Crude oil trades on MetaTrader 4 as a CFD, so you can go long or short on the price without handling barrels. You'll usually see it under symbols like USOIL/WTI (US crude) and UKOIL/BRENT (Brent), and the exact names vary by broker. Oil is a fast, news-driven market — rewarding to follow, but high-risk.
WTI vs Brent
- WTI (West Texas Intermediate) — the US benchmark; often shown as USOIL or WTI.
- Brent — the international benchmark, priced off North Sea oil; often shown as UKOIL or BRENT.
They move closely together but trade at slightly different prices and react to different regional supply factors.
How to trade oil on MT4
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Find the oil symbol in Market Watch
Look for an oil symbol such as
USOIL/WTI(US crude) orUKOIL/BRENT(Brent crude). If hidden, right-click Market Watch, choose Symbols, and open the Energies group. Names vary by broker. -
Open a chart
Drag the oil symbol onto your workspace or right-click and choose Chart Window, then pick a timeframe.
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Place your trade carefully
Press
F9, set a small volume (oil is highly volatile), add a stop loss and take profit, then Buy or Sell. Be cautious around OPEC meetings and weekly inventory data.
Cash vs futures — check the specs
Brokers offer oil as either a "cash" (spot) CFD or a futures-based contract, which price, finance, and expire differently. Contract sizes and tick values also vary by broker — always read the symbol specifications. Oil can move sharply around OPEC+ decisions and inventory data, so use small sizes, a firm stop loss, and our lot size calculator. Most retail traders lose money.
Start trading oil on MT4
XM offers crude oil CFDs on MetaTrader 4 with a free demo — practise with virtual funds before risking real money.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
Affiliate disclosure: we may earn a commission if you open a broker account through our links, at no extra cost to you. Learn more.
Related guides
See also trading gold, silver, and indices on MT4, or learn how to use MT4.
Frequently asked questions
Can I trade oil on MT4?
Yes. Crude oil trades on MetaTrader 4 as a CFD, usually under symbols like USOIL/WTI (US crude) and UKOIL/BRENT (Brent crude). You go long or short on the price without handling any physical barrels. You need a broker that offers oil.
What's the difference between WTI and Brent?
WTI (West Texas Intermediate) is the US benchmark; Brent is the international benchmark priced off North Sea oil. They track each other closely but trade at slightly different prices and react to different regional factors.
Is oil a cash or futures CFD on MT4?
It depends on the broker. Some offer 'cash' (spot) oil CFDs, others reference dated futures contracts that behave differently around expiry and rollover. Check which your broker offers in the symbol specifications.
Why is oil so volatile?
Oil reacts strongly to OPEC+ production decisions, weekly US inventory data, the US dollar, and geopolitics. Those can move the price sharply, so it's a higher-risk market — use small sizes and a firm stop loss.
What is the contract size for oil on MT4?
It varies by broker, and oil contracts often differ from forex. Always confirm the contract size and tick value for the specific oil symbol in your broker's symbol specifications before trading.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.