UKOIL
What UKOIL is
UKOIL is the symbol many brokers, including Exness, use for a CFD on Brent crude oil. A CFD (contract for difference) is a contract with the broker that pays or charges the change in price. You never own or receive any oil. Brent oil trading through a CFD is speculation on the price movement only.
Brent is a light, low-sulphur crude originally produced in the North Sea. Today the benchmark is a basket of several North Sea grades, and oil cargoes from many regions are priced relative to it.
Why Brent is the global seaborne benchmark
Most of the world's oil moves by tanker, not pipeline. Brent is produced at sea and loaded straight onto ships, so its price reflects what a waterborne cargo is worth on the open market. For that reason a large share of internationally traded crude, including much of the oil bought by Asian importers, is priced against Brent.
For a reader in Pakistan this matters in a practical way. Pakistan imports most of its crude and refined products, and Gulf crude prices track the same international market that Brent represents. A move in Brent often shows up later in import bills, the rupee and fuel prices. See SBP rates and economy for the local side.
The Brent–WTI spread
WTI (West Texas Intermediate) is the main US benchmark, traded on Exness as USOIL. The difference between the two prices is called the Brent–WTI spread.
The spread exists for these reasons:
- Location. WTI is priced at an inland US hub, while Brent is priced at sea. Moving US crude to export terminals costs money.
- Quality. Both are light, sweet crudes, but they are not identical, and refiners value them differently.
- Local supply and demand. US production, US storage levels and US export capacity affect WTI more. Events in Europe, Africa and the Middle East tend to affect Brent more.
Experienced traders watch the spread because it can widen or narrow sharply when one region is disrupted. Some trade the spread itself by holding opposite positions in UKOIL and USOIL. That approach still carries risk on both legs, and margin applies to each position separately unless the broker's hedged-margin rule covers it. Exness lists hedged margin at 0%. Check how this applies to two different instruments in the specification.
What moves the Brent oil price
- Producer decisions. Output policy by OPEC and allied producers changes the supply outlook.
- Middle East risk. Much seaborne crude originates in the Gulf. Conflict, attacks on facilities or sanctions can move Brent quickly.
- Shipping routes. The Strait of Hormuz, the Bab el-Mandeb strait and the Red Sea route, and the Suez Canal are chokepoints. Threats to tankers raise freight and insurance costs, and longer rerouted voyages tighten available supply.
- Inventories. Regular stock reports from the US and other consumers show whether the market is drawing or building oil.
- Demand and the economy. Growth data from China, Europe and the US, and central bank decisions, change the demand outlook.
- The US dollar. Oil is priced in dollars, so dollar strength or weakness feeds into the price.
These factors explain movement after the fact. They do not tell you where the price will go next. For a framework, see fundamental analysis and energy trading.
UKOIL on Exness: what the sources confirm
Only a few points about UKOIL are covered by Exness sources. Everything else, including contract size, pip size, minimum and maximum volume, trading hours and the current spread, must be checked in the symbol specification. In MetaTrader, right-click the symbol in Market Watch and open Specification. You can also check the Exness personal area or the official site.
| Item | What the source says |
|---|---|
| Account types listing energies | Standard: forex, metals, cryptocurrencies, energies, stocks, indices |
| Order execution on Pro | Instant (forex, metals, energies, stocks, indices), market (cryptocurrencies) |
| Order execution on Standard | Market execution |
| Swap for Pakistan-registered clients | Clients from listed Islamic countries, including Pakistan, get swap-free status automatically; by default by default all accounts are swap-free on listed instruments; the status can be lost |
| Unlimited leverage eligibility | Help Center list of eligible commodities: Forex majors and minors, DXY, USDCNH, HKDJPY, USDHKD, USDTHB; all commodities except XAUUSD247; BTCUSD, BTCUSDT, ETHUSD, ETHBTC. Conditions: on real accounts: equity below 5,000 USD and at least 10 closed orders totalling 5 lots or more across real accounts |
| Margin around news | Higher margin requirements apply to orders opened from 15 minutes before to 90 seconds after high-impact news |
| Margin call / stop out | Standard Cent: margin call 60%, stop out 0%; Standard: margin call 60%, stop out 0%; Pro: margin call 30%, stop out 0%; Raw Spread: margin call 30%, stop out 0%; Zero: margin call 30%, stop out 0% |
| Negative balance | Balance reset to 0 after stop out |
Leverage and margin rules change. A Help Center list can lag behind a rollout, so confirm the current leverage for UKOIL in the platform before you open a position. Read more on swap fees, Islamic finance and account types.
Pip value and margin before you trade
Before opening a position, work out what a pip move is worth and how much margin the position ties up. Take the contract size and pip size from the UKOIL specification, then enter them here.
Fill in the empty fields to see the result.
The pip calculator shows the value of a pip for your lot size, in the quote currency and in your account currency.
Fill in the empty fields to see the result.
The margin calculator shows the margin required at your leverage. Higher leverage lowers the margin you need, but the gain or loss per pip stays the same. A small price move can therefore take a large share of your balance.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
Risk you should take seriously
Brent can gap sharply on weekend news, supply announcements or shipping incidents. Stop-loss orders can then fill at a worse price than you set. Leveraged CFD trading can lose money fast, and most of that loss can happen in a single session. A stop out at a low level, such as the 0% stop out on Standard, means positions can stay open until almost all equity is gone. Note also that 0% stop out not supported in some countries; may vary.
Practise first on a demo account and read risk management.
Legal position in Pakistan
Read this before you open any offshore trading account:
- On remittances: per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)).
- Per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947.
- Per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse.
The SECP supervises local futures brokers, and commodity futures are traded locally through PMEX. See law and regulators and regulation and safety.
Frequently asked questions
Is UKOIL the same as Brent crude?
UKOIL is a CFD symbol that tracks the Brent crude price. You trade price changes only and receive no oil.
What is the difference between UKOIL and USOIL?
UKOIL follows Brent, the seaborne global benchmark. USOIL follows WTI, the US inland benchmark. The gap between them is the Brent–WTI spread.
What is the contract size and pip value of UKOIL on Exness?
These figures are not in our sources. Check the specification in the platform, then use the pip calculator above.
Do Pakistani clients pay swap on UKOIL?
Exness says clients registered from Islamic countries, including Pakistan, get swap-free status automatically. Confirm the status on your account in the personal area.
Why does Brent react to Middle East news?
Much seaborne crude comes from the Gulf and passes through narrow shipping routes. Any threat to supply or tankers changes the expected availability of oil.
Can I lose more than my deposit?
Exness states that if a stop out would leave a negative balance, it is restored to zero. You can still lose your entire deposit quickly.
