Commodities are physical substances. Contracts for Difference (CFDs) allow market participants to speculate on price movements of commodity instruments without owning the tangible assets.
The oldest and most reliable forms of currency are Precious Metals such as Gold (XAU) and Silver (XAG). Gold’s price is denominated in US Dollars and determined by its weight in ounces. Brent Crude Oil and West Texas Intermediate are also commonly denominated in US Dollars and are differentiated by where in the world they are sourced from.
The World of Metal Trading at Icon FX
In the trading world, precious metals such as Gold and Silver maintain an enduring appeal as the oldest and most trusted forms of currency. When trading Gold and Silver with Icon FX, physical ownership of these precious commodities is unnecessary. Instead, their value is determined by weight.
The price of Gold is expressed per ounce, so when the Gold (XAUUSD) price stands at $1800, it indicates that one ounce of Gold is valued at $1,800. Similarly, the price of Silver is assessed based on its per-ounce value in USD. If you observe the Silver (XAGUSD) price at $22, it signifies that one ounce of Silver is available for trading at $22.
Metal Trading Hours
Product
Gold
Silver
Code
XAUUSD
XAGUSD
Trading Time Mon - Thurs
01:00 – 23:59
01:00 – 23:59
Trading Time Friday
01:00 – 23:58
01:00 – 24:00
Break
00:00 – 01:00
00:00 – 01:00
The World of Oil Trading at Icon FX
Oil plays a central role in the global fuel industry, making it one of the most vital and actively traded commodities worldwide.
The price of oil is highly volatile due to a multitude of significant factors, sometimes seemingly unrelated. Economic supply and demand dynamics, political instability in oil-producing regions and advancements in alternative fuel technologies all contribute to fluctuations in oil prices.
Oil Trading Hours
Product
Crude Oil
Brent Oil
Code
WTI
BRENT
Trading Time Mon - Thurs
01:00 – 24:00
01:00 – 24:00
Trading Time Friday
01:00 – 24:00
01:00 – 24:00
Break
-
-
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Icon FX is a trade name of Icon Tech PTY Ltd, a limited company registered in Australia authorised and regulated by the Australian Securities & Investments Commission (ABN 94 650 709 265)
Here at Icon FX we want to expand our positive influence beyond the financial sector. That’s why when you trade with Icon FX we commit a portion of our revenue to supporting world-leading projects like Ocean-Bound Plastic Clean-up and Mangrove Tree Planting. See more info here https://verdn.com/
Risk Warning: Trading foreign exchange on margin carries significant risks, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. With the demo account you can test any trading strategies you wish in a risk-free environment. Please bear in mind that the results of the transactions of the practice account are virtual, and do not reflect any real profit or loss or a real trading environment, whereas market conditions may affect both the quotation and execution. A Disclosure Document is available here. Information about our services, including our fees and charges is also available at those sources.
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