Introducing USOUSD (US Crude Oil) and UKOUSD (UK Brent Oil)
Titan FX is excited to announce the launch of two new products specially designed to protect our traders from negative oil prices.
These new instruments are USOUSD (US Crude Oil) and UKOUSD (UK Brent Oil). Each are rebased versions of our existing spot oil products, with $100 added to the price. USOUSD is based on XTIUSD while UKOUSD is based on XBRUSD.
If the spot price of oil drops below $0, the corresponding product will remain above $0 because of the $100 offset.
For example, if XBRUSD drops to $-5, the price of UKOUSD would be $95. A price of $30 in XTIUSD would reflect in USOUSD as a price of $130.
These products launch at market open time on the 29th June, at which time the existing spot products will be set to close only. The same liquidity and tight spreads that were offered on the existing oil products will be available, although the margin requirement for these new instruments will be reduced from the existing 10% level to just 1%. We anticipate future margin requirement reductions in the event market stabilisation continues.
On that date we will also be enhancing our popular index product offering, including symbols like JPN225 and NAS100, by reducing the minimum trade volume and volume step from 1 lots to 0.1 lots.
This means trades with sizes like 0.8 lots or 1.4 lots that would previously not be allowed in MT4/MT5, are now allowed. This provides enhanced flexibility and freedom in the way you can trade, while also reducing the amount of equity required to be set aside to open a trade.
To take advantage of these exciting changes to our product offering please login to our MT4 and MT5 platforms and start trading!