OIL

GKFX quotes two different rolling Oil futures contracts. These are based on the Intercontinental Exchange (ICE) prices and are quoted in US Dollars per barrel. Brent oil is regarded as a benchmark for North Atlantic crude oil production and is synonymous with the UK, who pioneered that area of oil exploration. While Brent is primarily a sea based cargo, WTI (West Texas Intermediate) is land based, and is transported through pipes on land throughout North America.

GKFX quote both Brent and WTI rolling futures, which will automatically and continuously roll over on your account.

These markets are rolled 2 days prior to the market expiry of the relevant contract. This is done by simply changing over the price feed on that market to the new month and cash adjusting your account for any difference. Any orders you may have been working will also be adjusted by whatever the difference between the contracts is. We as a company take no spread or share of this, meaning there is no net cost to you.

We quote oil on a tight 5 point spread with no commission charged and we also allow a minimum deal size of 0.1 lots.

When you trade with GKFX you are trading on the price of oil. One lot is equal to trading $1 per cent (per 0.01) of the price of oil. So if you buy one lot of oil at 75.50 and it goes to 75.60 then you would be making $10. If the price had moved the other way then you would lose. So by doing 0.1 lots you are trading a tenth of that size.

We do not have dealer intervention. All prices and orders are rolled automatically, ensuring that our clients are given the fastest and most efficient service possible.

If you have any questions then please call the trading desk.

For further product information please view our Market Information Sheets (MIS) or view the website published by the ICE exchange: ICE Crude Oil