What Are British Pound Futures?
British Pound Futures (6B) are futures contracts based on the value of the British Pound (GBP) relative to the U.S. Dollar (USD). These contracts are widely used by traders and investors to hedge or speculate on fluctuations in the value of the British Pound against the U.S. Dollar. Market influences include economic data, interest rate policies, and geopolitical events in both the UK and the U.S.
Contract Size
- Contract Size: 62,500 British Pounds.
Trading Hours
The British Pound Futures contract trades nearly 24 hours a day, five days a week, providing access to the global currency markets.
- Sunday to Friday: 5:00 PM to 4:00 PM CT (with a 1-hour daily trading halt from 4:00 PM to 5:00 PM CT).
- Time Zone: Central Time (CT).
Tick Value and Increment
- Tick Size: $0.0001 (1 tick = 1 basis point).
- Tick Value: $6.25 per tick.
- Minimum Price Fluctuation: $0.0001 per GBP/USD.
This makes British Pound Futures an excellent choice for traders seeking liquidity, leverage, and exposure to the foreign exchange market.
Trading Symbol
- Platform Symbol: 6B
Margins
To trade British Pound Futures, you’ll need to meet specific margin requirements. Check out Ironbeam’s Margins Page for the latest margin rates and details.
Why Trade British Pound Futures?
- Liquidity: High liquidity ensures tight spreads and efficient execution.
- Hedging Opportunities: British Pound Futures are used by businesses and investors to hedge against foreign exchange risk.
- Global Influence: The British Pound is influenced by economic data, interest rates, and geopolitical events, providing opportunities for traders.
- Diversification: Add exposure to the foreign exchange market to complement equity or commodity investments.
- Price Discovery: Futures markets offer a key mechanism for determining the fair price of the British Pound.
Start Trading 6B with Ironbeam
Ironbeam provides a robust trading platform and API to help you access British Pound Futures with ease. Trade confidently with free real-time Level 2 market data and personal broker support.
DISCLAIMER: There is a substantial risk of loss in trading commodity futures and options products. Losses in excess of your initial investment may occur. Past performance is not necessarily indicative of future results. Please contact your account representative with concerns or questions.