FREE Futures Simulated Trading Account
When you sign up for BEST Test simulated trading, you will receive a $50,000 test account that gives you a simple, risk-free way to try out the BEST Direct platform. It takes you only a couple of minutes to sign up for a BEST Test account and to download the software.
New York Mercantile Exchange
www.nymex.com
Who we are
The New York Mercantile Exchange, Inc., is the world's largest physical commodity future trading exchange and the preeminent trading forum for energy and precious metals.
The exchange has stood for market integrity and price transparency throughout its 132-year history. Transactions executed on the exchange avoid the risk of counterparty default because the exchange clearinghouse acts as the counterparty to every trade. Futures trading is conducted through two divisions, the NYMEX Division, home to the energy, platinum, and palladium markets; and the COMEX Division, on which all other metals trade.
The exchange pioneered the development of energy futures and options contracts 26 years ago as means of bringing price transparency and risk management to this vital market.
The exchange plays a vibrant role in the commercial, civic, and cultural life of New York. It provides thousands of jobs in the financial services and allied industries and, through the New York Mercantile Exchange Charitable Foundation, supports cultural and social service programs in the downtown community as well as broader charitable endeavors in the metropolitan area.
We invite you to explore our site and learn more about the exchange, our markets, and other information of public interest.
Products
The wide array of future trading and commodity future trading markets provided by the exchange include futures and options contracts for crude oil, gasoline, heating oil, natural gas, electricity, gold, silver, copper, aluminum, and platinum; futures contracts for coal, propane, and palladium; and options contracts on the price differentials between crude oil and gasoline, crude oil and heating oil, Brent and West Texas Intermediate crude oil, and various futures contract months (calendar spreads) for light, sweet crude; Brent crude; gasoline; heating oil; and natural gas.
The Exchange also lists NYMEX miNY™ energy futures, fractional light, sweet crude oil and natural gas futures contracts that offer smaller investors and traders the opportunity for an efficient means of participating in energy markets. The contracts trade via the NYMEX ClearPort® electronic trading system and clear through the New York Mercantile Exchange clearinghouse. NYMEX miNY™ Futures
The exchange also clears off-exchange trades for market participants who wish to avoid counterparty credit risk by using standardized contracts for natural gas, crude oil, refined products, and electricity.
How to get started
Investors looking for a fast-paced dynamic market with excellent liquidity that can act as a counterweight to the stocks and bonds in their portfolio will want to learn more about the New York Mercantile Exchange energy and metals futures and options markets.
The challenge in meeting this price volatility takes place in the vigorous give and take among the traders on the New York Mercantile Exchange where the best up-to-the minute price emerges from their consensus. The price quotations are then used as benchmarks by buyers and sellers in the energy and metals markets worldwide.
Futures prices are not price predictions, but are the collective current opinion of the marketplace of where prices appear to be heading. That opinion, and the direction of prices, can change in an instant, which makes futures trading in these markets so challenging and potentially rewarding.
The exchange is a public market forum and anyone can play a role in these vital global markets. Participation is not difficult, but a few requirements must be met. The first step is to open an account through a licensed, Series 3, commodity futures broker.
Finding the right future trading broker
The broker will be your point of entry to the markets, so make your selection with the same care and due diligence as you would any other financial services professional upon whom you rely.
The future trading broker you choose should serve a clientele geared towards your level of trading. Some future trading brokers mainly deal with commercial and institutional customers, some with individuals of high net worth, while others primarily serve smaller investors.
Brokers offer different levels of service
- A full service brokerage firm will be able to offer advice on investments and strategy, provide research, and contact you regularly with trading advice. A full-service brokerage could be especially useful if you are following many markets. The fees at a full service firm are usually higher than other types of firms.
- Discount brokers offer limited services and charge lower fees. Investors who do their own research and are confident in their trading abilities often find that discount brokers meet their needs.
Introducing brokers are full service firms that execute the buy and sell orders through the large well-known financial houses that are clearing members of the exchange. Introducing brokers are usually found in smaller cities and, while they may not have the name recognition of a big Wall Street firm, their service is often top-notch.