IBFX Australia adds Spot Oil, Gold and Silver CFDs to TradeStation Platform

The ASIC regulated entity under the global brand adds XTIUSD, XAUUSD and XAGUSD as spot CFD contracts to its staple

IBFXThe TradeStation Forex division of IBFX AU, a Monex Group company, has announced the addition of three new Contracts for Difference (CFD) offerings on the TradeStation platform including spot oil, gold and silver CFDs.

These will be respectively traded as XTIUSD (U.S. crude oil/U.S. dollar), XAUUSD (gold/U.S. dollar) and XAGUSD (silver/U.S. dollar), according to the official press release and all of which trade similarly to spot OTC currency contracts, and cash-settled with no contract expiration (automatic rollover) and no delivery risk.

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Commenting in the corporate press release, Gary Weiss, President and COO of IBFX AU, who is also part of the TradeStation executive officers’ team said, “Spot oil, gold and silver CFDs are a convenient way to trade different commodities without actually taking delivery.” Mr. Weiss added in his statement according to the announcement, “Because these contracts are affected by global economic and political factors, they’re popular with traders seeking to take advantage of price action in multiple markets.”

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Gary Wiess, President and COO of IBFX Australia
Gary Wiess, President and COO of IBFX Australia

Mr. Weiss concluded in the official press release regarding the benefits provided by diversifying using such products adding,”They also offer traders the opportunity to diversify their portfolios and hedge against risk. For example, gold and silver are often considered a hedge against inflation or against the dollar. Gold has also traditionally been considered a ‘safe haven’ investment during times of high volatility and uncertainty in the U.S. dollar.”

In addition to adding the three new CFDs to its TradeStation legacy platform, the firm also offers MT4, an institutional platform named Ifx, and social trading via IBFXConnect and ZuluTrade platforms. The trading of gold and silver CFDs were already available via IBFX AU’s MT4 offering, and thus expands these instruments to its TradeStation platform along with the addition of the XTIUSD contract for US crude oil.

TradeStationThe company’s technology affiliate, TradeStation Technologies, Inc., develops and offers strategy trading software tools and subscription services. TradeStation Europe Limited, an FCA-authorized brokerage firm, introduces UK and other European accounts to TradeStation Securities, Inc., IBFX, Inc. and IBFX AU. The announcement today relates to IBFX Australia which is ASIC regulated. TradeStation is a wholly owned subsidiary of Monex Group, Inc., one of the largest online financial services providers in Japan.

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