LONDON and SYDNEY, Australia and JOHANNESBURG, South Africa, June 10, 2020 (GLOBE NEWSWIRE) -- FXCM Group, LLC (‘FXCM Group’ or ‘FXCM’), the leading international provider of online foreign exchange trading, CFD trading, cryptocurrencies and related services, is today announcing the launch of its UKOilSpot and USOilSpot CFD product.
FXCM’s two new spot oil products will represent the current spot price of West Texas Intermediate and Brent Crude. Customers may leave positions open indefinitely and avoid potentially thin liquidity in the days leading up to contract expiration.
Customers now have a choice. They may trade the current contracts, USOil and UKOil which have monthly expirations as they are based on the front month futures contracts. Alternatively, customers may trade perpetual USOilSpot and UKOilSpot positions which do not expire.
Both UKOilSpot and USOilSpot have the same CFD contract sizing and pip costs as FXCM’s Futures Oil CFDs. The spot products have a daily financing fee for holding positions past 5pm EST, while existing futures products do not.
Brendan Callan, CEO of FXCM commented: “With the collapse of oil prices recently, many traders are thinking twice about which energy product to trade when looking to speculate. With the expansion of our oil offering, FXCM is catering to the increasing demand to trade oil markets, while providing traders with the opportunity to mitigate the risks that are associated with the futures markets.”
About FXCM:
FXCM is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services. Founded in 1999, the company's mission is to provide global traders with access to the world's largest and most liquid market by offering innovative trading tools, hiring excellent trading educators, meeting strict financial standards and striving for the best online trading experience in the market. Clients have the advantage of mobile trading, one-click order execution and trading from real-time charts. In addition, FXCM offers educational courses on FX trading and provides trading tools, proprietary data and premium resources. FXCM Pro provides retail brokers, small hedge funds and emerging market banks access to wholesale execution and liquidity, while providing high and medium frequency funds access to prime brokerage services via FXCM Prime. FXCM is a Leucadia Company.
Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. The products are intended for retail, professional and eligible counterparty clients. Retail clients who maintain account(s) with Forex Capital Markets Limited ("FXCM LTD"), could sustain a total loss of deposited funds but are not subject to subsequent payment obligations beyond the deposited funds but professional clients and eligible counterparty clients could sustain losses in excess of deposits. Prior to trading any products offered by Forex Capital Markets Limited, inclusive of all EU branches, FXCM Australia Pty. Limited, FXCM South Africa (PTY) Ltd, any affiliates of aforementioned firms, or other firms within the FXCM group of companies [collectively the "FXCM Group"], carefully consider your financial situation and experience level. If you decide to trade products offered by FXCM Australia Pty. Limited (“FXCM AU”) (AFSL 309763), you must read and understand the Financial Services Guide, Product Disclosure Statement, and Terms of Business. Our FX and CFD prices are set by us, are not made on an Exchange and are not governed under the Financial Advisory and Intermediary Services Act. The FXCM Group may provide general commentary, which is not intended as investment advice and must not be construed as such. Seek advice from a separate financial advisor. The FXCM Group assumes no liability for errors, inaccuracies or omissions; does not warrant the accuracy, completeness of information, text, graphics, links or other items contained within these materials. Read and understand the Terms and Conditions on the FXCM Group’s websites prior to taking further action.
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