Gold & Silver
CFDs
Why Trade Gold and Silver through FXCM?
- Lower Transaction Costs: Trade Commission Free. FXCM is compensated through a markup which is added to the bid/ask spread it receives from its liquidity providers, except where otherwise noted. FXCM spreads are not set by an individual broker's dealing desk. Instead, they come from multiple global banks, who compete to offer FXCM with the best price (i.e., the tightest bid/ask spread). To view full list of spreads, please click here.
- Greater Ease of Trading: Gold and silver are traded alongside currencies on FXCM Trading Station II, providing you with convenient, intuitive, one-click trading.
- Generous Leverage: You can trade with 200:1 leverage, or 0.5% margin. Trading In the futures market requires large contracts—$4000 margin to maintain a 100-ounce position is common. In the futures market leverage is usually limited to 25 to 1. Without proper risk management, currency trading has a high degree of leverage that can lead to large losses as well as gains.
- Hedging Capability: You can go long or short spot gold in the same account and hedge your positions.
- Advanced Charting: Trade gold from FXCM's advanced charting package.
- No Re-Quotes: Re-quotes occur when a trader makes an order at a specific price, but the order is rejected by a trading desk, and the trader is given a new price to accept or reject. Re-quotes can slow down your trading. FXCM cannot re-quote forex orders because those orders operate on straight through processing. FXCM also maintains a no re-quote policy for indices, metals, and oil, although those orders do not operate on straight through processing. Orders are executed at the best price available within the trader's parameters, subject to market liquidity at the time.
Product Details
| Instrument Name | Minimum Trade Size |
Margin Requirement Per Min Trade Size |
Target FXCM Spread | Minimum Stop Distance (Points) | |||
|---|---|---|---|---|---|---|---|
| USD | GBP | EUR | AUD | ||||
| XAU/USD | 1 | 4 | 3 | 3 | 9 | 0.5 | 0.1 |
| XAG/USD | 50 | 7.5 | 5 | 5 | 5 | 0.04 | 0.1 |
For trading times and more details, please refer to the Product Guide.
Please note that FXCM strives to provide traders with tight, competitive spreads; however, there may be instances when market conditions cause spreads to widen beyond the spreads displayed here. Additionally, spreads may not be applicable to Japanese-yen-denominated accounts or client accounts of referring brokers. Certain currency pairs may not be available for all account types. For additional information about widened spreads, click here.
Gold (XAU/USD) and Silver (XAG/USD) Trading Hours
Gold and silver trading will commence on Sunday at 23.00 GMT. Furthermore, there will be a daily break in gold and silver trading at 22.00 GMT and trading in gold and silver will resume at 23.00 GMT. During the break, you will not be able to place market orders, and limit/stops cannot be placed and/or amended . Full details of gold and silver trading can be found on page twenty-one of the CFD PDS.
Trading Metals on Margin
- Leverage to trade is set at 200-1, or 0.5% margin. Therefore, with each $1 in your account you control $200. Without proper risk management high degree of leverage that can lead to large losses as well as gains.
- Margin is the funds in your account necessary to back an individual trade. With 0.5% margin, you must keep in your account a cash balance of .5% of the total value of your position(s) in order to maintain the position.
Gold/Silver Rollover Explained
Spot Gold/Silver Rollover will be performed in the same manner as our forex instruments.