Commodities
Market Times
Commodities markets do not operate continuously and are open according to specific hours, typically referenced in Eastern Time (ET).
Monday
Open apart from 5 PM - 6 PM
Tuesday
Open apart from 5 PM - 6 PM
Wednesday
Open apart from 5 PM - 6 PM
Thursday
Open apart from 5 PM - 6 PM
Friday
Open until 5 PM
Saturday
Closed all day
Sunday
Open from 6 PM
Additionally, there are the following holidays where market are closed:
January 1st - 2nd
December 25th - 27th
Gaps
The price of commodities can change while the market is closed, leading to gaps when the market reopens at a different price than its previous close. This can significantly affect your trades:
Risk of Liquidation: A gap in the opposite direction of your position can lead to liquidation.
Potential Gains: Gaps can also work to your advantage, potentially leading to higher-than-expected profits.
Due to this, LeverageX cannot guarantee stop losses for commodities, and caution is advised when keeping positions open during market closures.
Reduced Leverage/Increased Spread
During specific conditions, LeverageX adjusts leverage and spread settings temporarily:
Major USD News Events: From 1 hour before to 10 minutes after the event.
Market Closures: Starting 30 minutes before the market closes.
How LeverageX Calculates Prices
LeverageX utilizes data from Pyth.network to determine the price of all commodities pairs. Pyth.network is a decentralized oracle network that aggregates high-fidelity market data from over 70 leading financial institutions, including exchanges, market makers, and proprietary trading firms. By leveraging Pyth.network, LeverageX ensures accurate, real-time pricing, providing traders with a reliable and transparent trading experience.
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