Axitrader launched a Copper CFD contract for trading which is already available.
Copper CFD Now Trading
From ancient coins to modern machinery, Copper has been a crucial part of the global economy for thousands of years. As part of the latest evolution in the Copper economy, AxiTrader is pleased to offer our clients the ability to trade Copper as a CFD.
To access the COPPER.fs Index in MT4, simply right-click on any currency pair in theMarket Watch panel, then click ‘Show All‘. You’ll find Copper there, ready to be traded.
Copper specifications can be found in the AxiTrader Product Schedule.
Value as an economic indicator; trading setups available
Copper is an industrial metal i.e. with industrial application/demand. Therefore strengthening copper price/demand is synonymous with industrial growth i.e. think of growing economy and stock market rally whereas weakening copper price/demand is synonymous with the opposite. This quality of copper makes it a reliable long term economic indicator which has somewhat positive (but delayed) correlation with stock indices.
Peak copper demand was a phenomenon that I pointed out at a TASS event last August (see slide here).
There is one aspect that makes Copper CFD tradable.
Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.
“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.