Allowed Instruments and Leverage
Updated 10 November 2026
You can trade only what your platform shows as available. CobraTerminal offers Forex, Metals, Energy, Crypto and Index markets. A market may be turned off when it is closed or we have no reliable price for it.
Leverage by asset class
Leverage lets you open a bigger trade than your balance alone allows.
- Forex majors: up to 1:100 (exotic pairs 1:66)
- Gold and silver: 1:20
- Platinum, palladium and copper: 1:50
- Indices: 1:20
- Energy (oil and gas): 1:50
- Bitcoin and Ethereum: 1:10 (other crypto 1:5)
Venom 2.0 and King Cobra: all metals are 1:10 (gold, silver, platinum, palladium and copper), energy is 1:10 and crypto is 1:2. Forex and indices are as listed above.
Leverage only limits how big a trade can be. Your loss limits matter more. On a $5,000 account, a full-size gold trade can reach the 1% Max Risk Per Trade limit when gold moves just a few dollars. So choose your trade size from your loss limit, not from your leverage.
The platform applies the correct leverage automatically when it works out margin (the money needed to keep a trade open). Market hours differ by market. You can't place a new order when a market is closed.
Your account page shows your rules.