Trading Gold on FxPro

Finding XAU/USD in the terminal

XAU/USD is listed in the metals section of MT4, MT5 and cTrader. In the Market Watch or symbol list, type XAU and the pair appears; right-click and select Chart to open a gold chart.

The reference price for gold is around 4275.0, and one standard lot is 100 ounces. A one-pip move is 0.01 on the price, which is worth A$1.00 per lot, but the actual dollar value depends on your account base currency.

Sizing the order with our calculators

Before entering, use the position size calculator to convert your risk amount into a lot size. Enter the account balance, risk percentage and stop-loss distance in pips, and the calculator shows the maximum lot size for that risk.

The pip value calculator tells you what a one-pip move is worth in AUD for the lot size you plan to trade. At 1:200 leverage, a 0.10-lot gold position needs about $85.50 margin, so the margin calculator confirms whether the trade fits your free margin.

Setting the exit with the entry

A stop-loss and take-profit are attached to the order before it is sent. The stop-loss distance is the number of pips between entry and exit, and that number feeds the position size calculator to keep the risk fixed.

The profit calculator shows the A$ result for a given pip move, so you can set a take-profit that matches a realistic target. Do not widen the stop to avoid being stopped out; instead reduce the lot size so the same risk covers a wider stop.

Why several XAU/USD symbols appear and which one to trade

You will often see multiple gold symbols in the platform because the broker lists separate instruments for spot gold, gold futures, and sometimes mini or micro contract variants. The correct symbol for the standard spot contract described on this page is XAU/USD. Any other code such as GOLD or XAUUSD.f may refer to a different contract size, expiry date, or trading conditions, so always check the symbol specification before placing a trade.

Choosing the wrong symbol can change your margin and pip value because each variant may have a different contract size. The XAU/USD symbol on this platform represents one standard lot of 100 troy ounces, while a mini symbol might represent 10 ounces and a micro symbol 1 ounce. A price move of 0.01 is worth A$1.00 per standard lot, but only A$0.10 per mini lot, so the symbol you select directly affects your risk per pip.

The symbol list usually includes a spot metal category, and XAU/USD is the most liquid and commonly traded. If you see duplicate symbols such as XAUUSD and XAUUSD., one may be a forward or swap-free version with different overnight charges. Rather than guessing, open the symbol specification window to confirm the contract size, tick value, and trading hours before you commit capital.

What one standard lot of gold actually controls

One standard lot of XAU/USD controls 100 troy ounces of gold, and every 0.01 price move changes the position value by A$1.00. At a reference price near 4275.0, a full lot therefore has a notional value of about A$427,500. This notional value is important because it determines both your margin requirement and the profit or loss for a given price change.

The margin required for a 0.10 lot position is about A$85.50 when using the maximum available leverage of 1:200. That smaller position controls 10 ounces, so each 0.01 move is worth A$0.10. The 1:200 figure is a cap, not a setting you should automatically choose, and using less leverage increases the margin requirement proportionally, reducing the chance of a forced close on a normal gold swing.

Because gold can move several dollars in a single session, a full lot can produce large swings in account equity. A move of A$10.00 per ounce on a standard lot is A$1,000 of profit or loss. Before you enter, calculate the notional value and the margin for your chosen lot size, and make sure the worst-case move you expect will not take your account below the broker's stop-out level.

Placing the stop at the same moment as the entry

You should set the stop-loss in the order ticket before you send the entry, not after the position is open. The order window has a stop-loss field that lets you attach a price level to the very order that opens the trade. Doing this guarantees that the stop is active from the first second your position exists, protecting you from a sudden adverse move while you are still setting up the trade manually.

The stop distance you choose depends on the gold volatility you expect and the amount you are willing to lose. For a 0.10 lot, every 0.01 of stop distance is worth A$0.10 of risk, so a stop 100 pips away risks about A$10.00. There is no fixed recommended stop for gold, but many traders place it beyond a recent swing high or low, giving the market room to breathe without risking more than a small percentage of the account.

