Trade oil CFDs at the right level for you, with 30:1 leverage
Open oil trades with required margin as little as 10%
Deposit and withdraw freely with $0 commission
Trade without brokerage fees on all Standard Goody Trades accounts
60,000+ traders in over 100 countries trust us with their trades
Enjoy super competitive spreads with ultra fast execution speed
Oil trading is the buying and selling of different types of oil related instruments, with the hope of generating a profit.
Often referred to as “black gold”, oil is a vital global commodity, with crude oil featuring as a basic ingredient in many different industries, including electricity, plastics, cosmetics, transportation, pharmaceuticals and petroleum. Because of its importance in global commerce, many industries monitor the price of oil very closely and also actively trade in the oil market. This gives the oil market a high level of volatility.
Explore the difference between trading oil cash CFDs and futures CFDs with Goody Trades.
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.
Utilise our world-class trading platforms and powerful tools to enhance your trading experience. With an Goody Trades account, traders of all levels have access to top resources to help further improve their skills.
MetaTrader 4 is the smart choice for online traders everywhere who are looking for a trading edge. Simple for beginners and full of advanced functions for professionals, the MT4 platform helps you unlock unlimited trading possibilities.
Built to utilise Artificial Intelligence and Machine Learning, PsyQuation is a highly advanced trading analytics platform designed to reduce your trading mistakes and provide powerful performance analytics.
Autochartist continuously scans the market for customised trade opportunities, based on realtime pricing and your specific trade setups, then alerts you to potential trades.
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.
Goody Trades 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 2% for oil cash CFDs and futures CFDs.
Yes, Goody Trades charges a commission fee after a successful trade session.
Goody Trades runs a 24 hour Client Services and trading desk 5 days a week, starting from 08.00 am GMT (00.00 server time) Monday morning and ending at 08.00 am GMT on Saturday morning.
You can use our live chat facility during the same period.
