current Policy on Oil
Until further notice, all Oil CFD contracts may be closed without notice and prior to expiry should the underlying reference price reach or fall below $3.00. We may close open positions at the prevailing price at the time the positions are closed. We do not guarantee the closing price.
In such circumstances the Oil CFD market will remain closed for the remainder of the trading day. We expect to re-open the market at the next available opportunity but the underlying reference may be for another futures contract rather than the near futures contract.
We recommend you trade this product with caution.