Leading currency trading company, iForex, has recently expanded its services, giving all Forex trading accounts direct access to oil CFDs.

Targeting an audience that has little or no experience with commodity trading, iForex is attempting to extend its variety of tradable assets by allowing its clients to trade commodities in high demand, such as oil.

“With the demand of oil contracts constantly growing, there has been a common trend among traders to take a part in trading this commodity as its prices are easy to follow on the news. Active traders have also shown a keen interest in this product as it adds diversity to their tradable financial products, apart from the Foreign Exchange market,” a statement said.

The addition of oil to the catalog of CFDs offered by iForex has been significant, especially as the global demand for oil continues to rise, the statement said.

“The price of oil has recently hit an astonishing high of $111 per barrel in January of 2012. The addition will give iForex's traders the ability to diverse their portfolios and benefit from the constant movements in the commodity market.” – TradeArabia News Service