Product and contract specs on MT5

On your MetaTrader 5 ECN account you can trade precious metals against USD: Gold (XAUUSD) and silver (XAGUSD). When trading these products, you will essentially be buying the metal and selling the USD (if long) or selling the metal and buying the USD (if short).

Alpari precious metals are priced in USD per troy oz (troy ounces).

We don’t charge you commission.*

Ticker Typical spread Lot size Contract size minimum increment
XAUUSD
(gold)		 USD0.50 100 troy oz 0.1
XAGUSD
(silver)		 USD0.04 5,000 troy oz 0.1

 

ECN account

  Gold Silver
Symbol XAUUSD XAGUSD
1 lot 100 troy oz 5,000 troy oz
Minimum volume 0.1 0.1
Typical spread
USD0.50 USD0.04
Tick value (per 1 lot) USD0.10 USD0.05
Minimum price increment (tick size) 0.001 0.00001
Margin (see below) 2% 2%

Position value

The value of a position can be calculated as the price multiplied by the number of troy oz.

Volume (lots) x troy oz (gold: 100; silver: 5,000) x price (USD) = position value (USD)

Margin

The margin is always 2% (= leverage 1:50).

Position value (USD) x 2% or position value (USD) / 50 = margin in USD

Profit and loss (P&L)

This can be calculated by multiplying volume, tick value and market movement.

(Closing price (USD) - open price (USD)) / tick size = market movement (ticks)

Volume (lots) x tick value (USD) x market movement (ticks) = P&L (USD)

Or:

Long: Position value at close (USD) - position value at open (USD) = P&L (USD)

Short: Position value at open (USD) - position value at close (USD) = P&L (USD)

Overnight positions

As with Forex, all positions held overnight will be rolled to the new spot value date and will therefore incur an overnight swap charge or credit to the client’s account. For more information see our rollover/interest policy.

Trading examples

In our specific examples, had you gone long, you would have generated a profit and had you gone short, you would have generated a loss.

Opening a position

  Example: Gold Example: Silver
Open price USD1,583.053 USD28.15250
Volume (lots) 1.3
Position value at open
Volume (lots) x 100 troy oz x price (USD)
1.3 x 100 x 1,583.053
USD205,796.89
Volume (lots) x 5,000 troy oz x price (USD)
1.3 x 5,000 x 28.15250
USD182,991.25
Margin requirement
Position value (USD) x 2%
205,796.89 x 2% 182,991.25 x 2%
USD4,115.94 USD3,659.83

Closing a position

Closing price USD1,601.102 USD30.10750
Tick size 0.001 0.00001
Tick value USD0.10 USD0.05

P&L calculation

Market movement
(Closing price (USD) - open price (USD)) / tick size
(1,601.102 - 1,583.053) / 0.001 (30.10750 - 28.15250) / 0.00001
18,049 ticks 195,500 ticks
Profit and loss
Volume (lots) x tick value (USD) x market movement (ticks)
1.3 x 0.10 x 18,049 1.3 x 0.05 x 195,500
USD2,346.37 USD12,707.50

Or:

Position value at close
Volume (lots) x 100 troy oz x price (USD) Volume (lots) x 5,000 troy oz x price (USD)
1.3 x 100 x 1,601.102 1.3 x 5,000 x 30.10750
USD208,143.26 USD195,698.75
Profit and loss
Position value at close (USD) - position value at open (USD)
208,143.26 - 205,796.89 195,698.75 - 182,991.25
USD2,346.37 USD12,707.50


*Please note that in the future Alpari (UK) may introduce commission charges.

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