Important: .WTICrude switches to July contract 4 May

Announcement from 30/04/2020

4th May, start of trading day – .WTICrude switches to July’s contract as price reference. Due to volatility with the front month’s contract, we’re doing it ahead of the expiration schedule.

How it affects open positions:

  • Market orders will remain open and take a credit/debit adjustment based on the price difference between the June and July contracts. You will see it under ‘Swap’ in your terminal*.
  • Pending orders: If the SL/TP price is in the price gap (due to the significant difference between the front month’s and next month’s prices), the order will be executed at the first available price at market re-open, with a slippage.

When it will happen:

  • 01:00 GMT+3, on 4th May – start of trading day for .WTICrude.
    To avoid having your positions affected (see above), close them before the end of the previous trading day (23:45 GMT+3, 1st May).

This is an extra protective measure against the volatility in the US oil market, and specifically around the front-month WTI contract since the main cause of the recent price slump is the increasing lack of physical storage.

Important energy CFD resources:

New to trading oil? Read Commodity Trading 101: Energy.

Email notifications and the Company News announcement take priority over other materials on the myfxchoice.com website on upcoming expiration dates.

Server time: GMT+3.

*Oil futures do not have a daily swap (a charge based on the difference of interest rates, applied when keeping a position open overnight, e.g. in FX currency trading). When trading .BrentCrud or .WTICrude with us, what you see under ‘Swap’ is the adjustment made when the expiration for the underlying monthly futures is reached.

Should you have any questions, please do not hesitate to contact us.

Please note that some older news announcements may now be out of date and not currently accurate.

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