CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.43% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Read full risk warning.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

How to Trade Brent Crude Oil CFDs Without Experience

Filip Dimkovski - Writer for Fortrade
By Filip Dimkovski
Joel Taylor - Editor for Fortrade
Edited by Joel Taylor

Updated November 21, 2023.

Oil barrels in front of a stock graph on a white background

Trading Brent crude oil CFDs can be quite intimidating, especially if you have never done it before. This is because the oil market is known for being one of the most volatile markets out there, making it a possibility for traders to potentially turn a profit. However, it can also be risky, so having the right tools and strategies is essential.

Of course, trading oil in a traditional way is difficult, which is why we now have CFDs. This means that there's no need to handle physical contracts or invest in a physical asset, and you can trade with the price difference between opening and closing prices without actually owning instruments.

So, if you're ready to take the plunge and learn how to trade Brent crude oil CFDs without experience, read on. We'll cover everything you need to know, from the basics to strategies and tips.

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Trading Brent Crude Oil CFDs

Trading Brent crude oil through CFDs is often commission-free, with brokerages making a small profit from the spread. It sounds simple enough, but for beginners, it can be quite overwhelming. To help, we have broken down trading Brent crude oil CFDs into four steps:

  1. Sign up for an account with a CFD trading platform As a beginner, it's important to choose one that offers a wide range of tools and resources. Also, make sure to read the terms and conditions of the brokerage carefully before you commit to it.
  2. Download and install the trading platform on your device This can be a mobile app, desktop app, or even a web-based platform, depending on what the brokerage offers.
  3. Deposit funds into your account This can be done through a variety of methods, including credit cards, bank transfers, and e-wallets.
  4. Start opening and closing trades from the trading platform You can choose to open long or short positions, depending on whether you think the price of Brent crude oil will go up or down.

Of course, there is much more to learn before you can trade confidently—like the basics of CFD trading, as well as some strategies and tips to help you make trades.

» Read more about trading crude oil CFDs in volatile markets