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USOIL (SB)

Marteen

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Marteen New Contributor

Marteen

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Posted

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 !

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ArvinIG Respected Contributor

ArvinIG

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Posted
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

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AndaIG Valued Contributor

AndaIG

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Posted

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

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