Market Information
LCG offer a variety of financial markets which include Commodities (WTI Crude oil, Brent Crude oil, Gasoil, Gold, Silver, Coffee, Cocoa and Sugar), Currencies and Indices. See below for further information on each market.
All times given are UK time.
We offer quotes on a range of commodity markets including energy markets, for example, Gold and Silver, and soft commodities such as Coffee, Cocoa and Sugar. Each of our quotes reflects the real underlying future contracts allowing you to take the view that a commodity, oil or metal is overvalued or undervalued.
Trading commodities can be exciting, but at the same time risky due to their nature. Whilst the majority of these markets are electronically traded, the majority have different trading hours from each other and are priced slightly differently.
| Market | LCG quoting hours | Contract size | Tick Size | Tick Value | Min Trade Size | Spread (Overnight Spread) | Max Leverage | Contracts Quoted | Last Trading Day | Settlement details | Notes |
| Energy Markets | |||||||||||
| Brent Crude Oil Futures | (01:05 - 07:00) 07:00 - 21:00 (21:00 - 22:55) | 1,000 Barrels | 0.01 | $10 | 0.1 lot | $0.05 ($0.1) | 100:1 | Next Month | 2 business days before the 15th day prior to the first day of the delivery month at 17:00 | Official ICE settlement on our last trading day | Close 21:00 on Friday |
| WTI Crude Oil Futures | (23:00 - 07:00) 07:00 -21:00 (21:00 - 22:15) | 1,000 Barrels | 0.01 | $10 | 0.1 lot | $0.05 ($0.1) | 100:1 | Next Month | 6 business days before the 25th calendar day of month prior to the contract month at 19:00 | Official NYMEX settlement on our last trading day | Close 21:00 on Friday |
| Gasoil Future | 01:05 - 22:55 | 100 Metric Tonnes | 0.1 | $10 | 0.1 lot | $1.00 | 100:1 | Next Month | 3 business days prior to the 14th calendar day of the delivery at 12:00 | Official ICE settlement on our last trading day | Close 21:00 on Friday |
| Natural Gas Futures | 23:00-22:15 | 10,000 MMBtu | 0.001 | $10 | 0.1 lot | $0.03 | 100:1 | Next Month | 4 business days prior to the first business day of the contract month at 19:30 | Official NYMEX settlementon our last trading day | Close 21:00 on Friday |
| Heating Oil Futures | 23:00-22:15 | 42,000 U.S. Gallons | 0.01 | $4.20 | 0.1 | $0.30 | 100:1 | Next Month | 2 business days prior to the first business day of the contract month at 19:30 | Official NYMEX settlementon our last trading day | Close 21:00 on Friday |
| Gasoline RBOB Futures | 23:00-22:15 | 42,000 U.S. Gallons | 0.01 | $4.20 | 0.1 | $0.30 | 100:1 | Next Month | 2 business days prior to the first business day of the contract month at 19:30 | Official NYMEX settlementon our last trading day | Close 21:00 on Friday |
| Metals | |||||||||||
| Gold Spot | 23:00 - 22:15 | 100 Troy oz | 0.1 | $10 | 0.1 lot | $0.50 | 100:1 | Rolling | N/A | N/A | Close 21:00 on Friday |
| Gold Futures | 23:00 - 22:15 | 100 Troy oz | 0.1 | $10 | 0.1 lot | $0.60 | 100:1 | Next Month of Feb, Apr, Jun, Aug, Dec | 4 business days prior to the first business day of the contract month at 18:30 | Official COMEX Settlement on our last trading day | Close 21:00 on Friday |
| Silver Future | 23:00 - 22:15 | 5,000 Troy oz | 0.01 | $50 | 0.1 lot | $0.03 | 50:1 | Next Month of Mar, May, Jul, Sep, Dec | 4 business days prior to the first business day of the contract month at 18:30 | Official COMEX settlement on our last trading day | Close 21:00 on Friday |
| High Grade Copper | 23:00-22:15 | 25,000 lbs | 0.05 | $12.5 | 0.1 lot | $0.40 | 50:1 | Next Month of Mar, May, Jul, Sep, Dec | 4 business days prior to the first business day of the contract month at 18:00 | Official COMEX settlementon our last trading day | Close 21:00 on Friday |
| Softs | |||||||||||
| Coffee | 08:30 - 19:00 | 37,500 lb | 0.01 | $3.75 | 0.1 lot | $0.20* | 100:1 | March, May, July, September, December | 15 business days prior to 1st day of delivery month | Official ICE settlement on our last trading day | |
| Cocoa | 09:00 - 19:00 | 10 metric tonnes | 1 | $10 | 0.1 lot | $6* | 100:1 | March, May, July, September, December | 15 business days prior to 1st day of delivery month | Official ICE settlement on our last trading day | |
| Sugar | 07:30 - 19:00 | 112,000 lb | 0.01 | $11.2 | 0.1 lot | $0.04* | 100:1 | March, May, July, October | 10 business days prior to 1st day of delivery month | Official ICE settlement on our last trading day | |
| US Soybean Futures | 00:00-13:15 15:30-19:15 | 5000 Bushels | 0.25 | $12.5 | 0.1 lot | $2* | 100:1 | Next Month of Mar, May, Jul, Sep, Dec | 8 business days prior to the first business day of the contract month at 19:00 | Official CBOT Settlement on our last trading day | |
| US Wheat Futures | 00:00-13:15 15:30-19:15 | 5000 Bushels | 0.25 | $12.5 | 0.1 lot | $1* | 100:1 | Next Month of Mar, May, Jul, Sep, Dec | 8 business days prior to the first business day of the contract month at 19:00 | Official CBOT Settlement on our last trading day | |
* Typical spread applied around underlying market spread
The Forex currency market, also known as FX, is different to other financial markets in that it is not traded on a formal exchange. Volumes traded in the currency markets are vast totalling some $2 trillion every day and as a result FX makes up the largest and the most liquid markets in the world.
