For a complete overview of all oil CFDs and their active time zones, view our product schedule.
Explore the difference between trading oil cash CFDs and futures CFDs with Axi.
Oil cash CFDs: The oil cash price means the trading of oil ‘on the spot’. In other words, the buyer pays for the oil immediately, at the current market price.
Oil futures CFDs: The oil futures price means the buyer and seller agree in a contract to exchange a given amount of oil at an agreed-upon price at a future date. This contract is done on an exchange that acts as a third-party verifier.
There are two main types of risk associated with oil trading.
The first is risk associated with trading itself. Oil is a commodity that is traded on futures markets and offers a high degree of leverage. Using high levels of leverage can be risky as there is potential to lose more than what you have deposited. Traders should apply robust risk management strategies whenever leverage is being considered.
The second key risk is associated with oil. Because it is a commodity and the price is greatly influenced by wider supply and demand factors, oil prices can be volatile. For example, a political decision or change in environmental policy can cause the price of oil to drop suddenly.
The oil trading market is split up into two trading sessions: Brent crude oil and West Texas oil.
The trading hours for Brent crude oil are Mon - Fri 01:00 - 22:59 GMT.
The trading hours for West Texas oil are Sun - Fri 18:00 - 16:59 EDT.
Axi offers extremely competitive variable spreads, with spreads changing throughout the day. To experience how spreads work in real-time, open a free demo account where you can practice your trading using virtual funds.
The initial margin rate starts at 10% for oil cash CFDs and futures CFDs.
Axi standard accounts have no fees and no commissions. Pro accounts charge a small commission of USD 3.50 per lot ($7 round trip) in conjunction with having lower spreads. For more details and the latest pricing, please refer to our product schedule.
Axi runs a 24 hour Client Services and trading desk 5 days a week, starting from 08.00 am AEST (00.00 server time) Monday morning and ending at 08.00 am AEST on Saturday morning.
You can contact us on our Live chat 24 hours 5 days a week.