Silver and Spot Gold
Spot silver (XAG) and Spot gold (XAU) are tradable commodities offered by FXCoin at the best-of-market spreads and
Spot execution without having additional foreign exchange exposure.
Spot trading is done similarly to forex currency trading where investors take short or long positions of the metals’ prices.
There is no centralised marketplace for spot gold or silver trading and thus trading is accessible 23 hours a day, 5 days a week.
FXCoin offers CFDs on spot metals in both USD and EUR.
There are many reasons why investors choose to trade spot metals:
Diversify your portfolio: Investors take advantage of spot trading as an emerging asset class in a bigger and well-balanced trading portfolio.
Hedging opportunities: Trading spot metals creates great opportunities for hedging in every liquid market, with investors gaining more exposure with limited risk.
Safe Haven: Spot metal trading is considered to be a safe haven.
FXCoin offers CFDs on spot metals in both USD and EUR through our award winning trading platforms. Only 1% margin required for spot metals.
CFD on Spot Metals Contract Specifications
- Spreads
|
Symbol |
Minimum Spread |
Typical Average Spread |
|---|---|---|
|
XAGEUR |
0.04 |
0.05 |
|
XAGUSD |
0.04 |
0.05 |
|
XAUEUR |
0.5 |
0.6 |
|
XAUUSD |
0.5 |
0.5 |
|
XPTUSD |
4 |
4 |
|
XPDUSD |
3 |
3 |
[1] The above spreads are applicable under normal trading conditions during day trading sessions.
However, there may be instances when market conditions cause spreads to widen beyond the typical average spreads displayed above.
- Swaps
| Symbol | LONG2 | SHORT2 |
|---|---|---|
| XAUUSD Spot Gold - USD |
-5.575 | -1.76 |
| XAUEUR Spot Gold - EUR |
-1.47 | -1.20 |
| XAGUSD Spot Silver - USD |
-1.74 | -1.15 |
| XAGEUR Spot Silver - EUR |
-1.18 | -0.96 |
| XPTUSD Spot Platinum - USD |
-2.22 | -1.81 |
| XPDUSD Spot Palladium - USD |
-2.27 | -1.85 |
The swap rate is mainly dependent on the level of interest rates as well as the Company’s fee for having an open position overnight.
The swap is automatically converted into the base currency of the clients trading account. The operation is conducted at 23.59 (server time) and can take several minutes.
- Contract Details
| Symbol | Minimum Lot Size | Minimum Price Fluctuation (Tick) | Size of 1 Lot | Used Margin Per 1 Lot |
|---|---|---|---|---|
| XAGEUR Spot Silver - EUR |
0.01 | 0.01 | 5000 oz | 1% X 5000 X Silver Mkt Price (in EUR) |
| XAGUSD Spot Silver - USD |
0.01 | 0.01 | 5000 oz | 1% X 5000 X Silver Mkt Price (in USD) |
| XAUEUR Spot Gold - EUR |
0.01 | 0.01 | 100 oz | 1% X 100 X Gold Mkt Price (in EUR) |
| XAUUSD Spot Gold - USD |
0.01 | 0.01 | 100 oz | 1% X 100 X Gold Mkt Price (in USD) |
| XPTUSD Spot Platinum - USD |
0.01 | 0.01 | 50 Troy Oz | 2% X 50 X PT Mkt Price |
| XPDUSD Spot Palladium - USD |
0.01 | 0.01 | 100 Troy Oz | 2% X 100 X PD Mkt Price |
Note:
- Zero margin requirements for opening a hedged position provided free margin is positive (Margin Level > 100%);
- No commission applies;
- Trading takes place between 01:00 to 24:00 server time Monday to Friday.
- Server time is GMT + 2 (GMT + 3 applies during daylight saving/summer time).
