Swissquote Bank launched trading of West Texas Intermediate Crude Oil. Trading this future will be allowed on as little as one barrel.
The new service will be available on all of Swissquote’s platforms: FXBook, Advanced Trader, Web Trader and MetaTrader 4.
The announcement comes as Swissquote reports results for the first quarter of 2012. The results show growth in the number of forex accounts, a slide in the value of accounts and a fall in trading volumes.
Here are the details about the launch of WTI Crude Oil, from the official press release:
Swissquote Bank introduces Crude Oil trading
Gland, 7th May 2012 – Swissquote Bank launches the most traded energy product in the world, West Texas Intermediate (WTI) Crude Oil. As of today, the popular commodity is available to trade directly on all of Swissquote’s platforms: FXBook, Advanced Trader, Web Trader and MetaTrader 4.
Swissquote’s crude oil trading specificities
With Swissquote Bank, clients are able to trade WTI crude oil commission free in real time as with Forex; trading hours are the same as for precious metals. As an alternative to the futures market, trading Swissquote’s WTI crude oil product allows clients to trade as little as one barrel, access 30 times leverage, no worrying about contract month expirations and physical delivery. As information is key to intelligent trading, clients will receive free continuous streaming news updates.
WTI Crude Oil trading
WTI crude oil is also known as Texas light sweet, this grade of crude oil is used as a benchmark in oil pricing. This commodity is described as light because of its relatively low density, and sweet because of its low sulfur content. Through this WTI crude oil product, Swissquote Bank offers a combination between OTC trading (with no physical delivery) and derivatives products (which imply automatic management of expiration dates).
Swissquote – Banking. Self-made.
As a leading provider of online financial services, Swissquote Bank offers innovative solutions and analysis tools to meet the wide range of demands and needs of its clients. In addition to a low-cost service for private clients, Swissquote Bank also offers specialized services for independent asset managers and corporate clients.
Swissquote Bank is quoted on the SIX Swiss Exchange (SQN) and holds a banking license. The company is subject to supervision by the Swiss Federal Financial Market Supervisory Authority (FINMA) and is a member of the Swiss Bankers Association.
And here are the results for Q1 2012:Get the 5 most predictable currency pairs