Prices for both gold and silver are currently quoted in USD and EUR. They are designated with these abbreviations:
Gold (XAU/USD) and (XAU/EUR)
Silver (XAG/USD) and (XAG/EUR)
With a required margin starting from 2%, trades can be leveraged up to 1:50, allowing maximum trading flexibility.
The typical spread on spot gold (XAU/USD) is at $0.50 per ounce and $0.04 per ounce on spot silver (XAG/USD), which are some of the most competitive in the market. The typical spread on spot Gold/EUR (XAU/USD) is at €0.80 per ounce and €0.06 per ounce on spot Silver/EUR (XAG/EUR). A trader is free to buy (go "long”) and sell (go "short”) on any of the two metals.
The above spreads are applicable under normal trading conditions. FXDANA has the right to amend the above spreads according to market conditions.
Traders can execute a number of orders with FXDANA, including:
• Instant execution
• Buy limit
• Sell limit
• Buy stop-Sell stop
• Take profit
• Stop loss
• Good til cancelled
If a trade is kept open overnight, then there is a swap/rollover cost calculated on that position. The cost is calculated as the overnight interest rate differential.
In the trading terminal the ’swap’ is automatically converted into the balance currency. The swap operation is conducted at 23:59 server time. From Friday to Monday swap is charged once. From Wednesday to Thursday swap is charged at triple rate.
The minimum trade size is 10 ounces of gold and 500 ounces of silver.