Contract months
Each future is tied to a contract month. Prices include the cost of carry until that date, so they can differ from spot.
Markets
Futures trading
Trade futures on energies, metals and indices from one account. US oil, gold, the S&P 500 and more, with cash settlement and no physical delivery.
- Instruments
- 10
- Sectors
- 3
- Settlement
- Cash only
- Contract cycles
- Monthly and quarterly
Future energies
Crude and gas benchmarks that react to inventories, OPEC decisions and the weather.
- CL
US Oil
WTI crude futures, the American benchmark listed on NYMEX.
- BRN
UK Oil
Brent crude futures, the global benchmark for Atlantic basin oil, listed on ICE.
- NG
Natural Gas
Henry Hub natural gas futures, a seasonal market driven by storage and demand.
Future metals
Precious and industrial metals traded on COMEX, quoted in US dollars.
- GC
Gold
The benchmark gold contract, moved by real rates, central bank demand and risk sentiment.
- SI
Silver
Part precious, part industrial, with demand from solar, electronics and jewellery.
- HG
Copper
The industrial bellwether, closely tied to construction, power grids and global growth.
Future indices
Equity index futures that let you take a view on a whole market in one position.
- YM
Dow Jones
The Dow Jones Industrial Average, 30 large US blue-chip companies.
- ES
S&P 500
The broad US benchmark of 500 leading companies, listed on CME.
- NQ
Nasdaq 100
The 100 largest non-financial companies on Nasdaq, led by technology.
- FDAX
DAX Index
The 40 largest German companies, listed on Eurex.
How futures trading works
Expiry and rollover
Positions close at the published last trading day. Roll to the next contract before expiry to keep your exposure.
Cash settled
You trade the price only. There is no physical delivery of oil, gas or metal.
Both directions
Go long when you expect a rise, or short when you expect a fall.
Live underlying prices
Spot and cash index prices of the underlying markets, shown for reference. Futures prices can differ from these.
Futures questions
Short answers to what traders ask most. Anything else, our team is a message away.
What is the difference between futures and spot?
Spot prices are for immediate settlement. Futures prices are for a set date in the future and include financing and storage costs, so the two can trade at different levels.
What happens when a contract expires?
Open positions close at the last trading day. Check the expiry calendar and roll to the next contract month if you want to stay in the trade.
Do I take delivery of anything?
No. All futures trades settle in cash. There is no physical delivery.
Where can I see expiry dates?
The futures expiry dates page lists the contract cycles and last trading days.
Are futures suitable for everyone?
No. Futures are leveraged and prices can move fast, so losses can exceed your deposit. Read the risk disclosure before you trade.