Metals and Oil Trading

The LMFX gold and silver contracts give you access to the precious metals markets 24 hours a day, 5 days a week. With prices in both these products being quoted in the EUR and USD base currencies, you are able to remove any currency impact on your trading account allowing you to profit from the movement in the market.

With our competitive Oil spreads you are able to invest in the oil based markets without having to worry about anything else other than the price movements. As with all our trading products, the financing of positions in the Oil markets is made easier through the use of leverage.

SWAP Policy Trading Hours Execution Desk

Metals **** Typical Spread Swap Short Swap Long Limit and Stop Levels Used Margin in this example * 1 pip value per 1 lot Size of 1 lot
XAGEUR 10 -0.08 -0.10 10 1% Notional Value** EURO 10 1000 Ounces
XAGUSD 4.5 -0.11 -0.11 10 1% Notional Value** USD 10 1000 Ounces
XAUEUR 60 -0.50 -2.20 22 1% Notional Value** EURO 1 100 Ounces
XAUUSD 29 -1.71 -2.67 30 1% Notional Value** USD 1 100 Ounces
UKOIL 5 -1 -1 0.05 $100/EUR75 per lot USD 1 100 Barrels
USOIL 5 -1 -1 0.10 $100/EUR75 per lot USD 1 100 Barrels
NGAS 1 -1.5 -2 7 $50/EUR45 per lot USD 1 1000 MMBtu
* Margin Based on a position size of 1 lot
** Margin of $100/lot is calculated based on 400:1 leverage account.
*** Notional Value equals the number of Ounces multiplied by price
**** Leverage on Metal products is always fixed at 1:100


Contract sizes for Gold and Silver

Gold - 1 lot = 100 ounces
0.1 lot = 10 ounces
0.01 lot = 1 ounce

Margin will now be calculated as the following:

Notional Value*/100
Notional Value = Number of ounces * Current Market Price

For example if an account open 1 lot (or 100 ounces) of gold the required margin will be the following:
100 * 1585 /100 = $1585
The pip value for a 1 lot position is $1 per pip



Trading Hours

Trading Product Trading Hours (GMT+2) Break Time (GMT+2)
XAUUSD Mon 01:00 - Fri 23:45 Daily 00:00 until 01:00
XAGUSD Mon 01:00 - Fri 23:45 Daily 00:00 until 01:00
XAUEUR Mon 01:00 - Fri 23:45 Daily 00:00 until 01:00
XAGEUR Mon 01:00 - Fri 23:45 Daily 00:00 until 01:00
USOIL Mon 01:00 - Fri 23:45 Daily 00:15 until 01:00
UKOIL Mon 03:00 - Fri 23:45 Daily 00:15 until 03:00
Attention: During the time period from 23:55 to 00:05 server time increased spreads and decreased liquidity can take place due to daily bank rollover. In case of inadequate liquidity/spreads during bank rollover, widened spreads and excessive slippage may occur. Therefore orders will not be executed during these times.

Contract Expiration Dates

UK Oil US Oil
15/12/2015 18/12/2015
13/01/2016 19/01/2016
28/01/2016 19/02/2016
28/02/2016 18/03/2016
30/03/2016 19/04/2016
28/04/2016 19/05/2016
30/05/2016 20/06/2016
29/06/2016 19/07/2016
28/07/2016 19/08/2016
30/08/2016 19/09/2016
29/09/2016 19/10/2016
28/10/2016 18/11/2016


Metals & Oil Overnight SWAP Rates

All Metals and Oil contracts are subject to an overnight SWAP with triple SWAPS being applied on the positions held over a Wednesday.

Please note that Gold and Silver SWAPs are factored as pips/lot, whilst both Oil contracts are in USD.