In line with growing market demand, we at ForexYard offer Gold spot trading to our clients, through the ForexYard Standard Trading Platform.
How does it work?
Two words: simply and easily. Spot gold trades are executed in much the same way as foreign currency pairs are traded over the ForexYard Trading Platform, with transactions being made against the US Dollar, and as with currencies, we offer our clients highly competitive spreads and margins.
Due to the nature of trading such financial instruments, you will notice a number of small differences such as market hours, denomination, and minimum contract sizes: prices quoted are per troy ounce.
Gold (Au) has a fixed spread of $1.00; a margin requirement of $1,000 per 100 ounces; a required margin of 2.5%; a minimum contract size of 100 ounces; and leverage of 1:40, instead of the 1:200 leverage found on currencies.
What does this mean? It means that when you open your Standard Account, you can choose to trade Gold, and it will only charge you $1,000 of usable margin to open a position of 100 ounces, which is the minimum tradable lot size, and the spread charged is only 100 pips, which is a highly competitive figure for Gold trading.
In addition, traders should note that margin requirements may change without notice due to market and/or price changes within the individual instrument. Traders should also note that leverage and margin are approximations and not exact figures, as margin requirements are standardized. This means that from transaction to transaction, margin requirements will not change while leverage/margin may become more or less favorable.
Still, trading Gold does not require any additional software download, as it is available on the ForexYard Trading Platform; however, due to the minimum lot sizes involved, you must hold a Standard Account to be able to trade this commodity.
If you have any further questions please do not hesitate to contact our dealing desk, which is available 24 hours during market trading days.