The gold trade has become quite popular in the last few years. Gold has always been a prized commodity and nowadays it is seen as a safer place to keep your money when the market becomes more volatile.
This is why we have created a list of US Forex brokers trading gold and from other countries around the world.
Many investors decide to trade gold through forex brokers and exchange gold CFDs (contracts for difference, which means speculation on price movement rather than buying physical gold. That is why there are so many online gold on gold trading sites exists today, but not everyone is trustworthy.We have a list of the best online gold trading sites in the United States, Canada, UK, Australia and more.
2020 List of forex gold trading brokers:
AVATrade
BlackBull Markets
easyMarkets
FBS
Forex.com
fpmarkets
FXChoice
FXDD
FxPro
FXTM
Hot Forex
HYCM
IC Market
Pepperstone
Thinkmarkets
Tickmill
XM
US Forex Brokers Who Trade Gold
FOREX.COM
BrokerMarket Maker type
RegulationsNFA, CFTC, RFED, FCM
Min Deposit $ 50.00
Based on Currency AccountUSD CAD GBP
Max Leverage50: 1
TradingFOREXTrader platform, Metatrader 4
Analysis
Website
Gold Trading
Canadian Forex Brokers Your Great Gold
fxchoice
BrokerECN type
IFSC regulations
Min Deposit $ 100.00
Account Base CurrenyUSD, EUR, GBP, AUD, CAD, Bitcoin, Gold, Bitcoin Cash, Litecoin, Ethereum and XRP
Max Leverage200: 1
TradingMetatrader Platform 4/5
Analysis
Website
Gold Trading
UK Forex Brokers Trading Gold
Reviews of hycm
BrokerMarket Maker type
RegulationsFCA, CySec, CIMA, DIFC
Min Deposit $ 100.00
Based on Currency of AccountUSD, EUR, GBP, RUB, AED
Max Leverage1: 500, EU Clients 1:30
TradingMetatrader Platform 4/5
Analysis
Website
Gold Trading
Forex Brokers Forex Trading Gold
IC market
BrokerECN type
ASIC regulations
Min Deposit $ 200.00
Based on Account CurrencyD, AUD, EUR, GBP, CAD, JPY, NZD, CHF, SGD, HKD
Max Leverage500: 1
TradingMetatrader 4/5 Platform, cTrader, Webtrader, Trading API, MAM / PAMM
Analysis
Website
Gold Trading
How to trade gold with a Forex broker
Most reputable forex brokers today allow Gold CFD trading. Trading gold with these brokers is like trading currencies. When using the Metatrader platform trading gold or a currency pair is almost identical.
Trading gold versus currencies, is similar:
The same trade of trading instruments is lots, 1lot 0.10 lots etc.
both have fixed stop loss, limit order and get revenue targets.
both trading indicators are available when exchanging gold
all metatrade features are available when exchanging gold CFD's
Exchanging gold versus currencies, what is unique:
Gold leverage is likely to be lower than major currency pairs
Gold CFD trading hours vary slightly in currency pairs
Gold CFD spreads will be wider than major currency pairs
High-performance gold CFD trading is risky. Let me explain why.
The price of gold and be very volatile. This means that if you further extend yourself your account balance could quickly fall to zero if the markets are against your commodity. Take a look at this example.
Account balance - S10,000 USD
XAUUSD 1 Lot is worth about $ 1900 at an entry price of 1929.57.
If gold had dropped to just 1900 I would have lost approximately $ 2800 USD, now my $ 10,000 looking balance is $ 7200.
You can see how this can be a big risk if gold decides to be volatile and commodities +/- 100s of dollars a day.
If gold drops to 1828usd my losses will exceed $ 10,000usd draining my account to zero.
How to safely exchange gold
Account balance - S10,000 USD
XAUUSD 0.10 Lot costs about $ 190 at an entry price of 1929.57.
If gold had dropped to just 1900 I would have lost approximately $ 280 USD, now my $ 10,000 looking balance is $ 9720.
You can see how it would be a huge risk if gold decided to be volatile and commodity +/- 100s of dollars a day, but in the LARGEST trade size of 0.10 lots instead of 1 full lot, you reduced at great risk.
If gold had fallen in 1828usd my losses would have been nearly $ 1000 instead of depleting my account.
How to Trade Gold on MT4
One of the easiest ways to start trading CFD's gold is on the MT4 platform (metflix 4). We will share it for you in turn (and with pictures) so you can exchange gold at a forex trading broker and on the metflix platform.
How to Get XAUUSD on MT4 |
Step 1 - Be sure to add the XAUUSD symbol to the gold symbol. do this by right-clicking on the watch box on the market and clicking on "symbols".
mt4 gold - how to
Step 2 - The Gold Symbol on MT4 is XAUUSD, Add the XAUUSD symbol.
adding gold symbol mt4
Step 3 - Double-click XAUUSD in the "market watches" box. This will open the order box where you can buy or sell gold.
Step 4 - Enter the quantity you want to sell or buy, then click "sell by market" or "buy by market".
but gold on mt4 pic
This is an MT4 gold Chart. As you can see in the picture, it is the same as any other currency pair and or tradable instrument on metflix 4.
MT4 Gold Chart
Trading Gold CFD's
Trading CFD's gold has several benefits over other investments. Benefits include:
There is no expiration, so you can hang on to it as long as the trader wants
Gold is relatively stable when it comes to price appreciation, in the long run.
leverage gold CFD trading can be a double edged sword, where there can be enormous gains but there are also losses.
Gold is old and has been seen as valuable since dawn, making it attractive to investors as a safe asset.
Note
Trading in metals such as gold and silver is not for every trader. It is good to stay in a trading instrument that you are comfortable with and have traded before.
Trading gold can be profitable or even a safe haven when markets are volatile, but like anything, big gains are at great risk and LOSSES.
Our list of Forex brokers that accept gold trading is reputable, does not mean to start trading metals just for what or because everyone does it.
No, find out the property, practice in property trading and then perhaps if you feel comfortable going ahead and investing.