Prospero lets you trade popular commodity CFDs with leverage, including those for oil, copper, platinum, wheat, cotton other commodities. These CFDs give you an easy and cost- effective way to trade one of the most liquid markets in the world.
By trading commodities as contracts for difference (CFDs), you are only speculating on the price movement and are never required to hold the underlying asset.
Commodity products can be traded with leverage of up to 400:1.
The futures commodity contract generally tracks the movement of the nearest-month futures contract. Such products expire on a monthly basis, closing the open position and opening a new one at the price of the next month’s contract. Due to the properties of the underlying asset, traders do not pay holding costs on the contract.
Spot commodity contracts are presented to traders in the form of spot prices, using algorithms to convert underlying futures prices through algorithms. Such products do not have a fixed expiry date, but traders will be charged a holding cost daily.
For more information please see our [Product Disclosure Statement].
*Prospero only provides general financial advice.
At the end of each trading day (5pm New York time), your open forex trading positions may be subject to a charge known as holding, swap, or rollover cost. The holding cost can be added to or deducted from your account depending on whether you are long or short.
FX holding costs are based on the tom-next (tomorrow to next day) rate and a fixed markup in the underlying market for the currency pair, and are expressed as points in the MT4 platform.
Most liquidity providers around the world (including global banks, financial institutions, prime brokers, and other market participants) are closed for business on Saturday and Sunday. However, they will still charge a holding cost for weekends. Generally, the foreign exchange market will calculate a three-day holding cost for an overnight open position on Wednesday. There is no holding cost on national holidays, but a holding cost for an extra day is calculated two working days before the national holiday.