Leaving the stop field empty and adding it later is a common mistake that can be expensive if a news release hits gold. The platform will execute the stop as a market order if price trades through it, and slippage can increase the loss. By entering the stop at the same time as the order, you remove that gap and ensure your risk is defined before the trade goes live.

Reading the swap line on an overnight gold position

The swap line in the platform shows the overnight interest adjustment applied to your open gold position at the end of each trading day. For XAU/USD, the swap is the difference between the interest rates of the two currencies involved, adjusted for the broker's own charge. You will see a long swap and a short swap in the symbol specification, and the rate can be positive or negative depending on the direction of your trade and the prevailing interest rate environment.

The swap is charged or credited once per day at a set server time, usually around midnight, and a triple swap is often applied on one day of the week to account for the weekend. The amount depends on your position size, the exact swap rate in points or percentage, and how many nights you hold the trade. For example, a position held from Wednesday to Thursday may incur three days of swap because the weekend is included.

The swap can turn a small winning trade into a net loss if you hold for many days, so check the current swap rates before you enter a position you plan to keep overnight. The platform displays the swap in the deal ticket or the specification window, and the amount is deducted or added to your account balance automatically. If you want to avoid swap entirely, you would need to close the position before the daily rollover time.

How the swap is calculated and when it is applied

The swap for a gold position is calculated from the notional value of your trade, the applicable swap rate, and the number of nights held. The swap rate is quoted in points or as a percentage, and the platform converts it into an account currency amount. For a standard lot of 100 ounces, a small swap rate can still produce a noticeable daily charge because the notional value is large, so the swap should be part of your total cost calculation.

The swap is applied at the end of each trading day, and the exact time depends on the server time zone, which is usually shown in the platform settings. A position held past that time is subject to the swap for that day, and the triple swap day is typically Wednesday to cover Saturday and Sunday, when the market is closed. The swap is not applied to positions that are opened and closed within the same trading day.

The swap rate is not fixed and can change with central bank interest rates and market liquidity, so you should check it on the day you plan to hold overnight. The platform shows the current swap in the symbol properties, and the amount is automatically credited or debited to your account. If the swap is negative for the direction you are trading, it reduces your profit or increases your loss, so factor it into your risk plan before holding a gold position.

Identifying the correct XAU/USD symbol and why multiple listings appear

You may see several XAU/USD symbols in the platform because brokers often list separate symbols for spot gold, gold futures, or symbols with different suffixes for retail and institutional accounts. On FxPro's MT4, MT5, cTrader, and FxPro app, the spot gold symbol is typically XAUUSD, but you may also see XAUUSD.f, XAUUSD+, or XAUUSD.pro depending on the account type or platform version. The symbol you choose must match your account's execution model and whether you want to trade spot or futures; using the wrong one can lead to unexpected spreads, swaps, or contract sizes.

The exact symbol name for spot gold on your FxPro account depends on the platform and account type, and it is displayed in the Market Watch panel. In MT4 and MT5, right-click the Market Watch list and select 'Show All' to reveal all available symbols; the spot gold symbol is commonly labelled XAUUSD with no suffix for standard accounts, while cTrader often uses XAUUSD with a lowercase 'c' or a broker-specific prefix. If you are unsure, check the symbol's contract specification by right-clicking and selecting 'Specification' — this will show the contract size, pip value, and swap rates, allowing you to distinguish spot from futures.

Several XAU/USD symbols appear because brokers may offer different liquidity feeds, account currencies, or trading conditions under separate symbol names. For example, a symbol ending in '.f' might indicate a fixed-spread account, while a symbol ending in '.pro' could be for professional accounts with different commission structures. Trading the wrong symbol can affect your total cost: the spread and swap may be quoted differently, and the contract size could be 10 oz instead of 100 oz if you accidentally select a mini-lot symbol. Always confirm the symbol's specification before placing your first trade to ensure you are trading the standard 100 oz contract.

