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  1. #1
    FXCM Micro Support is offline Moderator
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    How do I trade Gold and Silver?

    Trading Gold and Silver with FXCM Micro

    • How do I add Gold and Silver to my platform? Click Here
    • What type of account do I need to trade Gold and Silver? Click Here
    • I am a U.S. resident; can I trade Gold and Silver? Click Here
    • How do I transfer my account to the UK? Click Here
    • Are Gold and Silver correlated to any currencies? Click Here
    • What strategies are used to trade Gold and Silver? Click Here
    • When is the best time to trade Gold and Silver? Click Here
    Last edited by FXCM Micro Support; 11-22-2010 at 07:01 PM.

  2. #2
    FXCM Micro Support is offline Moderator
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    How do I add Gold and Silver to my platform?

    In order to add Gold and Silver to your Dealing Rates window, follow these simple steps:

    Step 1 Click on Symbols at the top of the Trading Station II platform to open the Symbol Subscription List.


    Step 2 Scroll down to check the boxes next to XAU/USD (Gold) and XAG/USD (Silver), then click Apply in the lower right hand corner. (Please note: There is a maximum of 20 symbols visible at a time. You may need to uncheck other symbols to make room for Gold and Silver)


    Step 3 Gold and Silver will be added to the bottom of your subscription list and are now ready to trade!




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    Last edited by FXCM Micro Support; 11-22-2010 at 07:01 PM.

  3. #3
    FXCM Micro Support is offline Moderator
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    What type of account do I need to trade Gold and Silver?

    Gold and Silver are available to all clients with FXCM UK (LTD) Micro accounts. If you already have a UK based Micro account, your account is ready to trade Gold and Silver as soon as you have subscribed to them from the “Symbols” menu on Trading Station II. If you do not have a UK Micro account, you can apply for one at the following link: Open a Forex Trading Micro Account for $50 Dollars


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    Last edited by FXCM Micro Support; 11-22-2010 at 07:02 PM.

  4. #4
    FXCM Micro Support is offline Moderator
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    I am a U.S. resident; can I trade Gold and Silver?

    CFD (Contract for Difference) trading is not available to residents of the U.S. or its territories due to federal regulations and is therefore unavailable on FXCM US (LLC) based accounts. If you have residence in a country other than the United States, you can transfer your U.S. based account to the UK by filling out the following form.

    Please note: Proof of residence such as an electricity bill or bank statement will be required to be sent to admin@fxcmmicro.co.uk when changing your address.

    If you reside in the US and cannot trade CFD’s, there are ways to invest in Forex that are strongly correlated to the Gold market. DailyFX Analyst, Sumit Roy, explains how this can be done in his recent article titled “Gold – Forex Correlations Reinforced as Dollar Tumbles” at DailyFX.com.


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    Last edited by FXCM Micro Support; 11-22-2010 at 07:02 PM.

  5. #5
    FXCM Micro Support is offline Moderator
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    How do I transfer my account to the UK?

    You can transfer your US (LLC) based account to FXCM’s UK (LTD) entity by filling out the following form. Please note: US regulations prohibit US residents from trading with a non-US broker like FXCM UK. Therefore, US residents cannot trade Gold and Silver through FXCM.

    I'm a US resident and want to trade Gold. What can I do?

    Since US residents cannot trade gold and silver through FXCM, you may want to look at the correlation between the forex market and Gold prices. Many popular currency pairs are highly correlated with Gold which allows for an opportunity to relate forex trading to Gold prices. You can read more about this in DailyFX Analyst, Sumit Roy’s article “Gold – Forex Correlations Reinforced as Dollar Tumbles”. The article will show you the correlation strength between several currency pairs and Gold. Using the correlation you can trade currencies based on Gold price movements.



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    Last edited by FXCM Micro Support; 11-26-2010 at 04:05 PM.

  6. #6
    FXCM Micro Support is offline Moderator
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    Are Gold and Silver correlated to any currencies?

    If you are a US based account holder, you cannot trade Gold on your account. Instead, you may want to look at the correlation between the forex market and Gold prices. Many popular currency pairs have been moving in tandem with Gold lately. This allows the opportunity to “piggyback” the Gold market through Forex trading. You can read more about this in DailyFX Analyst, Sumit Roy’s article “Gold - Forex Correlations Firm as Interest Rate Expectations Rise”. In that article you can find the correlation strength between various currency pairs and Gold. Using Roy's analysis you can identify the currency pairs that have the strongest correlation with Gold and the ones that have the weakest.



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    Last edited by Rob at FXCM; 01-25-2011 at 03:29 PM.

  7. #7
    FXCM Micro Support is offline Moderator
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    What strategies are used to trade Gold and Silver?

    For trading strategies and market analysis, we suggest using DailyFX.com. The website features news releases, trading signals, and market analyst articles that are specifically tailored to FX and CFD traders. Here is a recent article featuring how to trade in this bullish Gold market: What is next for Gold?


