Metals trading FAQs
- How are metals traded?
- What are the symbols for spot gold and silver?
- What are the trading hours for metals?
- Is there an expiration date on spot gold and silver contracts?
- How is margin calculated for spot gold and silver?
- Is there a limit to the amount of gold or silver I can hold in my account?
- Do metal CFD futures expire?
- Can I hold metals positions over the weekend and major holidays?
How are metals traded?
Gold and silver are traded as spot while copper, palladium and platinum are traded as CFD futures.
What are the symbols for spot gold and silver?
Currently we offer gold as XAU/USD, XAU/EUR, XAU/GBP, XAU/CHF, XAU/GBP, XAU/JPY and XAU/AUD. The symbol for spot silver is XAG/USD.
What are the trading hours for metals?
All metals (including spot and CFD markets) are available 23 hours a day from 6pm ET Sunday through 5pm ET Friday. Trading is closed from 5pm to 6pm ET daily; however, you may place new working orders or edit and cancel existing working orders during that time. Metal markets also follow CME holiday closures.
Is there an expiration date on spot gold and silver contracts?
There is no expiration date when trading spot gold and silver. As long as you maintain the required margin, your position will remain open until you choose to close it. As with forex positions, open gold and silver positions automatically roll forward to the next day's value date following the close of NY trading at 5pm ET.
How is margin calculated for spot gold and silver?
Margin for metals varies by market. To see current requirements, please view our Margin Requirements.
Is there a limit to the amount of gold or silver I can hold in my account?
The maximum position a client may hold at any given time is 10,000 troy ounces for spot gold and 250,000 troy ounces for spot silver.
Do metal CFD futures expire?
Yes, metal CFD futures have fixed monthly or quarterly expiration dates thus any position you have will close automatically when the market expires. When the market is close to expiration the next contract month will become available for you to trade.
You can view a market’s expiration date in the Market 360 section inside the Web Trader platform.
Can I hold metals positions over the weekend and major holidays?
Yes, but as with forex positions, rollover will be applied.