The contract size behind one standard lot of gold

One standard lot of gold (XAU/USD) controls 100 troy ounces, and this fixed contract size is the same across MT4, MT5, cTrader, and the FxPro app. At a reference price of 4275.0, the notional value of one lot is 427,500 USD, but you do not need to pay that amount upfront because leverage allows you to control the position with a margin deposit. The pip value for one lot is 1 USD per 0.01 price movement, so a move from 4275.0 to 4275.1 equals a 10 USD profit or loss per lot.

The contract size of 100 oz means that every 1.0 price move in XAU/USD changes the value of one lot by 100 USD, and every 0.01 pip moves it by 1 USD. This linear relationship is crucial for calculating your risk: if you set a stop loss 50 pips away, the potential loss on one lot is 50 USD. However, if you trade a smaller volume, such as 0.10 lots, the contract size is effectively 10 oz, and the pip value drops to 0.10 USD per 0.01 move, making it easier to manage risk with a smaller account balance.

The contract size does not change with leverage, but the margin required to open a position does. At the maximum leverage available in Australia of 1:200, a 0.10-lot gold position requires approximately 85.50 USD margin, based on a price of 4275.0. This margin is not a cost but a deposit held while the position is open. The true cost of the trade comes from the spread, any commission, and the swap if held overnight, all of which are calculated on the full contract size, not the margin.

Placing a stop loss at the moment of entry

You should attach a stop loss to your gold order at the same time you place the entry, not after the position is open, because it protects you from sudden adverse price moves that can occur within seconds in the volatile gold market. In MT4, MT5, cTrader, and the FxPro app, the order ticket has a 'Stop Loss' field where you can enter the price level before clicking buy or sell. You can also set a stop as a trailing stop or a guaranteed stop on some platforms, but a standard stop loss is always available and should be part of your initial order.

Setting the stop at entry forces you to define your risk before the trade is live, and it prevents the common mistake of widening the stop after the market moves against you. The stop price should be based on your analysis, such as a recent swing low or high, and the distance from entry determines your risk in dollars. For example, if you enter at 4275.0 and set a stop at 4270.0, the distance is 5.0, which is 500 pips, and on a 0.10-lot position that equals a 50 USD risk. You can calculate this before entering using the platform's pip value for your volume.

A stop loss placed at entry is a market order that becomes active only if the price reaches your specified level, and it does not guarantee the exact exit price during fast markets or gaps. Gold can gap over weekends or during major news events, so your stop may be filled at a worse price than set, a phenomenon called slippage. This is not a fee but a real trading cost that can increase your loss beyond the planned amount. To mitigate this, consider using a guaranteed stop if offered by your broker, though it may incur an additional premium.

What the swap line means on an overnight gold position

The swap line on an open gold position shows the interest rate differential applied when you hold the position past the broker's rollover time, typically 21:00 or 22:00 server time. For XAU/USD, the swap is usually quoted in points or in the account currency per lot, and it can be either positive (credited to you) or negative (debited from you) depending on whether you are long or short and the prevailing interest rates. The swap is not a fixed number; it changes daily based on central bank rates and market conditions, and you can see the current swap rate in the symbol's specification window.

A negative swap means you pay a fee for holding the position overnight, which adds to your total trading cost if you are a long-term gold trader. For example, if the swap for a long position is -5.0 points per lot per night, holding one standard lot for one night would cost you 5 USD. Over a week, that accumulates to 35 USD, which can erode profits on a slow-moving trade. The swap is applied automatically at the rollover time, and you do not need to take any action; it is reflected in your account balance as a separate transaction labelled 'swap' or 'overnight financing'.

The swap rate is calculated based on the notional value of your position, not your margin, so a larger position incurs a proportionally larger swap. If you hold a 0.10-lot position, the swap is one-tenth of the per-lot rate. Some brokers offer swap-free accounts for religious reasons, but these often charge an administration fee instead. To avoid swap costs entirely, you must close your position before the rollover time each day, but this may not be practical for swing traders. Always check the current swap rate before committing to an overnight trade, as it can change without notice.

checked 2026-09-29 · FxScouts, SafeForex, FxPro