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    Last edited by FXCM Micro Support; 11-22-2010 at 07:02 PM.

  8. #8
    FXCM Micro Support is offline Moderator
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    When is the best time to trade Gold and Silver?

    Volume and Liquidity for Gold and Silver follows the same pattern as the Major currency pairs. Trading is most active during London and New York trading. The slowest period for trading is between 22:00 and 23:00 GMT. This coincides with the one hour break in trading each day.


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    Last edited by FXCM Micro Support; 11-22-2010 at 07:01 PM.

  9. #9
    randallharrison is offline Registered User
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    Randallharrison

    My wife is an Australian Citizen while I am a US Citizen. Can she set up an Australian Micro and trade gold with currency pairs?

  10. #10
    Rob at FXCM's Avatar
    Rob at FXCM is offline DailyFX Administrator
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    Hi randallharrison,

    Welcome to the Micro Forum! Allow me to answer your question.


    If I have a family member that is a citizen outside the United States, can they open an account with FXCM based in a different country (Australia, United Kingdom, etc.)?

    That is a good question. It all depends on where your family member (in this case your wife) lives. Account type availability is based on where the trader currently resides. If your wife's current residency is in Australia, she would be able to open an Australian FXCM account (although Australia does not have micro accounts). However, if your wife currently lived in the United States, she would fall under the CFTC regulations of all US residents having to trade Forex through US Forex brokers.

    Let me know if you have residency outside the United States and I can assist you in applying for a new account or transferring your old account. Email me at rob@fxcm.com.

    Thanks again for your post!


    Rob


    Quote Originally Posted by randallharrison View Post
    My wife is an Australian Citizen while I am a US Citizen. Can she set up an Australian Micro and trade gold with currency pairs?
    Add your post to join the conversation or contact me directly at rob@fxcm.com!

  11. #11
    oggalan is offline Member
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    Can I trade Gold and Silver with my Micro Demo account?? My micro demo account is UK based since I am able to put Stop Loss and Take Profit.

    I am asking this because I realized today, that i was unable to open a trade in Gold, but in my Micro Real Account, I have the option enabled.

  12. #12
    Julius at FXCM's Avatar
    Julius at FXCM is offline DailyFX Administrator
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    Hello oggalan, and thank you for your post!


    Can I trade Gold and Silver with FXCM?

    If you reside outside of the United States, then yes you absolutely can oggalan! Gold and Silver trading is available for international clients on both Standard and Micro accounts. Please click here to learn more about trading Gold and Silver with FXCM Micro.


    I am a U.S. resident; can I trade Gold and Silver?

    CFD (Contract for Difference) trading is not available to residents of the U.S. or its territories due to federal regulations and is therefore unavailable on FXCM US (LLC) based accounts. If you have residence in a country other than the United States, you can transfer your U.S. based account to the UK by clicking on the link below that corresponds to what type of account you have:




    Please note: Proof of residence such as an electricity bill or bank statement will be required to be sent to the email address that corresponds to your account below when changing your address:


    Standard Accounts: admin@fxcm.com | Micro Accounts: admin@fxcmmicro.com


    If you reside in the US and cannot trade CFD’s, there are ways to invest in Forex that are strongly correlated to the Gold and Silver market. Our valued Quantitative Strategist and DailyFX Analyst David Rodriguez explains how this can be done in his recent article titled "Australian Dollar and Canadian Dollar Alternatives to Gold, Silver" at DailyFX.com. The article goes over how you can earn positive rollover if long AUD and CAD as opposed to paying carrying costs for Gold and Silver. Correlations to other markets are shown in the summary tables as well.


    How do I add Gold and Silver onto my platform?

    If you already have an FXCM LTD (UK) micro account, you can trade Gold and Silver as soon as you have subscribed to them from the “Symbols” menu on Trading Station II. If you do not have a UK Micro account, you can apply for one at the following link:


    In order to add Gold and Silver to the Dealing Rates window on your FXCM LTD (UK) micro account, please follow these simple steps:

    Step 1 Click on Symbols at the top of the Trading Station platform to open the Symbol Subscription List.


    Step 2 Scroll down to check the boxes next to XAU/USD (Gold) and XAG/USD (Silver), then click Apply in the lower right hand corner. (Please note: There is a maximum of 20 symbols visible at a time. You may need to uncheck other symbols to make room for Gold and Silver)

    Step 3 Gold and Silver will be added to the bottom of your subscription list and are now ready to trade!


    Please click here for more information about trading Gold and Silver on your FXCM LTD (UK) micro account.


    Why am I not able to trade Gold and Silver at this very moment?

    If you are not able to place or modify Gold and Silver orders on your platform it is either because the market is closed or because Gold and Silver are on break. Gold and Silver trading begins on Sunday at approximately 23.15 GMT. Furthermore, there is a daily break in Gold and Silver trading at 22.00 GMT and after that trading in Gold and Silver resumes at 23.00 GMT. During the break, you will not be able to place market orders, and limit/stops cannot be placed and/or amended . Full details of Gold and Silver trading can be found on page sixteen of the CFD Product Guide.

