Gain Capital’s Forex.com UK division has added Brent crude oil to its ForexTrader platform, enabling clients to trade oil alongside global currencies and spot metals.
“Economic fundamentals have become a significant driver of oil prices.This factor and the inverse relationship between oil and the US dollar means trading oil is a fairly natural extension and an interesting alternative to currency trading.” says Jane Foley, director of research for Forex.com.
“In addition, many currency traders already closely follow the price of oil, and commodities are increasingly popular with retail traders as they look for opportunities to generate positive returns outside traditional equity markets.” adds Matthew Wright, regional director for Forex.com in Europe.
The platform is offering Brent as a contract for difference (CFD) with 5% margin and the flexibility to trade small contracts from just one lot, representing 100 barrels. The contract tracks the current price of Brent crude on the Intercontinental Exchange (ICE).In addition to premium trading tools such as real-time charts and news, clients will also receive daily market commentary and analysis from the Forex.com research team on the latest market trends impacting the price of oil.
“Having launched gold and silver contracts on our ForexTrader platform earlier this year, oil is the next logical step in our product expansion,” says Glenn Stevens, CEO of Gain Capital. “We will continue to add new products to all of our platforms to help our clients take advantage of global trading opportunities.”