Crude Oil

Written by Mike Druttman

Reviewed by Nadav Zelver

Introduction

Oil, a non-renewable resource, is a significant and volatile commodity due to its finite global supply and fluctuating demand. As oil prices rise, investing in this precious commodity can be a lucrative opportunity. eToro's trading platform offers the chance to trade oil, and I've prepared a detailed guide to help you navigate this. Additionally, I'll share personal insights that might prove beneficial.

Trading Crude Oil via CFDs

On eToro, trading in oil means dealing with Contracts for Difference (CFDs), not owning the physical commodity. The allure of CFD trading lies in its ability to speculate on market movements without the need for physical possession or storage of the commodity. Crypto CFDs/ Leverage trading is restricted for users under FCA.  

Why I Prefer Trading Crude Oil on eToro

Having traded oil on eToro on multiple occasions, I've observed several advantages:

• User-friendly interface: The platform is intuitive and easy to navigate.
• Flexible trading schedule: Trade according to your own timing and convenience.
• Leverage: This feature enables opening larger positions with a smaller capital commitment, enhancing potential gains.

The Crude Oil Asset Page on eToro

Accessing the crude oil asset page on eToro directs you to the Overview section, which serves as a comprehensive hub. Here, you'll find several key elements:

• Graph: Displays the asset's performance over time.
• About: Provides brief information about crude oil.
• Latest News: Offers the most recent updates related to crude oil, curated by CityFALCON.
• People Also Bought: Suggests other eToro commodities currently popular among traders.
• Copy Investors: Lists top-performing traders in the crude oil market. You can easily copy their trades by clicking the "Copy" button, leading you to the copy trading window.
• Discussions: A space for trader interactions and conversations about crude oil. You can filter to view top or all discussions, and engage by liking, commenting, or sharing posts.

Useful Tools for Trading

What sets eToro apart are the integrated tools that enhance trading experience:

• Chart: Offers a live chart for the asset, customizable from 1-minute to 1-week intervals.
• News and Sentiment Trends: Stay updated with the latest commodity news from CityFALCON. It includes sentiment analysis, indicating if the news mood is positive, negative, or neutral. The Sentiment Trends section quantifies market sentiment over 30 days, showing daily average sentiments and top stories.

Trading Crude Oil on eToro

To trade, simply search for the crude oil asset, select "BUY" or "SELL", enter your investment amount, set your trade preferences, and execute the trade.

Conclusion

That's everything you need to know about trading crude oil on eToro, whether using the web platform or mobile app. Remember these insights and apply them strategically in your online trading journey.