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April 13, 2016

Question:What are the trading conditions of Metals and Oils in LMFX MT4?

Answer:

Trading conditions of each trading instruments(Precious Metals and Oils) are different. So you may want to make sure that you fully understand the conditions of the trading before, so you won’t get surprised later on.

In this FAQ, Palladium and Platinum are not categorized in “Precious Metals”, as they are categorized as commodities in LMFX.

LMFX offers Gold, Silver, Gas, Oil and which symbols are:

  • NGAS(Natural Gas)
  • UKOIL
  • USOIL
  • XAGEUR
  • XAGUSD
  • XAUUSD
  • XAUEUR

LMFX Official Website

Spread and Commissions

There is no extra commissions charged for trading of Precious Metals and Oils, so the spread displayed in MT4 would be the only thing you will need to cover.

Please refer to the below table.

 Precious Metals or Oils Average Spread Trading Commissions
 NGAS 1 None
 UKOIL 5 None
 USOIL 5 None
 XAGEUR 10 None
 XAGUSD 4.5 None
 XAUEUR 60 None
 XAUUSD 29 None
Please note that the above spreads are variable and could go wider or lower depending on the market situation.

Margin and leverage

LMFX requires fixed margin for Precious Metals.

The trading server will close all the open positions in an account if the margin level is lower than 20%(premium account) or 15%(fixed and zero account).

You may want to make sure that you have enough margin to support all your positions at anytime.

Please refer to the below table.

 Precious Metals or Oils Required Margin per 1 lot Contract Size
 NGAS 50USD or 45EUR 1000 MMBtu
 UKOIL 100USD or 75EUR 100 Barrels
 USOIL 100USD or 75EUR 100 Barrels
 XAGEUR 1% 1000 Ounces
 XAGUSD 1% 1000 Ounces
 XAUEUR 1% 100 Ounces
 XAUUSD 1% 100 Ounces
*The margin requirement for Gas and Oils specified above are calculated based on 400:1 leverage account.

Please note that the leverage on Precious Metal product is always fixed at 1:100.

LMFX Official Website

Market hours

The trading hours of Gas and oils are not 24 hours a day like the Foreign Exchange Market.

The market is opened only limited time as follows:

 Precious Metals or Oils Market Hours(GMT+2) Breaking Time(GMT+2)
 NGAS Mon 03:00 – Fri 23:45 Daily 00:15 until 03:00
 UKOIL Mon 01:00 – Fri 23:45 Daily 00:15 until 01:00
 USOIL 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
 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
 XAUUSD Mon 01:00 – Fri 23:45 Daily 00:00 until 01:00

Please note that before the market close and after the market open, the market liquidity is often quite low and that may cause the spread to widen up as the volatility would be high.

As the spreads are not fixed for Oils and Gas if you have open positions of these trading instrument in certain times, You may be required more margins to support your positions.

Expiration Dates & Roll Overs

There is no expiration dates for Gas and Oils, so you can hold these positions as long as you want.

But for Precious Metals(Gold and Silver), there are expiration dates every month.

If you have any open positions of Golds or Silvers when an expiration date comes, all these positions will be executed(closed) automatically by the system at the last available price in the market.

Please note that there is no roll over in LMFX.

But still there will be swap charges for Oils and Metals every night at 00:00 server time.

The swap points are tripled Wednesdays just like other instruments.(but not Index CFDs)

*Swaps of Gold and Silvers are calculated by lots/pips/units, but the oils are calculated by USD.

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