Where can I trade oil (commodity)?

[sptnz]

Hi

This isn't my first post but I'm most definitely a newbie.

Rather than bore you with a spiel about my newbieness I was wondering where NZ traders go to buy/sell oil? Say US Oil? Or would they just buy an oil company?

Cheers

sptnz

[peat]

again (even though you told us you had a bad experience with them) CFD's are useful as they allow trading of almost any stock, index, or commodity.

[sptnz]

again (even though you told us you had a bad experience with them) CFD's are useful as they allow trading of almost any stock, index, or commodity.

thanks for your reply; so there are no options for NZers other than CFDs?

[peat]

I dont know of any but that doesnt mean there isnt
The internet breaks down the barriers though so a google etc found me http://www.tradecrudeoil.net/oil-brokers/easy-forex-broker/

[ENP]

There are ETF's in the USA and also the UK.

Basically follows the exact price of the oil, kind of like an index fund for the NZX 50.

[JBmurc]

you could buy a warrant though someone like CWA I lost alot of money in warrants I was bullish GOLD SILVER OIL bearish DOW an even through those things happen round the time I was invested the time delay costs an anything that went against you would wipe you out in days --I only did well if in the very short term you got it right --I do think if you had major money say 50k+ rather than my 10k warrants your'd have been able to buy longer date warrants ...even though if you talk with the CWA guys (when you join you get a broker)they'll mtell you how easy it is to make money etc etc like CFD's you could get 3-4 trades right an double your money then in one trade be wiped out unless you watched the markets many hrs daily
I'd stick with the shares or if you like alittle more risk share options