USOIL (SB)

[Marteen]

I use MT4 SpreadBetting account and there is USOIL instrument...... what is this instrument based on ? What market I actually bet on ?? 

As I write this, April CME futures is around 107.30 , May around 104.12 and your "USOIL" is 105.10 !

[ArvinIG]

8 hours ago, Marteen said:

I use MT4 SpreadBetting account and there is USOIL instrument...... what is this instrument based on ? What market I actually bet on ?? 

As I write this, April CME futures is around 107.30 , May around 104.12 and your "USOIL" is 105.10 !

Hi @Marteen,

Could you please share a screenshot of your MT4 charts with us?

We will be able to have a look and come back to you.

Thank you - Arvin

[Marteen]

I have same chart of US OIL that anyone with MT4 Spreadbetting but there you go... 

[AndaIG]

Hi @Marteen

The instrument is based on US Crude Oil. It is an undated contract, therefore the price is IG derived and aims to replicate the cash price of the underlying. You can learn more about these spot contracts from the following link:

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/fees-and-charges/why-is-overnight-funding-charged-and-how-is-it-calculated-

https://www.ig.com/uk/commodities#undatedcommods

All the best, 

Anda

[Marteen]

OK I will measurre the correlation between any contracts and see if it reflects the price in any way or it is just taken out of air price loosely connected to the price of oil in the real world.