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Risk warning: CFDs and forex are leveraged products. Most retail investor accounts lose money when trading CFDs. You could lose more than you deposit with brokers that do not offer negative balance protection. Nothing here is financial advice.
Retail traders usually trade oil as a CFD on one of two benchmarks. WTI is the US grade, priced in Cushing, Oklahoma. Brent is the North Sea grade that most of the world uses. Every broker below lists commodities in our catalogue and holds at least one licence from a major regulator. The order is our trust rank.
FOREX.com is a well-regarded forex broker offering broad access to forex markets through web, desktop, and mobile platforms, with research, education, and risk management tools. It operates under applicable regulatory oversight in many regions.
Interactive Brokers is a well-regarded forex broker providing broad access to currency pairs, advanced trading platforms, and research and risk management tools. It supports multi-asset trading and a wide range of order types for active FX participants.
Plus500 is a regulated forex and CFD broker offering broad access to currency pairs and other markets on a proprietary web and mobile platform. It provides built-in charting, order types, and risk management tools to support straightforward trade execution.
Saxo Bank is a well-regarded forex broker with a proprietary multi-asset trading platform, broad access to currency pairs, advanced charting, and research-driven tools. It emphasizes robust technology, risk management features, and a professional user experience.
Swissquote provides forex and multi-asset trading through proprietary and third-party platforms, with research, education, and customer support. It is well-regarded for a broad product range, clear pricing, and tools suitable for different experience levels.
XTB is a forex and CFD broker offering a proprietary platform, broad instrument coverage, and integrated research and education. It is regulated in multiple jurisdictions.
eToro is a well‐regarded forex broker and multi‐asset platform offering broad access to currency markets via web and mobile trading. It provides social trading features, research, and education within an integrated interface and straightforward account management.
FXCM is a well-regarded forex broker that provides access to currency pairs on proprietary and third-party trading platforms, with market research, education, and risk management tools. It operates through regulated entities.
Pepperstone is a well-regarded forex broker offering access to forex and CFD markets through multiple trading platforms, with tools for analysis and risk management.
AvaTrade is a well-regarded forex and CFD broker offering multiple trading platforms, broad market access, and educational resources. It provides market research and risk management tools with an emphasis on platform reliability and compliance.
Admirals is a well-regarded forex and CFD broker offering broad market access, user-friendly platforms, and integrated research and education. It provides a range of account options and risk management tools under established regulatory frameworks, emphasizing platform reliability and client support.
IG is a well-regarded forex broker that provides broad access to currency pairs, multiple trading platforms, and extensive research and education within a regulated framework. It emphasizes transparent pricing, diverse order types, and built-in risk management tools.
City Index is a well-regarded, regulated forex broker offering forex and CFD trading across a broad range of markets via web and mobile platforms, supported by research, charting, and risk management tools. It emphasizes clear pricing, regular market analysis, and…
FxPro forex broker provides access to a broad range of forex and CFD markets on popular trading platforms, with an emphasis on order execution and risk management tools.
Markets.com is a well‐regarded forex and CFD broker offering broad access to currency pairs and multi‐asset CFDs on intuitive web and mobile platforms. It provides built‐in research, education, and risk management tools to support clear, streamlined trading.
An oil CFD tracks the price of one barrel. A standard contract is usually 100 barrels, and most brokers let you trade smaller sizes. At $70 a barrel, a 10-barrel position is worth $700, and each $1 move in the price is worth $10 to you.
Oil CFDs come in two forms. A spot or cash CFD has no expiry and charges a daily swap for holding. A futures-based CFD expires on a set date and rolls into the next month, and the price jumps at the roll when the months are priced differently. Ask your broker which one you are trading, because the costs are not the same.
The underlying market is the CME NYMEX crude oil future, which trades from Sunday 17:00 to Friday 16:00 Chicago time with a one-hour break each afternoon. Our futures market hours tool shows those hours in your time zone, with the CME holiday dates for the rest of 2026.
Weekly US inventory numbers from the Energy Information Administration land on Wednesdays at 10:30 New York time. OPEC+ meetings set production targets. Anything that changes shipping, refining or demand moves the price. Spreads widen and margin can rise around these events.
In the EU and the UK, retail leverage on commodities other than gold is capped at 10:1. Australia uses the same cap. Offshore brokers offer more, without the retail protections that come with a major licence.
Both move together most of the time. WTI reacts more to US inventory data. Brent reacts more to shipping and Middle East news. Pick the one your broker prices tightest and stick to it while you learn.
It did once. In April 2020 the expiring WTI futures contract settled below zero. Most brokers have since changed how they price expiring contracts, but it shows why leverage on oil deserves respect.
The futures market that sets the oil price is closed from Friday afternoon to Sunday evening, Chicago time. A few brokers quote weekend prices on some markets, but oil is normally closed.
Brokers tagged with commodities in the catalogue and holding at least one licence from a major regulator, ordered by our trust rank. Contract details differ by broker. Check the contract specification page before you trade.
Sources: CME Group, crude oil futures overview and hours (checked 25 Sep 2026) · EIA weekly petroleum status report schedule (checked 25 Sep 2026)
