Such a KillJoy... A merry heart doeth good like a medicine. A broken spirit is rotteness to the bones... I am very sarcastic and I am quite adept at being that way while providing pertinent information... Too bad your such a sour puss.... GO suck n a Lemon. ROFLMBO!!!!!!
I trade daily USO watching CL front & next month. USO trades like a stock but mimics Nymex crude. (It does lag badly due to management cost & month to month futures roll over costs) But I can trade in small quantities ,unlike minimum 1 CL contract! I trade 100 shares (even 50 shares sometimes) & average down up to 500 shares .(crude does drop intraday up to 2 dollars) This will work only at a low cost broker like IB where I pay minimum $1 for up to 200 shares. (Not if you pay $7-10 per ticket) Last week when USO traded down from 51.75 to 49.15, I am still holding small quantities bought at the top (50-100 shares) but leveraged more at the bottom range & came out ok.! This strategy may not work all the time. But if you want to long oil but want to nibble small quantities USO is a fine vehicle. UNG is the newest ETF mimicking Henry HUB Natural gas.
you can trade crude oil spot [nymex/brent] trough cfds or spread betting. i wouldn't if i was you, nevertheless the contract is available trough cfd brokers.
CFDs and spread betting (tax-free, BTW), while popular in the UK and a handful of other countries, are prohibited by the SEC and thus not available to US residents.
You asked for *FX brokers* that offer *spot oil* tradeing. I am very sorry, but you have no leg to stand on when it comes to call other people amateurs. I meant my first answer, altho sloppy in phrasing, quite serious. It would appear i have to spell it out once again, just for you. Lets ignore the fact that spot oil is alomst exclusivly traded among institutional participants and corporates: a spot-transaction is due for immediate settlement, that means 2 businessdays in most cases(delivery + payment). It is also an OTC transaction, that means if you want to activly trade it, you need a clearing account. That alone is a major hurdle for private investors. Then you need credit-lines to conduct OTC-deals with other counterparties. You need relationships to oil-brokers (one will not do) and other market-participants. And you need means of transportation and storage, since those deals are typically not cash-settled. CFDs, mentioned by a poster above, are derivative products, which inherently are not suited to conduct spot transactions. Amateurish regards, P.
Glad to hear you found a broker... i recently heard about a company called Energex...I am not sure their platform is live yet, but check it out. www.Energyforex.com