Question about buying oil using fxcm station

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1

I have a demo account, I’m trying to buy USoil, however I don’t know what the units are when it says amount?

Can someone please explain to me.

Like I have bought oil using fxpro ctrader and the units are number of barrels.

Thanks

2

Thanks for your question, Kanbei :slight_smile:

1 lot of USOil equates to 10 barrels. Therefore, each time the price of oil goes up or down by 1 cent, you make or lose 10 cents. If you trade 2 lots then you’re trading 20 barrels and risking 20 cents each time the price moves 1 cent.

There are a few places where you can see the Pip Cost (the amount you are risking per pip for the minimum trade size) of each instrument in a couple of places on your Trading Station platform:

[ol]
[li]
[/li][li]In the Advanced Dealing Rates window, just below the Spread
[/li][li]In the Simple Dealing rates window, in the Pip Cost column
[/li][/ol]

You can also see the amount you are risking Per Pip, when creating an order:

[ul]
[li]In the Create Market Order window, where it says Per Pip
[/li][li]In the Create Entry Order window, where it says Per Pip
[/li][/ul]

Please let me know if you have further questions.

Welcome to BabyPips!

Jason

3

Thanks for ur reply, so in this screenshot the amount I put is 2000, so how many barrels this equates?

4

20,000 barrels = (2000 lots) times (10 barrels per lot)

5

Thanks a lot for ur answer the reason I got confused is the usd margin 40,000, I though the 40,000 was the actual value of the 20000 barrels and that cannot be. I reed about usd margin and now I know what it is.

Thanks

6

It’s my pleasure, Kanbei :slight_smile: I’m glad I was able to clarify this for you.