·      Is a contract between the Trader and the Broker to buy or sell a certain instrument at a spot price.

·       The symbol for Spot gold is GOLD (for GOLD against USD) and for Silver is (SILVER against USD) and GOLDEURO (GOLD against the Euro) and SILVEREURO (Silver against Euro)

·       Gold and Silver are traded on a 24 hours basis during weekdays. They are traded on different exchanges, of which GLOBEX is the most common one.

·      The minimum contact size is equal 0.01 lot and the maximum size is 50 contracts per order.

·      One lot or one contract of spot gold is equal to 100 troy ounces. One contract of spot silver is equal to 5000 troy ounces.

·      Leverage for GOLD or SILVER is 2%. So required margin to open one lot of GOLD is 2% x Price of Gold x 100. For silver it is 2% x Silver Price x 5000

·      Spread on spot gold is 50 pips and spot silver is 5 pips. For example the exchange rate on spot gold is 1531.06/56. Spreads are usually fixed, except during “out of hours trading” during night, where spreads will slightly increase.

·      Phone trading is available and you can place the order during Dealing Room working hours from Sunday 21:00 GMT until Friday 21:00 GMT.

·      Please be advised that you will be able to hold positions over the weekend. Swaps may apply.

·      When trading spot gold and silver you will never experience any expiry. As long as you maintain the required margin, your open position will remain open until you decide to close it.