Best Way to Buy Oil

D

datamerc

I've never traded stocks or futures before (only spot forex) and would like to open a position to go long oil. I have no intentions to actively trade the position, simply buy and hold for a year or so. What is the best way to do this - an ETF or some other product? I would also need to open up a brokerage account (looking at TOS).

Thanks in advance.
 
Quote from datamerc:

I've never traded stocks or futures before (only spot forex) and would like to open a position to go long oil. I have no intentions to actively trade the position, simply buy and hold for a year or so. What is the best way to do this - an ETF or some other product? I would also need to open up a brokerage account (looking at TOS).

Thanks in advance.
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With oil as volatile as it is, I'd just look to find a nice call option that you can buy... that way your risk is fixed and you don't have to worry about any margin calls or getting sold out of your position.
 
This is a very green question, but couldn't a person simply buy and hold an ETF to let it ride? Are there daily fees that accrue or excessive margin requirements?

Again, forgive my ignorance as I've never dealt with stocks.

EDIT: This is a position I plan to hold for > 1 year.
 
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