Commodities

Getting Started

Take a look at the information below to help you understand Forex trading. If you have questions, don’t hesitate to contact our specialists by phone +61 283 113 231, email support@24htrading.co.uk or leave us a message below.

Understanding the Basics

A commodity market is a market that trades in non-manufactured goods. There are two types of commodities: soft and hard. Soft commodities include agricultural products like wheat, coffee, cocoa, fruit, sugar. Hard commodities include mined resources such as gold or oil. Commodities are traded on commodity exchanges, for instance the London Metal Exchange. On these exchanges standard agreements are concluded, so that the goods can be traded without visual inspection.
Simple supply and demand principles work well to explain how commodity markets operate. A low supply drives the demand for a commodity up, causing a rise in price. If you are interested in getting more commodity information, many commodity exchanges, trade organizations, and government agencies provide important information themselves, often available for free. In the energy business, the API and EIA are great sources of data. In grains, soft commodities, and the animal meat (livestock) markets, the U.S. Department of Agriculture’s reports are extremely helpful.

Advantages of commodities trading

By registering an account with 24h Trading, you’ll receive a number of benefits:

Trade without owning

Trading commodities with CFDs (Contracts for Difference) allows you to trade the price of the commodities without ever owning them. You will always get a cash settlement and there is no risk that a truck of cattle will be delivered to your doorstep.

Pricing

There are no exchange fees, but you will need to cover the margin costs to open a leveraged position. There are no commissions, trade fees, account fees or advisory fees.

Trading on margin

You only deposit a small percentage of the overall value of the trade, and the rest will be supplied by your broker. Most commodity CFDs reflect the futures markets, but trade in smaller units, so that it’s much easier to manage risk for an average investor. For instance, US Crude Oil may be quoted at a lot size of 25 barrels instead of a typical futures contract size of 1,000. Although trading on margin can yield maximum profits, it can also cause losses that exceed your deposit. For more information, check Margin Trading.

Symbol	Leverage (max)	Swap Long	Swap Short	Max Order Size	Size of 1 Lot	Spread	Trading Hours
Cocoa	1:100	-22.689	-11.344	20	100	floating	11:50 20:35
Coffee	1:100	-1.565	-0.783	20	1,000	floating	11:20 20:25
Copper	1:100	-2.973	-1.486	20	1,000	70	01:05 23:55
Corn	1:100	-4.056	-2.028	20	1,000	floating	03:05 15:40 , 16:35 21:10
Cotton	1:100	-0.8613	-0.3547	20	1,000	floating	04:05 21:15
NaturalGas	1:50	-0.327	-0.164	20	10,000	floating	01:05 23:55
Platinum	1:100	-9.692	-5.815	20	100	floating	01:05 23:55
Rice	1:100	-0.108	-0.054	20	10,000	floating	03:05 04:55 , 16:35 21:10
Soybeans	1:100	-11.135	-5.567	20	1,000	floating	03:05 15:40 , 16:35 21:10
Sugar	1:100	-0.1609	-0.0663	20	10,000	floating	10:35 19:55
USOil	1:100	-0.5263	-0.2167	20	1,000	floating	01:05 23:55
Wheat	1:100	-4.857	-2.429	20	1,000	floating	03:05 15:40 , 16:35 21:10
XAGUSD	1:100	-1.742	-1.045	20	10,000	floating	01:05 23:55
XAUUSD	1:100	-17,453	-2,493	20	100	floating	01:05 23:55

Choosing a Trading Platform

What platforms do we offer?

MetaTrader4 is the best trading platform on the market for performing technical and fundamental analysis. These platforms offer access to more than 900 instruments – Forex, indices, commodities, stocks, bonds, cryptocurrencies and CFDs. All information is displayed in easy to understand charts and you can trade and monitor your trades 24/7 on a variety of devices: desktop, mobile or tablet.

Why do I need a trading platform?

MetaTrader has been designed with the trader’s interests in mind. It is easy to understand, nearly intuitive. It saves you time because you have everything at your fingertips: market information, instrument’s analysis, indicators. You can perform trades and set key levels with one click or tap. It’s important that you use the platform provided by your broker, as the bid/ask pride may differ and hence it is difficult to trade correctly with a generic MT4.

How do I install it?

There are three types of platforms we offer, depending on the device you want to use it on: desktop, mobile and tablet version. To use MetaTrader on mobile and tablet, simply download the app from Google Play or App Store. To install the Client Terminal (desktop version) For Windows:
1. Download and launch installation wizard.
2. Choose a directory for installing the program and follow the installation wizard’s tips. After the terminal has been installed, it will run automatically.
To install the Terminal on Mac OS:
1. First install PlayOnMac – free application for easy installation of Windows applications on Mac OS.
2. Together with PlayOnMac, Wine will be installed – software that allows to run Microsoft Windows apps. Select the latest version.
3. Install the Terminal by downloading "mt4setup.exe" and launching the file. PlayOnMac will automatically open it.
Market may not be available on Mac OS.

Download

Setting Up Your Account

To start trading bonds with 24H Trading, you’ll need to open a Live Account (Classic, Premium or Select). Once registered, you can apply for margin trading. If you have never traded before, we suggest you first learn the basics by opening a Demo Account.

To set up your account, click the “Open New Account” button on top of the page.

To open an account, simply fill-in the registration form.
Complete the verification process by sending us your ID and proof of residence documents.
Add funds.
Select the commodities you want to trade.
Decide on the position size.
Choose order type.

You’re a commodities trader now!