Oil CFD Trading Explained
Oil CFDs track WTI or Brent crude in dollars per barrel. Many are based on futures, so they have rollover dates when the broker moves to the next contract and adjusts positions or prices. Contract sizes vary by broker (100 or 1,000 barrels per lot are both common), so check the specification. Offshore leverage is lower than on FX (Titan FX lists 500:1 on energy; BigBoss 50:1), and EU retail clients get 10:1.
Spot vs futures-based oil CFDs
| Futures-based | Spot / cash | |
|---|---|---|
| Price | Tracks a specific futures month | Rolling price, no expiry |
| Rollover | Periodic switch to next contract | None; daily financing instead |
| Overnight cost | Usually low daily swap, plus rollover adjustment | Daily financing |
Your broker’s symbol list and specification tell you which you’re trading.
Worked example
Illustrative: WTI at $75; your broker’s contract is 100 barrels per lot.
- 1 lot is worth $7,500. 0.10 lots = $750.
- Margin at 500:1: $15 per lot. At 10:1 (EU retail): $750.
- Oil moves $2 on a busy day. On 1 lot that’s $200; on 0.10 lots, $20.
If your broker uses 1,000 barrels per lot, multiply those by ten. Check the specification (lot sizes) and run sizes through the lot calculator.
Leverage by broker
- Titan FX: energy at 500:1 on Standard and Blade; not offered on Zero Micro.
- BigBoss: energy 50:1 fixed on at least one account.
- EU retail: 10:1 for commodities other than gold under ESMA’s measures.
Rollover: the cost people miss
Before a futures CFD rolls, check your broker’s rollover calendar. If the next contract is priced higher (contango), a cash adjustment applies to make the switch neutral on paper, but chart gaps and spread costs can still trigger stops. Avoid tight stops around rollover days.
Events to watch
- US weekly crude inventories (usually Wednesday)
- OPEC+ meetings
- Geopolitical news in producing regions
- Broad risk events (US jobs data, central banks)
All on the economic calendar. Spreads widen around these releases (news trading); holding costs are covered in swap. For gold instead, see the gold trading guide.
Related
Frequently asked questions
What is the difference between WTI and Brent?
WTI is the US benchmark crude; Brent is the North Sea benchmark used for much of the world's oil. They usually move together but at different prices.
What happens to my oil CFD at rollover?
On futures-based CFDs the broker switches to the next contract. It usually either closes and reopens positions or applies a cash adjustment for the price difference. Check your broker's rollover schedule.
How much is 1 lot of oil?
It depends on the broker. Some use 100 barrels, others 1,000. On 100 barrels a $1 move is $100 per lot.
What moves oil prices?
Supply decisions by OPEC+ and other producers, weekly US inventory data, economic growth expectations and geopolitical events.
