We offer all the headline-grabbing energy markets, including monthly US and Brent Crude Oil, plus Natural Gas, No Lead Gasoline, Heating Oil and Carbon Emissions.
Note: We offer mini versions of all Standard Forward Energy contracts at 50% of the main contract size and margin requirement (25% for Natural Gas).
Important: the last dealing day of some commodities will be changing over the coming months. Click here for further details.
Energies Information Table (Standard contracts)
| Market name & dealing hours (local time) |
Value of one contract (per index point) |
Normal spread |
Limited Risk premium |
Margin Requirement (per contract) (5)(8) |
|---|---|---|---|---|
| Light Crude Oil (US) 24 hours except 17.15-18.00 |
$10 | 6 | 4 | $3500/$850 |
| Brent Crude Oil (UK) 01.00-23.00 |
$10 | 6 | 4 | $3500 |
| Heating Oil (US) 24 hours except 17.15-18.00 |
$4.20 | 30 | 20 | $4620 |
| No Lead Gasoline (US) 24 hours except 17.15-18.00 |
$4.20 | 30 | 20 | $5464 |
| Natural Gas (US) 24 hours except 17.15-18.00 |
$10 | 30 | 20 | $3800 |
| Gas Oil (UK) 01.00-23.00 |
$100 | 1 | 0.6 | $3600 |
| Carbon Emissions (UK) 07.00-17.00 |
E10 | 20 | n/a | E2200 |
Energies Information Table (AUD-denominated contracts)
| Market name & dealing hours (local time) |
Value of one contract (per index point) |
Normal spread | Limited Risk premium |
Margin Requirement (per contract) (5) |
|---|---|---|---|---|
| Light Crude Oil (US) 24 hours except 17.15-18.00 |
A$1 | 6 | 4 | A$350 |
| Natural Gas (US) 24 hours except 17.15-1800 |
A$1 | 30 | 20 | A$380 |
Trade CFDs on the world's most popular precious and base metals.
We offer two different types of metals contract: Spot and Forwards. The two types work in slightly different ways.
Spot Metals Information Table (Standard contracts)
Spot metals have no expiry date; the position remains open until you choose to close it. Separate daily funding adjustments are made for Spot Metals.
Note: We offer mini versions of all Standard Spot Metals contracts at 10% of the main contract size.
| Contract and dealing hours (New York time) |
One contract means | Value of one contract (per full point) |
Normal spread | Ltd risk premium | Margin requirement (per contract) (5) |
|---|---|---|---|---|---|
| Gold 24 hours except 17.15-18.00 |
100 troy oz | USD100 | 0.5 | 0.3 | 1% |
| Silver 24 hours except 17.15-18.00 |
5000 troy oz | USD50 | 3 | 2 | 5% |
Spot Metals Information Table (AUD-denominated contracts)
| Contract and dealing hours (New York time) |
Value of one contract (per full point) |
Normal spread | Ltd risk premium | Margin requirement (per contract) (5) |
|---|---|---|---|---|
| Gold 24 hours except 17.15-18.00 |
A$1 | 0.5 | 0.3 | 1% |
| Silver 24 hours except 17.15-18.00 |
A$1 | 3 | 2 | 5% |
Forward Metals Information Table (Standard contracts)
Our forward contracts expire at specified forward dates. There are no separate funding adjustments: a fair value is priced into our quotation.
Note: We offer mini versions of all Metals Forward contracts at 20% of the main contract size and margin requirement (33% for Gold).
| Contract and dealing hours (local times) |
One contract means | Value of one contract (per full point) |
Normal spread | Ltd risk premium | Margin requirement (per contract) (5)(8) |
|---|---|---|---|---|---|
| Gold 24 hours except 17.15-18.00 |
100 troy oz | $100 | 0.6 | 0.3 | $1700/$5000 |
| Silver 24 hours except 17.15-18.00 |
5000 troy oz | $50 | 4 | 2 | $6000/$3000 |
| Copper (High Grade) 24 hours except 17.15-18.00 |
25,000 lbs | $2.50 | 40 | 30 | $3000 |
| Palladium 24 hours except 17.15-18.00 |
100 troy oz | $100 | 2 | 2 | $6000 |
| Platinum 24 hours except 17.15-18.00 |
50 troy oz | $50 | 2 | 1.5 | $3000 |
| Aluminium 08.30-17.00 |
25 metric tons | $25 | 16 | n/a | $2600 |
| Copper 08.30-17.00 |
25 metric tons | $25 | 20 | n/a | $18,750 |
| Lead 08.30-16.50 |
25 metric tons | $25 | 8 | n/a | $7250 |
| Nickel 08.30-16.45 |
6 metric tons | $6 | 60 | n/a | $15,000 |
| Tin 08.30-16.45 |
5 metric tons | $5 | 40 | n/a | $3200 |
| Zinc 08.30-16.50 |
25 metric tons | $25 | 10 | n/a | $6125 |
We offer a wide range of soft commodities such as Cocoa, Coffee, Wheat, and Live Cattle.
