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: What are the trading hours?
A: Trading hours are 24 hours daily starting Sunday at 18:00 ET to Friday at 16:30 ET, except for 17:15 ET to 18:00 ET from Monday through Friday when trading is closed.
Q: How does the end of day process work?
A: It 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 you are short you will earn LIBOR -3%.
Q: How is P/L calculated?
A: Gold is quoted in 1 cent increments. If you buy 1 oz. of gold at $915.23 and later close 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 P/L in real time.
Q: Can I take delivery on Gold and Silver?
A: No. This is a spot 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 in 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.