3rd generation

Gold Trade Gold

Gold Trade Gold

Posted by jai_offset in Forex Trading 14 Jul 2023

All the gold markets on MT4 begin with ‘XAU’ in the Market Watch list. XAU itself would, in theory, represent physical gold itself in this case – which MT4 doesn’t offer. So, to find the gold symbol on MT4, you’ll simply go to your Market Watch tab, select ‘show all’ and find the markets beginning with ‘XAU’. Once you’ve created a Pepperstone account, you’ll go to our MetaTrader 4 platform page and download MT4 – either onto your computer, or via the app store for mobile trading on your phone. Our spreads for gold are competitive and start from just 25 cents per troy ounce.

Our range of platforms include OANDA Trade web, mobile and tablet, as well as TradingView and MetaTrader 4. 76.6% of retail investor accounts lose money when trading CFDs with this provider. Read about our terms and conditions when you open an account and trade with OANDA. Roller/holding charges are based on market conditions and the rates we receive from our liquidity partners.

But what if you don’t live in one of the main financial centers of the world like New York City or Frankfurt? Well, you can either select a much worse broker, come to terms with high latency and slippage, or you could go with a Cloudzy Forex VPS. With servers at 14+ global locations in North America, Europe, and South East Asia, Cloudzy Forex VPS is the reasonable way of picking the best broker and getting minimum latency at the same time.

The low barrier to entry means that even trading novices can get to grips with it quickly and easily. However, you need to be willing to take the risks involved with spot trades due to crypto’s high volatility. Most Forex brokers let you trade gold against major questrade forex currencies like the United States dollar or the Euro. Simply look for the XAUUSD or the XAUEUR symbols on your broker’s MetaTrader platform. Gold is not immune from geopolitical factors, but it is much less threatened by changes in the political order.

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Basically, the XAU/USD is a typical example of a supply-and-demand asset in its fluctuations. So, if you’re a trader focusing on that kind of analysis, following XAU/USD signals will be easy. Before diving into instructions on trading gold on Forex, however, I suggest you take the time to set the record straight about some of the most common misconceptions about gold roboforex review in Forex trading. First, we’ll take a look at just how profitable trading gold really is — does it even make sense to add it to your portfolio? Then we’ll go over some of the basic definitions of gold trading. Of course, they may be basics, but often, it’s the same basics that spell the difference between a successful trader and one that gives up early in the game.

  • Roller/holding charges are based on market conditions and the rates we receive from our liquidity partners.
  • As you can guess, gold Forex trading is one of the terms that traders use to talk about trading gold on Forex markets.
  • Gold markets have rallied rather significantly during the early hours on Friday, as we have seen a run toward safety.
  • The desktop platform, though similar to the web-based platform, is not as user-friendly.
  • The speed found with Oanda software is far more impressive than that of the MT4, which means that the former can be more advantageous to you, as a trader, as the market prices often change very quickly.

For example, if your account is in SGD, you will be charged 10 SGD, and if your account is in USD, you will be charged 10 USD, etc. Get personalized access to premium trading tools, expert market analyst insights and more. At certain times and in certain market conditions, our spreads could be wider than usual. This includes the opening and closing of markets and major international or geopolitical events which have an impact on the relevant market(s) in other particular circumstances. Earn cash rebates from US$5 to US$17 per million with our Elite Trader program. Designed exclusively for our high volume traders, this is the program that gives you more, the more you trade.

Popular metal CFDs

It’s simpler than you think and, in this guide, I’ll tell you all the insider knowledge you need to trade gold like a pro. You can safeguard profit by placing a take profit order, which tells the platform to automatically close out your position when a certain market levels have been reached. Similarly, you’d set up a stop loss order so that any trades you have open are automatically closed if the market turns against you and you reach a level of loss beyond which you’re what is software development not comfortable. Once the price has reached your defined stop level, that trade will automatically close, limiting your losses (keep in mind that  if the market  moves too fast , you  may experience more loss than anticipated). If you don’t yet know which gold market to trade or study, the standard gold one is a good place to start. This is the closest you’ll get to trading gold itself – and it’s the XAUUSD, which is the price of gold as compared with the US dollar.

Opening an OANDA MT4 Account and the Costs Involved

If you are interested in trading crypto and want to find out more, you can learn about our cryptocurrency trading services here. The first time I heard gold was still a valid currency, I was a bit shocked. Paying for stuff in gold seems more like something a pirate would do, right? Well, it turns out that the time for gold is far from over; in fact, it’s thriving as a currency in the Foreign Exchange (Forex) markets. Trading gold on Forex is pretty widespread and especially popular in times of crisis where other assets are too volatile or uncertain. So, gold seems to be back in fashion, but how to trade gold in Forex?

Get started with the OANDA app

Knowing how to trade gold in Forex starts with learning how to add the necessary symbol to your trader’s MetaTrader 4 platform and how to start with Metatrader4. Usually, this is a very straightforward process, but sometimes, users are unable to find the right symbol, so I’ve decided to provide this short guide on adding XAU/USD on MT4. First off, make sure that your broker supports trading gold on Forex. If your broker is on our list of the top brokers that let you trade gold, you have nothing to worry about. In fact, most major brokers support this kind of trade, so it shouldn’t be a problem. All transactions across each of our award-winning platforms are executed and settled in real time.


When making an MT4 broker comparison, a key question is going to be about the accessibility and features of the trading platform. The OANDA trading platform can be accessed using the web, a mobile device or a desktop. With a two-step log-in, accessing the web platform is a secure process. The number of awards and the fact that so many have been won in recent years suggest that this is not a company that rests on its laurels but continues to strive for the best possible experience for its clients. The breadth of the awards also suggests that this is a trading platform that scores highly all round.

So, feel free to skip these introductory sections and jump ahead to instructions on how to trade gold in Forex, but only if you’re really in a hurry. Take a position on our metals markets using the MT4 and MT5 platforms and mobile and tablet apps. A feature of MT4 is the use of Automated Expert Advisors (EAs), programs that follow a certain set of instructions allowing trades to be opened or closed without the trader needing to be present. This reduces the instance of trades being missed while the trader is away from their computer.

The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. It does not take into account readers’ financial situation or investment objectives. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted. Trading gold on MT4 could be good for beginners – it all depends on how much work you’re willing to put in.

Unfortunately, spot trading of crypto is not available on desktop, web, MT4 or third-party platforms. You will need to download or upgrade to the latest version of OANDA’s fxTrade app on your Android or iOS device. The fxTrade app is only compatible with Android 5.0 or iOS 14 or higher operating systems.