ZincSpot
The underlying instrument for ZincSpot is LME ZINC FUTURE.
This underlying Futures product is trading at the London Metal Exchange. Zinc is widely used in the production of chemicals, medicine, and batteries. The biggest producers of zinc are China, Peru, and Australia. This Futures product allows traders to speculate/hedge the price movements of zinc.
Margin Requirements
To view current margin requirements, visit the below link:
Trading Hours
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted here. ZincSpot is a spot product, so there is no expiration.
Target Spread
ZincSpot has a target spread of 6 pips/points
Max Contract Size
The maximum number of contracts per click (trade) for ZincSpot is 5000
Minimum Pip Cost (Value)
ZincSpot has a minimum value of $1.00 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value). The pip/point location is shown in the diagram. Each 1.00 price movement on ZincSpot is 1 pip/point.
Number of FXCM Contracts to Equal 1 Future
25 FXCM ZincSpot contracts are currently equivalent to one LME ZINC FUTURE.
Other Information
ZincSpot does not expire.
ZincSpot does have financing cost (Rollover). The calculation is as shown:
Long positions:
((4th Month Futures Price-3rd Month Futures Price)/(Total trading days of New Month Future) +Markup)×(-1)×point cost
Short positions:
((4th Month Futures Price-3rd Month Futures Price)/(Total trading days of New Month Future)-Markup)×point cost
Notes on the financing cost:
* FXCM's Markup is currently 10 cents, but subject to change.
* Point cost for one contract is 1.
* To account for holding a position into the weekend, there is a 3X rollover on Wednesdays.
There is no minimum stop distance on ZincSpot.