Not only are participants in the FX markets governments and banks, but they are individual companies and even retail investors all of whom are using price fluctuations to profit from movements in exchange rates or to hedge themselves against exposure to other currencies. The Forex markets are open 24 hours a day and we quote the major FX pairs overnight allowing you to trade outside of our core opening hours.
| Market | LCG quoting hours | Contract size | Min Trade Size | Spread (Overnight Spread) | Max Leverage | Rollover Day | Settlement details | Notes |
| Major FX | ||||||||
| AUD/JPY | 24 Hours | AUD 100,000 | 0.1 lot | 3 | 300:1 | N/A | 'N/A as FX trades do not have an expiry date | Close 21:00 on Friday - Markets Closed for Rollover between 21:55 - 22:05 |
| AUD/USD | 24 Hours | AUD 100,000 | 0.1 lot | 1 | 300:1 | N/A | ||
| EUR/CHF | 24 Hours | EUR 100,000 | 0.1 lot | 3 | 300:1 | N/A | ||
| EUR/GBP | 24 Hours | EUR 100,000 | 0.1 lot | 2 | 300:1 | N/A | ||
| EUR/JPY | 24 Hours | EUR 100,000 | 0.1 lot | 3 | 300:1 | N/A | ||
| EUR/USD | 24 Hours | EUR 100,000 | 0.1 lot | 1.5 | 300:1 | N/A | ||
| GBP/CHF | 24 Hours | GBP 100,000 | 0.1 lot | 5 | 300:1 | N/A | ||
| GBP/JPY | 24 Hours | GBP 100,000 | 0.1 lot | 4 | 300:1 | N/A | ||
| GBP/USD | 24 Hours | GBP 100,000 | 0.1 lot | 2 | 300:1 | N/A | ||
| USD/CAD | 24 Hours | USD 100,000 | 0.1 lot | 3 | 300:1 | N/A | ||
| USD/CHF | 24 Hours | USD 100,000 | 0.1 lot | 2 | 300:1 | N/A | ||
| USD/JPY | 24 Hours | USD 100,000 | 0.1 lot | 2 | 300:1 | N/A | ||
| USD/NOK | 24 Hours | USD 100,000 | 0.1 lot | 50 | 300:1 | N/A | ||
| Minor FX | ||||||||
| AUD/NZD | 24 Hours | AUD 100,000 | 0.1 lot | 10 | 300:1 | N/A | 'N/A as FX trades do not have an expiry date | Close 21:00 on Friday - Markets Closed for Rollover between 21:55 - 22:05 |
| AUD/CAD | 24 Hours | AUD 100,000 | 0.1 lot | 6 | 300:1 | N/A | ||
| AUD/CHF | 24 Hours | AUD 100,000 | 0.1 lot | 8 | 300:1 | N/A | ||
| EUR/CAD | 24 Hours | EUR 100,000 | 0.1 lot | 10 | 300:1 | N/A | ||
| EUR/AUD | 24 Hours | EUR 100,000 | 0.1 lot | 4 | 300:1 | N/A | ||
| CHF/JPY | 24 Hours | EUR 100,000 | 0.1 lot | 4 | 300:1 | N/A | ||
| NZD/JPY | 24 Hours | GBP 100,000 | 0.1 lot | 8 | 300:1 | N/A | ||
| CAD/JPY | 24 Hours | GBP 100,000 | 0.1 lot | 6 | 300:1 | N/A | ||
| GBP/AUD | 24 Hours | GBP 100,000 | 0.1 lot | 6 | 300:1 | N/A | ||
| GBP/CAD | 24 Hours | USD 100,000 | 0.1 lot | 10 | 300:1 | N/A | ||
| GBP/NZD | 24 Hours | USD 100,000 | 0.1 lot | 15 | 300:1 | N/A | ||
| CAD/CHF | 24 Hours | USD 100,000 | 0.1 lot | 6 | 300:1 | N/A | ||
| NZD/CHF | 24 Hours | USD 100,000 | 0.1 lot | 8 | 300:1 | N/A | ||
| NZD/USD | 24 Hours | USD 100,000 | 0.1 lot | 3 | 300:1 | N/A | ||
| NZD/CAD | 24 Hours | USD 100,000 | 0.1 lot | 12 | 300:1 | N/A | ||
| USD/HKD | 24 Hours | USD 100,000 | 0.1 lot | 10 | 300:1 | N/A | ||
An index is the value of a particular market that is made up of a certain number of stock prices. The value is expressed as a price that has changed from a base value allowing investors to perceive how a particular stock market has performed. Indices measure and represent a value of a basket of shares and for the majority of the world's major indices there are future prices as well as the specific cash price.
