Metals
The LMFX gold and silver contracts give you access to the precious metals markets 24 hours a day, 5 days a week.
Make the trade
With prices in both these products being quoted in the EUR and USD base currencies, you are able to remove any currency impact on your trading account allowing you to profit from the movement in the market.
| Metals*** | Typical Spread (pips) | Swap Short (points) | Swap Long (points) | Limit/Stop Levels (pips) | Used Margin in this example* | 1 pip value per 1 lot | Size of 1 lot |
|---|---|---|---|---|---|---|---|
| XAGEUR | 1 | -0.1 | -4.1 | 10 | 1% Notional Value** | EURO 10 | 1000 Ounces |
| XAGUSD | 1 | 0 | -10.8 | 10 | 1% Notional Value** | USD 10 | 1000 Ounces |
| XAUEUR | 10 | -10 | -36.16 | 30 | 1% Notional Value** | EURO 1 | 100 Ounces |
| XAUUSD | 6.5 | -10 | -39.27 | 30 | 1% Notional Value** | USD 1 | 100 Ounces |
* Margin Based on a position size of 1 lot
** Notional Value equals the number of Ounces multiplied by price
*** Leverage on Metal products is always fixed at 1:100
Note: For XAUEUR, XAUUSD maximum trade size is 1 lot per index per live account
Contract sizes for Gold and Silver
Gold - 1 lot = 100 ounces
0.1 lot = 10 ounces
0.01 lot = 1 ounce
MARGIN WILL NOW BE CALCULATED AS THE FOLLOWING:
Notional Value*/100
Notional Value = Number of ounces * Current Market Price
For example if an account open 1 lot (or 100 ounces) of gold the required margin will be the following:
100 * 1585 /100 = $1585
The pip value for a 1 lot position is $1 per pip
Trading Hours
| Trading Product | Trading Hours (GMT+3) | Break Time (GMT+3) |
|---|---|---|
| XAGEUR | Monday 01:00 - Friday 23:45 | Daily 00:00 - 01:00 |
| XAGUSD | Monday 01:00 - Friday 23:45 | Daily 00:00 - 01:00 |
| XAUEUR | Monday 01:00 - Friday 23:45 | Daily 00:00 - 01:00 |
| XAUUSD | Monday 01:00 - Friday 23:45 | Daily 00:00 - 01:00 |
Attention: During the time period from 23:55 to 00:15 server time increased spreads and decreased liquidity can take place due to daily bank rollover. In case of inadequate liquidity/spreads during bank rollover, widened spreads and excessive slippage may occur. Therefore orders will not be executed during these times.
The Trading Desk will ensure that the flow of pricing reflects current market prices for the open during which time any orders or trades held over the weekend will be subject to execution. During this time the pricing being streamed is non-executable for new market orders.
Note: Following the move from one trading session to another, from time to time there is a degradation in market liquidity. This is normal behavior in the market but may result in some orders being filled at a price different to that requested and that the spreads may also widen during this time. After the open, traders may place new trades, and cancel or modify existing orders.
Metals Overnight SWAP Rates
All Metals contracts are subject to an overnight SWAP with triple SWAPS being applied on the positions held over a Wednesday.
Please note that Gold and Silver SWAPs are factored as points/lot.
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Risk Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. Trade responsibly: 71.11% of retail investor accounts lose money when trading CFDs with this provider. As a result, CFDs may not be suitable for all investors because you may lose all your invested capital. You should not risk more than you are prepared to lose. Before deciding to trade, you need to ensure that you understand the risks involved taking into account your investment objectives and level of experience. All information on this website is not directed toward soliciting citizens or residents of the United States, United Kingdom, Japan or any other jurisdiction that would be contrary to local law or regulation. Past performance of CFDs is not a reliable indicator of future results. Most CFDs have no set maturity date. Hence, a CFD position matures on the date you choose to close an existing open position. Seek independent advice, if necessary. Please read LMFX’s full ‘Risk Disclosure Statement’.
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