You can also trade precious metals on XMTrading. We will explain how to trade in CFD stocks such as gold and silver. It has features such as calculation and leverage.
Stocks that can be traded for precious metals
XMTrading allows you to trade the following stocks with specifications. There are temporary differences in minimum lot, maximum lot, and even leverage depending on the stock. Trading hours are also different, so be sure to check the details carefully before trading. In principle, when trading securities, trade with a small amount of capital that is appropriate for the important margin. Consider your own use with MetaTrader now. Make use of the abundant promotions as well. The possibility of earning money with major financial services increases. Gold trading has a large pip range, so you need to calculate and hold the lot. Check it out when you have time.
| Leverage | Minimum Lots | Max Lots | Trade Time(Japan Time) | |
| GOLD | 1000 | 0.01 | 50 | Monday-Thursday: 07:05 – 05:55 Friday: 07:05 – 05:50 |
| SILVER | 1000 | 0.01 | 50 | Monday-Thursday: 07:05 – 05:55 Friday: 07:05 – 05:50 |
| PALL | 22 | 1 | 45 | weekday: 06:05 – 4:55 |
| PLAT | 22 | 1 | 100 | weekday: 06:05 – 4:55 |
GOLD
Gold is one of the oldest currencies in human history. Its long history stretches back more than 100 years, making it easy to analyze the market and ideal for technical traders. Gold tends to be bought in times of social unrest and war. When society becomes stable, gold prices are likely to fall, and when social unrest occurs, they are likely to rise. Timing is important when buying and selling with funds, and liquidity is high. Be careful, as there is a possibility of losses even if you are short or long for the long term.
SILVER
Silver is a metal traded all over the world because of its large trading volume and high volatility like gold. Silver is in very high demand and is used in electronic semiconductors, dental applications, solar cells, and more. Since gold and silver basically have the same direction, the market tends to move in the same way.
PALLADIUM
Palladium is a type of platinum metal, commonly referred to as a rare metal. The fees are different from others, and 75% of the palladium calculated annually is used in the automotive industry. The first and second largest producing countries are Russia and South Africa, and the price is influenced by the production system and political situation. In recent years, due to Russia’s rampage, this stock may fluctuate greatly. This symbol can be held according to the purpose within the rate. Please note that the pips range is completely large. It can be traded from Monday to Saturday in Japan time.
PLATINUM
Platinum is a rare metal, even rarer than the expensive gold. Like palladium, most of the demand for platinum is for catalytic converters. Platinum charts can be linked to other metals, so it’s important to keep a close eye on price divergences. While 1,700 tons of gold are produced in mines each year, only 130 tons of platinum is produced. Log in from the home page, install the appropriate tool for free, and start trading. You can create a new position by clicking on the platform.
Characteristics, advantages, and disadvantages of precious metal trading
Currently, there are the following points to keep in mind when trading precious metals. Please be very careful as there are investment risks. Precious metals are like other commodity stocks, opening on Monday and closing on Friday. Leverage is 1000x for gold and silver. There are only a few financial products offered, and gold is the most popular. Please be careful when ordering as there are restrictions on trading hours depending on summer and winter time. There are separate campaigns and bonuses, and these can be used as margin as credits.
Saturdays, Sundays, and holidays
Precious metal trading can basically only be done on weekdays. In addition, if gold cannot be traded or the chart does not move even during trading hours on weekdays, the market may be closed on a holiday. This includes Christmas and New Year holidays. Check the official page of XM from time to time.
contract month
Please note that the contract size in XM’s futures precious metal CFDs has a fixed expiry date. Please keep in mind the following rules regarding palladium and silver. Determined based on the following:
| contract month | |
| PALL | 3,6,9,12 |
| PLAT | 1,4,7,10 |
By the way, after accessing the official website, check the calendar from the upper menu “Trading” → “Precious metals” for the maturity date.
swap point
Swap points occur for gold and silver. Investors can also check the swap points on the official page of the operating company as above. The impact on short-term contracts is small, and of course it can be made positive by making full use of the stock.
Spread
Spreads vary depending on the brand and account type. You can check this on the official page, but please refer to the table below. Also, XMTrading’s precious metal spreads are not that narrow compared to other companies, so it is not very suitable for scalping trades. The table below shows the minimum spread. Zero accounts have the narrowest spreads in the industry. Trading can be done on a computer or smartphone.
| Gold | Silver | |
| Standard | 0.35 | 0.035 |
| Micro | 0.35 | 0.035 |
| KIWAMI | 0.15 | 0.022 |
| Zero | 0.2 | 0.02 |
| PALL | 4.25 |
| PLAT | 10.01 |
high volatility
When it comes to gold and platinum in particular, volatility tends to be very large depending on the time period. Among the commodities and currency pairs that can be traded, gold is known for its particularly large price movements. If you trade too many lots, you may suffer unexpected large losses in an hour. Especially when major economic indicators or political events occur, you need to look at the quotes and set your stop loss early. You can usually do a conversion simulation on the official website, so try using it. Make sure you don’t end up in the negative.
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