Hello there !

I'd like to open a long term buying position on Brent crude oil, but i don't know which instrument i should pick and where i could invest.
I checked CFDs with Oanda, and they charge a spread + 10% annual fees, which is called "a daylight robbery" by some. That'd definitely eat a sizable part of profits and increase losses substantially.

Where should i look if i want to gamble on oil long term ? Is it possible to buy futures with a meager investment of 5-10k$ and renew/reroll these myself ?

WAC.

Use Interacrive broker.
Buy Rdsb, BP or xle.

LSE: OILB for brent, CRUD for Crude.

Thanks, i'll give it a look ! Interactive Broker is a trusted broker, right ? I see the founding date is 1978. Do they offer good fees ? I guess i'll have to read a bit about all this.

Thanks, gonna check it out ! I'm sorry i'm a noob, what are these OIL SECURITIES compared to the underlying futures ? The prices follow each other closely ? What fees do you think i would get on long term positions ?

Follow what ramjade said, get IB or Captrader or Tradestation if you are based in Msia.

If you plan to hold for long term, get Tradestation global/captrader.

Ramjade's bp, rdsb are OnG company shares, the two i put up are ETCs.

Read more on the other threads in the forum or just do a quick search, alot of information lying around.

https://forum.lowyat.net/topic/4843925
https://forum.lowyat.net/topic/3396549

if u want pure crude and not oil/services stocks, take a look at USO (tracking WTI, not brent).

this is an ETP, base on crude futures... be sure u understand the underlying workings.... incl contango and backwardation.

the one, u can buy with local or foreign brokers.
https://www.investopedia.com/articles/marke...est-oil-uso.asp

Thanks everyone, very appreciated. By the way, how do you convert your RMs in the typical USDs required by brokers at the lowest fee ?

my maybank CDS account until now not yet activated global counter , only can trade on BURSA. i email to them they will activate within a week , after a week still cannot access. anyone has any idea?

Once u have ur global account set up, you can also buy oil at Hkex using 03175 HK. Samsung oil etf.

dont know when can the global trading activated, i might miss the chance. crude oil will continue to drop ? i heard more mass production in april

It should be low for quite a while. Demand kaput because of covid and exporters producing as much as possible.

However even at low prices there will be crazy price swings on many days if u dare to play.

RM -> fintech -> SG bank account (SGD) -> FAST transfer into Interacrive broker account (FAST = like our IBFT) -> exchange SGD to USD via interactive broker platform at spot rate (real time, real rates without the markup for USD2.00/transaction regardless amount)

can local msians register with tradestation? how to transfer funds to tradestation?

yes can, just google tradestation global, choose the international platform.

After that, like that the others say, use transferwise/instarem/bank to transfer to CIMB SG account then use CIMB SG to transfer/wire in.

Unsure on this, @Ramjade can advice.