Leading Global Forex Brokerage firm, Axiory Global Ltd is all set to enter a new technology in oil trading with two company new products that have been particularly designed to combat negative oil prices: the US Oil Index and the UK Oil Index. Last month noticed a ancient crash when West Texas Intermediate (WTI) crude oil, May futures contracts, dropped beneath $0 for the first time ever. As a result, Axiory Global sprang into motion by means of disabling trading on WTI owing to relatively excessive volatility and including Brent Crude Oil to its assets.
The US Oil Index and the UK Oil Index are rebased at $100, which potential that even if the fee of oil drops into terrible territory, the indices will continue to be $100 higher. For example, if Brent oil drops to $-5, the UK Oil Index will exchange it at $95.
Both products are independent tradable instruments, however their rate actions are linked to the motion of oil fees + $100. Their price movement can be analyzed the equal way as a dealer would analyze oil through making use of the same fundamental and technical indicators in order to open and shut positions.
Roberto d’Ambrosio, Axiory's CEO says, “Being an index and no longer a future capacity it will have smoother behavior, though we nevertheless anticipate a lot of volatility when this will manifest during the settlement, however besides the amazing affect it ought to have if the product used to be based at once on the future expiring the day that one has to roll it over.”
All Axiory chance management tools are relevant on the US Oil Index and UK Oil Index. Negative stability protection, quit loss and take profit, autochartist and Axiory Strike Indicator. The indices are accessible on all account sorts and on each MT4 and cTrader platforms. As the market evolves so does trading, and Axiory is decided to put its merchants first and ensure they constantly have access to the latest and first-class methods that beautify their trading experience.