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April 4, 2016

HotForex, "Close Only" for US & UK Oils due to Potential Oil Freeze

Possible Oil Put Freeze may affect the markets this week.

HotForex - What's now?

After 12 years of rapid growth and becoming a truly global broker of choice with over 3.5 million live accounts opened, on May 2, 2022, HFM is entering a new era with a new name, HFM. Go to the page here to find out more about the new brand.

Do you live in South Africa? Then please go to HotForex ZA (South Africa) main introduction page.

Please note that due to the OPEC meeting and the “Potential Freeze on Oil Production”, HotForex is going to take necessarily risk measures.

The potential high volatility is expected for the market opening hours on Monday, 18th of April, and HotForex is going to diable the function of trading for Oil products.

The details are as follows:

Two Energy CFDs “UKOIL” and “USOIL”will be set to CLOSE ONLY from this Friday, the 15th of April at 20:00 (GMT+3)

All pre-existing pending orders and open orders will be cancelled automatically after the specified time

Open Market orders placed before Friday, the 15th of April 20:00 GMT+3, will not be affected and can be closed/adjusted as usual.

No other financial instruments are affected by this change, and you will be able to continue normal tradings for symbols other than the Oils.

This “CLOSE-ONLY” condition on Oil symbols will remain in force until standard market conditions are re-established on the Monday morning Market Open.

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