We offer mini versions of our Commodity Forward contracts at 20% or 50% of the main contract size and margin. Please see the Notes page for more information – Note 10 refers to mini contract sizes.
Softs Information Table
| Contract and dealing hours (local time) |
Value of one contract (per full point) |
Normal spread | Limited Risk premium |
Margin Requirement (per contract) (5) |
|---|---|---|---|---|
| London Cocoa London 09.30-16.50 |
£10 | 4 | 4 | £1300 |
| US Cocoa New York 01.30-15.15 |
US$10 | 8 | 5 | US$3300 |
| Coffee Robusta London 08.00-17.30 |
$10 | 4 | 6 | US$1000 |
| Coffee Arabica New York 01.30-15.15 |
US$3.75 | 40 | 20 | US$3750 |
| Orange Juice New York 07.00-15.15 |
US$1.5 | 40 | 20 | US$3454 |
| Sugar No.11 World New York 01.30-15.15 |
US$11.20 | 5 | 4 | US$1680 |
| Sugar No. 5 London 08.45-17.30 |
$50 | 0.8 | 0.8 | US$2600 |
| US Cotton New York 01.30-15.15 |
US$5 | 25 | 15 | US$2750 |
| Lumber Chicago 09.00-13.05 |
US$1.10 | 100 | 80 | US$2045 |
Agricultural and Others - standard contracts
| Contract and dealing hours (local time) |
Value of one contract (per full point) |
Normal spread | Limited Risk premium |
Margin Requirement (per contract) (5) |
|---|---|---|---|---|
| Corn Chicago 09.30-13.15; 18.00-07.15 | US$50 | 2 | 1.5 | US$2400 |
| Oats Chicago 09.30-13.15; 18.00-07.15 |
US$50 | 2 | 1.5 | US$1350 |
| Soyabeans Chicago 09.30-13.15; 18.30-07.15 |
US$50 | 3 | 2 | US$3700 |
| Soyabean Meal Chicago 09.30-13.15; 18.30-07.15 |
US$1 | 80 | 50 | US$1688 |
| Soyabean Oil Chicago 09.30-13.15; 18.00-07.15 |
US$6 | 12 | 8 | US$1350 |
| London Wheat London 09.30-17.25 |
£100 | 0.5 | 0.8 | £1600 |
| Chicago Wheat Chicago 09.30-13.15; 18.00-07.15 |
US$50 | 2 | 1.5 | US$3100 |
| Rough Rice Chicago 09.30-13.15; 18.03-07.15 |
US$2 | 40 | 30 | US$844 |
| Live Cattle Chicago 17.00-16.00 |
US$4 | 40 | 30 | US$1620 |
| Feeder Cattle Chicago 09.05-13.00 |
US$5 | 40 | 30 | US$2025 |
| Lean Hogs Chicago 17.00-16.00 |
US$4 | 40 | 30 | US$1688 | Milling Wheat Paris 10.45-18.30 |
E50 | 1 | 1 | E1400 |
| Rapeseed Paris 10.45-18.30 |
E50 | 1 | 2 | E1750 |
Find the expiry details for our commodities markets, including the settlement details for spot trades and the contract months and last dealing days for futures.
