Question: What is the trading condition of Gold (XAUUSD) on KVB Kunlun's MT4?
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Along with Forex Currency Pairs and CFDs, KVB Kunlun also offers Gold denominated in USD and CNY.
It is a Spot Contract, so there is no contract expiration date for the Gold trading.
Both Spot Gold tradings, denominated in USD and CNY have different trading conditions.
Please refer to the below tables.
Contract Specification table for Gold (XAUUSD)
| Contract Size | 100 ounce per 1 lot |
|---|---|
| Normal Spread | 0.5 USD (variable) |
| Minimum/Maximum Trading Size | 0.01 – unlimited lots |
| Value of the minimum fluctuation | 10 USD per 1 lot |
| Maximum Leverage | 1:200 |
| Margin Requirement | 0.5% |
| Swaps | Yes, unless swap free Islamic account |
| Physical Delivery | Non Deliverable |
| Trading Hours | 18:00 – 17:00 from Sunday to Friday in NY time |
Contract Specification table for Gold (XAUCNY)
| Contract Size | 1000 gram per 1 lot |
|---|---|
| Normal Spread | 0.25 RMB (variable) |
| Minimum/Maximum Trading Size | 0.01 – unlimited lots |
| Value of the minimum fluctuation | 1 RMB per 1 lot |
| Maximum Leverage | 1:100 |
| Margin Requirement | 1% |
| Swaps | 1%, unless swap free Islamic account |
| Physical Delivery | Non Deliverable |
| Trading Hours | 18:00 – 17:00 from Sunday to Friday in NY time |
Spot Gold Tradings
Spot trading has a opposite condition from Future trading.
Futures are transactions which will be placed in the future when the contract expires, on the other hand, Spot transactions are made on the spot when you place an order.
Forex tradings are also one popular spot transaction.
There is no expiration date for tradings of the Gold, and you can hold it as long as you want, but you need to be aware of the costs(swaps) to hold positions over night.
Swaps are storage costs
Unless you have an Islamic swap free account, all your open positions are subject to overnight charges, or so called Swaps.
Swaps are charged at 00:00 in server time of the trading platform.
KVB kunlun charges you swaps including its storage costs.
You can also have the swaps credited depending on financial instruments and directions.
