HiwayFX said on Monday it has expanded its product offering with futures on copper.
Futures are a type of contract that require traders to purchase a pre-determined number of instruments at a price and date that were agreed upon in advance.
Following are more details about the trading conditions of futures on copper.
“As the copper price is so closely tied to the state of the economy, global economic recovery can be a clear signal that demand for copper is due to increase, as decreased unemployment will result in more houses being constructed, for which copper is a key component,” the broker said in a notice.
As of Monday, the broker also started offering select instruments with higher leverage. The leverage rate of some popular indices was increased to 1,000:1, while US and UK oil and copper are now available with a leverage of 100:1. See more below:Meanwhile, HiwayFX has cut the leverage on the HK50 index to 100:1 from 500:1. The broker did not explain its move.
HiwayFX is a brand operated by Hiway Markets Ltd. The broker is licensed by the Cyprus Securities and Exchange Commission (CySEC). The broker offers trading in forex, binary options, indices, energies, metals, and other commodities.