Precious Metals Trading | Trade Gold, Silver, and Platinum Online | OANDA (2024)

FAQs

Can you trade gold and silver on OANDA? ›

Take a position on the gold/silver cross with the OANDA trading platform. We offer competitive spreads on a range of metals and currency pairs, including a wide range of hard and soft commodities and forex instruments.

There are many ways to invest in gold. You can purchase physical gold coins, bars, or jewelry. Investors can also buy gold stocks (shares of gold mining, streaming, or royalty companies), gold-focused exchange-traded funds (ETFs), or gold-focused mutual funds. Each gold investment option has its pros and cons.

Gold and silver are traded as spot markets, similar to currency pairs. For more information on trading precious metals, see our trading gold and silver guide.

Available trading platforms include MetaTrader 4, MetaTrader 5, WebTrader, IRESS, and a user-friendly proprietary mobile trading app. FP Markets offers a great range of tools for professional traders. MAM/PAMM accounts allow clients to manage money on behalf of others.

Precious metal trading is no longer offered to US based clients due to regulatory requirements.

Remember: When you trade gold or silver at iFOREX in the form of CFDs, you can take advantage of any change in price – up or down. If you think that the price of the precious metal will go up, choose 'Buy' (long position). If you think the price will go down, choose 'Sell' (short trading).

There is no minimum deposit amount and you can deposit up to US$9,000 (or currency equivalent) to your OANDA account*.

Like any metal, the price of platinum can be volatile. Various factors affect it, the most significant being supply and demand dynamics. Other factors, such as economic conditions, geopolitical events, and changes in industrial and investment demand, can also impact the price of platinum.

Can you day trade precious metals? ›

These unit investment trust (UITs) actually own physical gold. On the other hand, an ETF is a fund that will typically invest in products that track gold's price, such as gold futures. ETFs and trusts are both acceptable for day-trading purposes.

Can I Trade Gold with $10? While it's technically possible to trade gold with $10, it's not advisable. Such a small amount would severely limit your trading options and expose you to excessive risk. It's recommended to start with a more substantial capital to engage in gold trading effectively.

FOREX.com is a popular gold broker amongst traders and investors due to its wide range of services available. Aside from gold trading, the platform also offers a comprehensive selection of other forex pairs as well as CFDs on stocks, indices, commodities and cryptocurrencies depending on your location.

One of the most popular metals to trade is gold. This is because gold has been a valuable commodity for centuries and is considered a safe-haven asset. Gold is often used as a hedge against inflation and economic uncertainty, making it a popular choice for investors.

The three most important gold trading centres are the London OTC market, the US futures market and the Shanghai Gold Exchange (SGE). These markets comprise more than 90% of global trading volumes and are complemented by smaller secondary market centres around the world (both OTC and exchange-traded).

Read their prospectuses for more information. Traditional mutual funds tend to be actively managed, while ETFs normally adhere to a passive index-tracking strategy and therefore have lower expense ratios. For the average gold investor, mutual funds and ETFs are generally the easiest and safest way to invest in gold.