FAQs: Spot Metal Trading
Q: What is the trade size for Gold and Silver?
A:
Gold is tradable in 1 oz. increments with a minimum trade size of 1 oz. Silver is tradable in 100 oz. increments with a minimum trade size of 100 oz.
Q: If I have 400:1 leverage on my account, will I have to lower it to 200:1 to trade Gold and Silver?
A:
No. If leverage is set on your Forex account at greater than 200:1, Gold will calculate margin using 200:1, and Silver will calculate margin using 100:1. Forex transactions will still be calculated at the leverage you have selected. If leverage on the Forex account is 100:1 or less, the entire account including precious metals trading will be leveraged at the selected leverage.
Q: What are the trading hours?
A:
Spot metal trading hours are 24 hours a day starting Sunday at 18:00 ET to Friday at 16:30 ET, except for the 45-minute period from 17:15 ET to 18:00 ET, Monday through Friday, when trading is closed.
Q: How does the end of day process work?
A:
The end of day process for gold and silver trading works like the Spot Forex market - you either receive or pay financing charges (premiums). If you are long, you will pay a financing charge of LIBOR + 3%; if short you will earn LIBOR - 3%.
Q: How is P/L calculated?
A:
Gold is quoted in 1-cent increments. If you bought 1 oz. of gold at $915.23 and later closed your position at $916.23, you would have a profit of $1.00. You may refer to the calculator in the platform to calculate your gold trading and silver trading P/L in real time.
Q: Can I take delivery on Gold and Silver?
A:
No. This is a spot market product that is continuously rolled over unless you close the position.
Q: Do I have to open a new account?
A:
No, you can trade Gold and Silver with your existing FX Solutions account.
Q: Do I have to add margin to trade Gold and Silver?
A:
No, you do not need to add margin to trade gold and silver with FX Solutions.