This contract is Brent Crude Oil priced in United States Dollars. The price shown is the price of 1 barrel of Brent Crude denominated in USD. 1 lot of UK.OIL in MetaTrader = 100 barrels of Brent Crude Oil.
UK.OIL trades Monday - Friday from 03:00 - 23:59 server time.
UK.OIL has a variable spread that will widen and narrow due to market conditions.
Minimum Per-Click Trade Size:
The minimum number of contracts per click for UK.OIL is 0.01. This is equivalent to 1 barrel of UK.OIL.
Maximum Per-Click Trade Size:
The maximum number of contracts per click for UK.OIL is 100. This is equivalent to 10,000 barrels of UK.OIL.
Maximum Total Exposure:
The maximum total exposure is the total sum of all UK.OIL positions currently open on the trading account. The maximum total exposure is based on the leverage of the trading account. You can set your leverage by going to https://mt5.clients.evolve.markets/#/accounts and clicking the Gear next to the account you would like to change under Settings. You will then navigate to the SET LEVERAGE tab. The default setting when you sign up is FX 500 - BTC 50.
- FX 500 - BTC 50; UK.OIL leverage = 1:500; maximum total exposure = 55 Lots UK.OIL.
- FX 200 - BTC 25; UK.OIL leverage = 1:200; maximum total exposure = 75 Lots UK.OIL.
- FX 100 - BTC 10; UK.OIL leverage = 1:100; maximum total exposure = 100 Lots UK.OIL.
- FX 50 - BTC 5; UK.OIL leverage = 1:50; maximum total exposure = 500 Lots UK.OIL.
UK.OIL has a minimum value of 0.01 USD. Therefore, each 0.01 price movement of UK.OIL is equal to 1 point.
Number of MT4/MT5 lots equal to 1 Barrel Brent Crude Oil:
0.01 lots of UK.OIL is equal to 1.0 Barrel of Brent Crude Oil.
UK.OIL has a maximum leverage of 1:500, or 0.2% margin requirement.
For example, to open 1 lot of UK.OIL at 0.2% margin requirement at a UK.OIL price of $60, the margin requirement would be $60 * 100 * 0.002 = $12 USD, converted into your deposit currency.
Overnight Funding - Swap Rates:
UK.OIL has an overnight funding charge (Displayed as Swap in MetaTrader).
The current overnight funding (swap) rate is displayed in MetaTrader 4 and 5 by right clicking on the symbol and choosing 'Specification'. The swap is applied at 00:00 server time Monday through Friday and is 3x on Fridays. The swap is displayed in Points, and the point value of UK.OIL is 1 point = $1.00 USD.
UK.OIL is a Contract for Difference otherwise known as a CFD. CFDs allow speculation on the market price of UK.OIL without physical delivery of the underlying asset.