| Market | LCG quoting hours (Overnight hours) | Contract size | Min Trade Size | Spread (Overnight Spread) | Max Leverage | Rollover Day | Settlement details | Notes |
| AEX 25 | 07:00 - 21:00 | EUR 200 per full point | 0.1 lot | 20 | 40:1 | N/A | N/A | |
| AUS-200 Cash | 22:50 - 05:30 & 06:10 - 21:00** | USD 25 per full point | 0.1 lot | 1(4) | 100:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
| CAC 40 Cash | 07:00 - 21:00 | EUR 10 per full point | 0.1 lot | 1 | 40:1 | N/A | N/A | |
| DAX 30 Cash | 07:00 - 21:00 (21:00 - 21:15) & (21:30 - 22:15) & (23:00 - 07:00) | EUR 10 per full point | 0.1 lot | 1 (6) | 100:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
| FTSE 100 Cash | 08:00 - 21:00 (21:00 - 21:15) & (21:30 - 22:15) & (23:00 - 08:00) | GBP 10 per full point | 0.1 lot | 1 (5) | 100:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
| HS Hong Kong (HSI) Cash | 01:15 - 04:00 & 05:00 - 08:15* | HKD 50 per full point | 0.1 lot | 20 | 40:1 | N/A | N/A | |
| Nasdaq 100 Cash | 21:30 - 22:15 & 23:30 - 21:15 | USD 100 per full point | 0.1 lot | 0.4 | 100:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
| Nikkei 225 Cash | 21:35 - 22:15 & 23:05 - 21:15 | USD 5 per full point | 0.1 lot | 20 | 40:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
| S&P 500 Cash | 21:30 - 22:15 & 23:30 - 21:15 | USD 100 per full point | 0.1 lot | 0.4 | 100:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
| Wall St Cash | (21:30-22:15) & (23:00-14:30) & 14:30-21:00 & (21:00-21:15) | USD 10 per full point | 0.1 lot | 1(2) | 100:1 | N/A | N/A | Open Sunday at 23:05, Closed 21:15 - 21:30 & 22:30 - 23:30 |
Futures Indices
| Market | LCG quoting hours | Contract size | Tick Size | Tick Value | Min Trade Size | Max Leverage | Contracts Quoted | Last Trading Day | Settlement details |
| US-$ Index Future | 01:00 - 23:00 | 1000$ x Index | 0.1 lot | $0.030 | 0.1 | 100:1 | Current Quarter | Friday preceding 3rd Wednesday of contract month until 20:00 | Settlement at last market traded price in the future before 21:00. |
* +1 hour during BST
**00:50-07:30 & 08:10-22:00 for period from second Sunday in March to first Sunday in November
Contracts
Cash Contracts
Cash contracts provide a cost-effective solution for short to medium term trading. They do not have an expiry date and an overnight financing rate is applied for every night that you hold a position open. This is due to you only having a small percentage of the full value of the trade as margin on deposit, therefore your account incurs a debit or credit for each day that the position is held overnight. Similar to a mortgage on a property, you can put down a deposit and the remaining balance you can pay for with an interest only loan from the bank. In the event of a corporate action or dividend being applied to the underlying market, a cash adjustment may be made to the account to reflect this redistribution of cash. A haircut may be applied to the value of this cash adjustment.
Future Contracts
Futures contracts will expire at a future date. The price is derived from the relevant underlying product or a related future and will factor in the cost of carry to the expiry date. No overnight finance charges will therefore be applied to positions held overnight. Relevant interest rate levels and time to expiry are the key determinants of the cost-of-carry that will be factored into the future contract price. In the case of equity related futures, we may apply a cash adjustment in the event of corporate actions or dividend payments during the life of the contract to reflect this redistribution of cash if it has not been discounted in the future contract’s price. A haircut may be applied to this adjustment dependant on several factors for example applicable tax rates, clearing cost to process dividend payments etc. The future contract can be closed at any time before it expires, just as you can with a Cash contract.
LCG also offers the facility to rollover futures contracts. If you chose to roll any quarterly or monthly contracts, you will need to contact us shortly before our expiry date to leave a rollover instruction. For indices, commodities and Forex contracts, LCG will close the trade at our midpoint and offer the subsequent quarter at the corresponding level. Please note that on rollover of futures contracts, the existing trade is closed, realising any profits or losses incurred and a new position is subsequently opened.
