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Established in:


Regulated by:

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Losses can exceed deposits
CFDs are leveraged products and 73% of retail traders lose money when trading CFDs.Cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. Rankings are influenced by affiliate commissions. All information collected on 1/11/2017.

The Ultimate Guide to

Choosing a Broker
For Trading Heating Oil

Not sure which broker is right for you?

Don’t worry - we’ve got you covered. In this guide, you’ll learn:


Part 1

Why Choose
For Trading Heating Oil? scored best in our review of the top brokers for trading heating oil, which takes into account 120+ factors across eight categories. Here are some areas where scored highly in:

  • 19+ years in business
  • Offers + instruments
  • A range of platform inc. MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 1.00pips
  • Used by 0+ traders
  • Allows hedging
  • 1 languages offers one way to tradeForex. If you wanted to trade HEATINGOIL

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc. have a AAA trust score, which is v. good. This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19

Trust Score comparison
Trust Score AAA
Year Established 1999
Regulated by Financial Conduct Authority
Uses tier 1 banks
Company Type Private Private Private
Segregates client funds

The second thing we look for is the competitiveness of the spreads, and what fees they charge. We’ve compared these in detail in part three of this guide.

Part 2

Who is (& Isn’t)
Suitable For

As mentioned, allows you to trade in one way: Forex.

Suitable for:

  • CFD Trading
  • Forex Trading

Not Suitable for:

To trade with, you’ll need a minimum deposit of $250. offers a range of different account types for different traders including a mini account, . is also suitable for traders looking to trade with an ECN broker. ECN trading allows the trader to get access to the actual pricing of instruments as set by the banks and liquidity providers, rather than relying on the broker to set the price. To open an ECN account with you will need a minimum deposit of $100,000

Finally, isn’t available in the following countries: BE.

Part 3

A Comparison of vs. vs.

Want to see how stacks up against and ? We’ve compared their spreads, features, and key information below.

Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
Fixed Spreads
Variable Spreads
EUR/USD Spread 1.00
GBP/USD Spread 0.9
Gold spreads from 0.3
Silver spreads from 0.61
Copper spreads from 7.0
Crude Oil spreads from 5.0
Natural gas spreads from 8.0
DAX Spread 250.0
FTSE 100 Spread 150.0
S&P500 Spread 50.0

Comparison of account & trading features
Platform MT4, Web Trader, NinjaTrader, Tablet & Mobile apps
Services Forex
Base currency options USD, GBP, EUR
Funding options Bank transfer, Cheque, DebitCard,
Micro account
ECN account

Part 4

What Is Heating Oil?

Derived from petroleum (and thus from crude oil), heating oil is a low viscosity oil. Though it is similar to the oil used in diesel engines, as its name indicates, heating oil is primarily used in boilers and other heaters in both domestic and commercial properties. Often referred to simply as ‘HHO’, it is in wide use throughout the globe. The heating oil industry is worth around $34 billion annually, though industry statistics from IBIS indicate that this industry has shrunk by -4.4% over the past year. The biggest producers of heating oil are Russia, Saudi Arabia and the US, whilst the biggest consumers are the US, China and Japan.

2: Fundamental Influences Of Heating Oil:

Fuel is required in many households on a seasonal basis: in Ireland, oil providers such as EMO report that demand for heating oil is higher during the winter months where more energy is required to heat homes and commercial properties. When deployed in factories and heavy industry, however, heating oil is required consistently throughout the year.

Political ties with key oil producing countries such as the US and Russia can dramatically influence the cost of heating oil. One key example to examine currently is Venezuela; consistently one of the top 10 oil producers in the world, Venezuela’s current political troubles are disrupting its ability to supply oil to the rest of Latin America and beyond.

3: How Is Heating Oil Traded?

Heating oil is traded as a viscous liquid. When condensed, it is known as ‘petroleum jelly’ and this is a different product entirely. Heating oil needs to be kept in tanks with specific safety requirements: it is a criminal offence to store heating oil in an inadequate tank. Heating oil can be sold via representatives, on the spot market, or as a futures or options contract. A CFD (Contract for Difference) and certificates are two other options when it comes to trading heating oil.

4: What Are The Most Popular Forms Of Trading Heating Oil?

The most popular forms for trading heating oil, and indeed any type of oil, are Brent Crude and WTI. Brent Crude is deployed worldwide as a benchmark for classifying oil. Brent Crude oil is known as ‘sweet’ (i.e. low in sulphur) and ‘light’ (i.e. relatively low in density). West Texas Intermediate (WTI) is a similar benchmark, and it is also used worldwide. WTI crude oil is also classified as ‘sweet and light’, though it is substantially lighter and sweeter than Brent Crude oil.

5: Advantages Of Trading Heating Oil As A CFD

One of the main advantages of trading Heating Oil as a CFD vs a Futures contract is the required capital, as Futures contracts are designed for large corporation and institutional traders, the required capital reflects this requirement. However, trading Heating Oil as a CFD with a broker like Plus500, drastically reduces the capital requirements using leverage. Plus500 offer leverage up to 1:152 on Heating Oil CFD’s which means that a trader can open a £15,200 position in Heating Oil with a £100 account size. It is important to note however, leverage can work both ways and amplify both losses and profits.

6: Spot Heating Oil vs Heating Oil Futures

Whether you trade on the spot market or as part of a futures contract will depend on the way in which you balance the difference between these two forms of trading. The key differences are outlined below:

Trading heating oil on the spot market:

  • A lower capital requirement
  • Trades are completed instantly
  • Traders can access larger trading volumes

Trading heating oil futures:

  • Only a marginal value is initially invested
  • The heating oil futures market is more liquid than the spot marker
  • Futures are better for managing risk

Alternative Commodities To Heating Oil

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