Expiry Details Information Table
| Market name | Contract months (7) | Last dealing day |
|---|---|---|
| Brent Crude | Current and next month | 2nd business day prior to the 15th day before 1st of the month |
| US Light Crude | Any month | 4th bus. day before the 25th of the prior month |
| Heating Oil | Any month | Penultimate bus. day of prev. month |
| Carbon Emissions | Mar, Jun, Sep, Dec | Trading day preceding 3rd Fri. of contract month |
| London Gas Oil | Any month up to nine months forward | Third bus. day prior to 14th day of delivery |
| Natural Gas | Any month | 4 NY business days prior to the first calendar day of the delivery month |
| No Lead Gasoline | Any month | Penultimate bus. day of prev. month |
| Gold | Feb, Apr, Jun, Aug, Oct, Dec | 4th business day prior to 1st day of contract month |
| Silver | Mar, May, Jul, Sep, Dec | Fourth Fri. or prev. bus day of prev. month |
| High Grade Copper | Jan, Mar, May, Jul, Sep, Dec | Fourth Fri. or prev. bus day of prev. month |
| Palladium | Mar, Jun, Sep, Dec | Fourth Fri. or prev. bus day of prev. month |
| Platinum | Jan, Apr, Jul, Oct | Fourth Fri. or prev. bus day of prev. month |
| Aluminum | 2 business days prior to contract date (2nd morning ring on LME) | |
| Copper | 2 business days prior to contract date (2nd morning ring on LME) | |
| Lead | 2 business days prior to contract date (2nd morning ring on LME) | |
| Nickel | 2 business days prior to contract date (2nd morning ring on LME) | |
| Tin | 2 business days prior to contract date (2nd morning ring on LME) | |
| Zinc | 2 business days prior to contract date (2nd morning ring on LME) | |
| London Cocoa | Mar, May, Jul, Sep, Dec | Second Fri. of month |
| Cocoa (New York) | Mar, May, Jul, Sep, Dec | Second Fri. or prev. bus. day of prev. month |
| Coffee Robusta | Jan, Mar, May, Jul, Sep, Nov | Second Fri. or prev. bus. day of prev. month |
| Coffee Arabica (New York) | Mar, May, Jul, Sep, Dec | Second Fri. or prev. bus. day of prev. month |
| Orange Juice | Jan, Mar, May, Jul, Sep, Nov | Last bus. day of prev. month |
| Feeder Cattle | Jan, Mar, Apr, May, Aug, Sep, Oct, Nov | Last bus. day of prev. month |
| Live Cattle | Feb, Apr, Jun, Aug, Oct, Dec | Last bus. day of prev. month |
| Lean Hogs | Feb, Apr, Jun, Jul, Aug, Oct, Dec | Last bus. day of prev. month |
| Cotton | Mar, May, Jul, Oct, Dec | Third Fri. or prev. bus. day of prev. month |
| Rapeseed | May, Aug, Nov | Penultimate business day of prior month |
| Lumber | Jan, Mar, May, Jul, Sep, Nov | Last business day of previous month |
| London Sugar No.5 | Mar, May, Aug, Oct, Dec | Second Fri. or prev. bus. day of prev. month |
| Sugar No. 11 World (New York) | Mar, May, Jul, Oct | Penultimate bus. day of prev. month |
| London Wheat | Jan, Mar, May, Jul, Sep, Nov | Third Friday of previous month |
| Paris Milling Wheat | Jan, Mar, May, Sep, Nov | Last bus. day of prev. month |
| Wheat (US) | Mar, May, Jul, Sep, Dec | Fourth Fri. or prev. bus. day of prev. month |
| Corn | Mar, May, Jul, Sep, Dec | Fourth Fri. or prev. bus. day of prev. month |
| Oats | Mar, May, Jul, Sep, Dec | Fourth Fri. or prev. bus. day of prev. month |
| Rough Rice | Jan, Mar, May, Jul, Sep, Nov | Fourth Friday of previous month |
| Soyabeans | Jan, Mar, May, Jul, Aug, Sep, Nov | Fourth Friday of previous month |
| Soyabean Meal | Jan, Mar, May, Jul, Aug, Sep, Oct, Dec | Fourth Fri. or prev. bus. day of prev. month |
| Soyabean Oil | Jan, Mar, May, Jul, Aug, Sep, Oct, Dec | Fourth Fri. or prev. bus. day of prev. month |
Expiry Notes
a) The last dealing day shown in the tables may not always coincide with the last dealing day on the relevant exchange.
b) Positions not already closed by the client expire automatically with spread on the following basis:
- Coffee Arabica, US Cocoa, US Sugar No.11, US Cotton and Orange Juice basis the settlement price of the relevant futures contract on NYBOT on our last dealing day.
- Chicago Wheat, Corn, Oats, Rough Rice and Soyabeans basis the settlement price of the relevant futures contract on CBOT on our last dealing day.
- Live Cattle, Feeder Cattle, Lean Hogs and Lumber basis the settlement price of the relevant futures contract on CME on our last dealing day.
- Milling Wheat and Rapeseed basis the settlement price of the relevant futures contract on Euronext on our last dealing day.
- Light Crude Oil, Heating Oil, Natural Gas and No Lead Gasoline basis the settlement price of the relevant futures contract on NYMEX on our last dealing day.
