First of all, I would like to say a big thank you for Freetrade team for developing and supporting such an amazing platform. I’ve been with Freetrade for nearly a year and so far it was a blast.
Oil is currently at one of the lowest points ever, giving us - traders an opportunity to earn extra buck. However, it is not available on Freetrade and that breaks my heart as it pushes me to look for different ways of how I can chip-in to a golden rollercoaster which eventually will go up.
Is there any chance basic commodity like oil is going to be added to our beautiful Freetrade platform anytime soon?
Oil is traded using futures contracts, options, CFDs, and spread bets, ETNs. All of these are inherently leveraged products. Volatile, and risky. It is out of scope for freetrade & retail investors. Given your question, you are most likely out of scope to invest using leveraged instruments.
One can get some proxy exposure to oil via tanker companies, oil producers, petrochemical / refinery / service companies via shares & ETFs that are available on freetrade.
It sounds like what you are after would be something like the US Oil Fund. Buying one unit of this gives you exposure to roughly one barrel of oil. You can’t buy this on Freetrade but Stake (which is now available in the UK) does allow you to do this.
The iShares Global Energy ETF is a good way to gain exposure to the price of oil but it is not available on Freetrade.
Some oil companies are highly leveraged and so can provide a 10% price gain for a 1% gain in the price of oil (I am being very simplistic but you get the idea). You can do some research around these and maybe buy shares in some.