Trading in Gold and Oil with iFOREX

In spite of the ways the economic world has changed over the past few hundred years, many of the same commodities have retained their status as stores of value and wealth. We live in a world of cryptos and NFTs, which can’t be rubbed or held to the light, but we are still drawn to the warm gleam of gold and the bright glint of silver. We’re making advancements toward utilizing energy in more environmentally friendly ways, but we still largely rely on oil to get to work every day. The global trade in commodities remains enormous, with millions of dollars in metals, oil, and grains changing hands every day all over the world. 

Modern technology has given us the opportunity to trade in these ancient commodities with know-how, speed, and efficiency. For instance, the iFOREX CFD trading platform equips you with tools that can assist you in continually refining your understanding of the oil and gold markets. The iFOREX education center offers succinct explanations about the way these markets work, what drives prices, and how best to take advantage of price volatility. iFOREX was always a platform that aimed to build clients into confident, skilled traders, and they’ve lived up to that mission in their 25+ years’ experience in the business. Join us for a couple of minutes if you’d like to find out why iFOREX might be the commodities trading app you’ve been looking for.

Trading Gold and Oil in CFD Form

Gold prices are driven up and down by the fluctuating forces of supply and demand, but they’re also influenced by changes in exchange rates and market sentiment. The metal retains its status as a hedge against financial risk, drawing lots of buyers when economic turmoil looms. The endless flow of buying interest keeps the gold market highly liquid, which makes it straightforward to sell or buy at almost any time. The oil market, too, is highly liquid (excuse the pun), and it can be volatile. iFOREX trains you in the art of taking advantage of that volatility. 

Using the iFOREX platform, you can open both “buy” and “sell” deals on the prices of gold and oil, which means you can benefit from both bullish and bearish price action. If you believe prices are due to slip, open a “sell” deal; open a “buy” deal if you think prices are going up. Oil and gold CFDs are contracts on future price changes in these commodities, not purchases of the actual materials. They allow you to enter the market at the price of your choice, so you’ll be the one to choose the size of your deal, not the brokerage. 

When you choose your deal size, decide how much leverage you’d like to use. Leverage is a tool that gives you the power to magnify your deal by a factor of up to 400. Therefore, you need only put down $1,000 to open a deal worth $400,000. This means your potential gains, in the event prices go your way, will be increased 400-fold. Your potential losses are similarly multiplied, so use the tool with caution. 

Qualities of the iFOREX Platform

When you trade commodities with iFOREX, you need only glance down at your phone to get in touch with their live rates. Beyond that, you can use specialized tools to gauge market sentiment on your commodity, and to identify prices trends with technical analysis. You’ll also enjoy a stream of relevant financial news on these and other assets, especially prepared for iFOREX clients. In short, you’ll have all you need to track the course of oil and gold prices with cutting-edge technology, and this can keep you one tick ahead of the rest. 

iFOREX makes deposits and withdrawals simple. For deposits, choose between bank wire, eWallets, credit cards, or debit cards. When you want to withdraw your money, just fill in a Withdrawal Request form and upload it to the platform. Your funds will soon be credited to your bank account or credit card. None of your transactions on iFOREX will be charged any sort of commission or fee.

Wrapping Up

One of the hallmarks of iFOREX’s approach is its emphasis on education. Through its long list of articles, PDF guides, and video tutorials, you can keep sharpening your understanding of the markets and instruments you trade in. Visit the iFOREX website to find out more about the company and their unique trading platform.