The FinancialApproved broker-member Robomarkets has announced the launch of new Gold and Oil Contracts for Difference (CFDs) products available for trading on the R Trader platform. In particular, the broker has added CFDs on XAUUSD, XAGUSD, BRENT.oil, and WTI.oil. For all of the instruments, the broker offers spreads from $0.1. For the CFDs on metals, the firm charges a commission of $15 per $1 million trading volume, for CFDs on oil, the commission is $35 for $1 million trading volume.
To trade on the R Trader platform, users need to deposit a minimum of $100 and receive trading services on the foreign exchange (forex), CFDs, exchange-traded funds (ETFs), cryptocurrencies, indices and more than 12,000 stocks using a desktop or mobile version of the platform.
Given that both gold and oil have been experiencing significant price movements for the last few weeks amid the COVID-19 pandemic disruptions, it is no surprise that the broker chose to add such trading products to its platform. Gold, specifically, has historically been a “safe haven” asset for investors and has experienced a significant rise in price since investors became more risk-averse during the spread of the COVID-19 virus around the world.