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Trading gold on MetaTrader 4 is pretty easy, in terms of the practical procedure of entering and exiting the market.
It’s virtually identical to trading currencies, which is why a substantial amount of Forex traders also trade/invest in gold from the comfort of their trading platform.
There are details that vary from broker to broker, such as margin levels. Some FX brokers have different margin requirements for precious metals, for example.
However, the basics of operating MT4 when trading gold are pretty much the same. Mind you, this is about how to open and close trades. Developing a trading strategy for gold is an entirely different (and much broader) subject!
Options Available on the Platform
Most Forex brokers offer two types of gold that you can trade: exchange and spot.
What’s the difference? In terms of price and how you trade, not much. But they do imply some differences in your strategy. They are:
- Spot (usually under the symbol GOLD), refers to the spot price of ...
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