Once your account is funded and you've selected a contract month (most traders use the "front-month," which has the most liquidity), you can place your order.
: Select a platform that offers access to major exchanges like NYMEX or ICE. Common choices for retail traders include Charles Schwab , E*TRADE , and Insignia Futures & Options . how do you buy oil futures
: Use Market orders for immediate execution, or Limit orders to buy at a specific price. Once your account is funded and you've selected
: Represents 1,000 barrels. Every $0.01 price move (one "tick") is worth $10. : Use Market orders for immediate execution, or
There are two primary global benchmarks, and they come in different sizes to fit your budget: :
: Most retail platforms do not allow physical delivery. You must "roll" your position into the next month or close it before the expiration date to avoid being legally obligated to receive actual barrels of oil.
: Represents 100 barrels (1/10th the size). This is ideal for beginners as it requires significantly less margin and capital. 3. Place and Manage Your Trade