- Gas Oil and Carbon Emissions basis the settlement price of the relevant futures contract on IPE on the last dealing day.
- Brent Crude Oil basis the IPE Brent Index price for the day following the IG last dealing day.
- Positions in Gold, Silver and High Grade Copper Forwards not already closed by the client expire automatically at the settlement price of a futures contract of the relevant metal on COMEX on our last dealing day. Similarly, Palladium and Platinum expire at the settlement price of the relevant metal on NYMEX on our last dealing day.
- Positions in Aluminium, Copper, Lead, Nickel, Tin and Zinc Forwards not already closed by the client expire automatically at the settlement price of a futures contract of the relevant metal on the London Metal Exchange on our last dealing day.
c) For most positions, a client can, at any time before the position has been automatically closed, ask for the position to be rolled over to a later date. Rolling over a position involves closing the old position and opening a new one. We normally attempt to contact a client shortly before a position is due to expire and offer him the opportunity to roll the position over. However, we cannot undertake to do this in every case and it remains the client's responsibility to give instructions, if he so wishes, to roll the position over before it expires.
d) Where the Gold (Forwards) settlement date would fall (as predicted by the rule in the table) on a Friday or on the day before a US holiday, the contract will instead settle on the previous day.
All the instruments described on this site are Contracts For Difference (CFDs). Our commodities give you exposure to changes in the price of the underlying market. They are cash settled and cannot result in the delivery of any commodity or instrument. Where you see a number or letter in brackets on the tables, the corresponding note can be found below.
- Our CFD contracts give a client exposure to changes in the value of a futures contract but cannot result in the delivery of any commodity or instrument by or to the client.
- We will quote an 'all-in' spread that includes both dealing spread and market spread; as such, any market spread may be added to the spread shown in the Contract Details above. All dealing spreads are subject to variation, especially in volatile market conditions. We will not charge any additional commission unless we notify you in writing.
- For Limited Risk transactions, a Limited Risk premium is charged on the opening.
- Times quoted are local to the relevant exchange, unless specified.
- Note that tiered margining applies. This means that higher margins may be required for large positions. Please see our Tiered Margining page for details.
- For Spot Metal transactions, funding adjustments are calculated and posted to the client's account daily. Funding adjustments are calculated as follows:
A = V x R / 360
Where:
A = the amount of the daily interest credit or debit
V = the value of the position at the time of calculation. This is equal to:
Number of contracts x Contract size x Spot Metal price.
R = applicable annual interest rate.
For Spot Metal contracts a daily interest adjustment is calculated for any position that is opened before 22:00 (London Time) and that is still open after 22:00(LondonTime).
The applicable interest rate will be +/-0.3% above/below the Libor cash rate unless otherwise agreed in writing. For Spot Metal contracts denominated in Australian Dollars the applicable Australian cash rate will be used with a spread of +/-0.8%. - Only liquid months will be available at any one time.
- On certain markets, different margin requirements apply depending on the type of account you hold. Where there are two margin requirement figures listed, the lower figure applies to the Trader Account and the higher figure to the Select Account.
- When you trade in a currency other than your base currency your profit or loss will be realised in that currency and will be booked to your account in that currency. As a default, we will automatically, and on a daily basis, convert any positive or negative balance on your account in a currency other than your base currency to your base currency. You may change this default at any time by calling us or via our PureDeal platform.
- We offer mini versions of our commodity contracts - with proportionately reduced margin requirements - at the following rates:
20% of main contract size: London Cocoa, London Coffee, London Sugar, London Wheat, Milling Wheat, Rapeseed.
50% of main contract size: US Cocoa, US Coffee, US Sugar, Orange Juice, Corn, Oats, US Wheat, Soyabeans, Soyabean Meal, Soyabean Oil, Rough Rice, Feeder Cattle, Live Cattle, Lean Hogs, Cotton, Lumber. - If the 25th calendar day of the previous month is a non-trading day, the last dealing day for US Light Crude Oil is the third business day prior to the last business day preceding the 25th calendar day of the previous month.
- We quote Spot Metals 24 hours a day, normally from 23.00 (London time) on Sunday until 22.00 (London time) on Friday
- Contracts on Live Cattle, Feeder Cattle and Lean Hogs are available for trading from 15.05 (London time) on the Monday of a normal business week, until the close of trading on Friday of the same, usually 22.00 (London time). Note that there is a break each day between 22.00 and 23.00 (London time).