We’ve made a few changes to the way oil is traded on TIOmarkets in order to protect clients from being negatively impacted by disruptions to pricing and to conform to MetaTrader standards, which are not designed to handle negative pricing.
We’ve added new CFDs on UK and US Oil as the old instruments were no longer supported by the Metatrader Platform. The new tickers for spot oil instruments now have “100” added to the end. For example, USOIL100.
Traders can open and close the new US and UK Oil positions on both MT4 and MT5, effective immediately.
The new instruments ending in “100” have been marked up by USD 100 per barrel in order to allow for all traders to trade despite any negative pricing. The true value of the instrument is therefore 100 USD less than the price of our new instruments. So, this allows our traders to easily identify the true value of Oil at any time.
For example if the price per barrel of an oil instrument is $12, the price on your platform will show as $120.
How Long Will These New Measures Last?
These new instruments will remain on our platform for as long as oil prices remain prone to sinking into negative territory. For now, the old instruments on Oil remain on close and new positions simply cannot be opened.
Normal pricing and instrument tickers will be reinstated once oil prices stabilise.
How Does This Affect Oil Trading?
These changes will not affect your ability to trade the oil markets, at all!
Oil CFDs offer the opportunity to earn from either falling or rising oil prices. We encourage all of our traders who want to take advantage of these unprecedented energy markets to do so using the new instruments.
We hope these measures will go a long way to protecting our clients from negative pricing in MT4 and MT5.