    Please click here for more information about trading Gold and Silver with FXCM.


    How can I trade more CFDs and Stock Indices?

    More CFD and Stock Indice trading is available for FXCM UK (LTD) standard accounts. Some of the advantages to holding a standard account include but are not limited to:


    • FXCM LTD accounts can to trade CFDs and Stock Indices


    • Different account denominations.

    • Different account types and platforms.

    • Plus much more!

    Please click here for more information on the advantages of having a standard account.


    The minimum starting balance for a standard account is $2000. Please let me know if a standard account would be something of interest to you, and I will be more than happy to put you in touch with a specialist that can go over all your options. Thank you in advance for your time and I look forward to hearing from you soon.


    Thank you again for your post oggalan! Please free to post with additional questions or contact me directly at julius@fxcm.com

    Quote Originally Posted by oggalan View Post
    Can I trade Gold and Silver with my Micro Demo account?? My micro demo account is UK based since I am able to put Stop Loss and Take Profit.

    I am asking this because I realized today, that i was unable to open a trade in Gold, but in my Micro Real Account, I have the option enabled.
    Last edited by Julius at FXCM; 02-03-2012 at 10:53 PM.
    Thank you for being a part of our trading community!

    Want to discuss how our resources can help you reach your trading goals? Add your post to join the conversation or feel free to contact us directly at help@fxcm.com!

    We look forward to hearing from you!

    FXCM Online Support

  13. #13
    Julius at FXCM's Avatar
    Julius at FXCM is offline DailyFX Administrator
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    Hello 2ez4x_com, and thank you for your post! On behalf of myself and everyone here at FXCM, welcome to the forum community!


    I have dual citizenship (United States and Mexico) and I reside in the United States. Can I open an account with FXCM LTD (UK) so that I can trade Gold and Silver?

    Your citizenship will not bar your ability to opening an FXCM LTD (UK) account, what really matters is your residency.

    New Commodity Future Trading Commission (CFTC) regulations require all US and overseas brokers to register with the CFTC in order to be able to accept US residents as clients, and will prohibit US residents from trading Forex with any broker that is not regulated in the US. For that reason it is required for traders residing in the United States that would like to trade forex and do business with us to open an account with our FXCM LLC (US) entity. If you can provide proof of residency outside of the United States however, then you can open an account with our FXCM LTD (UK) entity.

    Please click here for more information about the new CFTC regulations.


    As mentioned in my previous post on this thread however, if you reside in the US and cannot trade CFD’s, there are ways to invest in Forex that are strongly correlated to the Gold and Silver market. Please click here for more information.


    Thank you again for your post 2ez4x_com! Please free to post with additional questions or contact me directly at julius@fxcm.com

    Quote Originally Posted by 2ez4x_com View Post
    RE: Please note: "Proof of residence such as an electricity bill or bank statement will be required to be sent to admin@fxcmmicro.co.uk when changing your address."

    If U hold dual citizenship (USA & Mexico) though reside in USA can one qualify to trade gold?

    THX
    Last edited by Julius at FXCM; 02-08-2012 at 10:35 PM.
    Thank you for being a part of our trading community!

    Want to discuss how our resources can help you reach your trading goals? Add your post to join the conversation or feel free to contact us directly at help@fxcm.com!

    We look forward to hearing from you!

    FXCM Online Support

  14. #14
    skinnypig is offline Member
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    Hi Julius,

    Would you please give instruction to add Gold and Silver for trading on MT4 ( for UK and Australia account)?
    Thank you in advance,
    skinnypig

  15. #15
    Julius at FXCM's Avatar
    Julius at FXCM is offline DailyFX Administrator
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    Hello skinnypig, and thank you for your post!


    How can I add Gold and Silver for trading with an FXCM UK (LTD) / FXCM Australia (AU) account?

    Adding symbols on the FXCM MetaTrader4 platform is fast and easy! All you need to do is right click anywhere inside of the "Market Watch" window which is to the left of the platform by default.



    From there you can click on "Symbols" to choose which ones you'd like to see or "Show All" to see them all.




    Thank you again for your post skinnypig! Please feel free to post with additional questions or contact me directly at julius@fxcm.com

    Quote Originally Posted by skinnypig View Post
    Hi Julius,

    Would you please give instruction to add Gold and Silver for trading on MT4 ( for UK and Australia account)?
    Thank you in advance,
    skinnypig
    Last edited by Julius at FXCM; 12-10-2012 at 07:49 PM.
    Thank you for being a part of our trading community!

    Want to discuss how our resources can help you reach your trading goals? Add your post to join the conversation or feel free to contact us directly at help@fxcm.com!

    We look forward to hearing from you!

    FXCM Online Support

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