Instruments
Gold, silver and other metals can be traded on every GFN programme where the instrument is available. Leverage is up to 1:50 and can be lower on metals, commission is $7 per lot round turn, and gold's dollar range makes the daily loss limit - 3% on Instant, 5% elsewhere - the rule to size against first.
What GFN offers
GFN confirms metals such as gold can be traded where supported instruments are available. Leverage on metals can differ from forex, and the instrument information on your account is the authoritative specification.
Source: Can I trade metals such as gold? The live instrument list and each instrument’s specification belong to your account.
A ceiling. Metals can carry lower leverage than forex.
$3.50 per side, $7 per lot round turn, charged on the simulated account.
Every trade, every programme, evaluation and funded stages.
Instant / 1 Step / 2 Step. The same figure whatever you trade.
Login details issued on purchase.
The rules that bite
The limits are the same on every instrument. What changes is which of them an instrument reaches first.
Gold's daily range in dollars dwarfs a currency pair's, and floating losses count against the limit in real time. A forex-sized position on gold can use a $3,000 Instant allowance in a single move.
The rule in full →News trading is permitted during evaluations. On a simulated funded account, profits from trades opened or closed within 3 minutes before or after a relevant high-impact release may be removed. Instant starts at the funded stage, so the funded rule applies from day one. Rate decisions, inflation and payrolls data all reach gold within seconds.
The rule in full →Leverage is up to 1:50 as a ceiling and can be lower on metals, so margin runs out at a smaller position than on a major pair. A permitted size does not excuse a breach.
The rule in full →Spreads on metals widen around releases and at thin hours. The drawdown rules apply through them, so a stop placed close to a limit can fill beyond it.
The rule in full →Programme
Daily loss limit
Max drawdown
Instant
3% ($3,000 on $100,000)
5%, trailing
1 Step
5% ($5,000 on $100,000)
8%, trailing, locks at starting balance
2 Step
5% ($5,000 on $100,000)
8%, non-trailing
Sessions and hours
Gold trades through most of the week with a short daily break. Your account's instrument information carries the actual schedule, including holiday changes.
Liquidity and range concentrate in the London morning and the New York open, where the US data calendar lands.
Overnight and weekend holding are permitted where the account type and the underlying market allow. Weekend gaps, spread changes and market closures remain the trader's risk, and a gap can trigger a drawdown breach.
Risk considerations
A one-dollar move in gold is worth far more per lot than a one-pip move in a major pair. Position size has to be set for the instrument, not carried over.
Gold responds to interest rate expectations and risk sentiment, so it can move sharply on news that has nothing to do with metals.
Silver tends to follow gold with a larger percentage move and thinner books, which means more slippage at the same size.
Worked example
A $100,000 Instant account and a gold contract of 100 ounces per lot - check the specification on your own account, because contract size varies.
3% of $100,000.
Under the 100-ounce assumption.
An ordinary intraday swing for gold.
Before commission, which comes out of the same allowance.
The same $3,000 is 60% of the 1 Step daily allowance of $5,000 - survivable there, fatal on Instant.
Can I trade metals such as gold?
Yes, where supported instruments are available.
Is leverage the same for every instrument?
No. Forex, metals, indices, commodities and cryptocurrencies can have different leverage requirements.
Can I trade during news events?
News trading rules can vary by program or account stage - always check the rules attached to your specific account before trading around major announcements.
Does slippage excuse a breach?
No. Traders are responsible for managing their position sizing with enough room for changing market conditions.
Can I hold trades over the weekend?
Where permitted by your specific account type, yes.
XAU/USD
The symbol for spot gold priced in US dollars - XAU is the code for one troy ounce. It is the most traded metal instrument and one of the most volatile instruments on a retail platform.
Silver
Spot silver, quoted as XAG/USD in US dollars per troy ounce. It tends to move with gold but with a larger percentage range and materially thinner liquidity, which makes position sizing carried over from gold too large.
Commodities
Raw materials traded as instruments - energy, metals and agricultural products. Prices are driven by physical supply and demand rather than by interest rates, which makes them move on a different calendar from financial instruments.
Tick value
What one minimum price increment is worth per contract. It is the futures and index equivalent of pip value, and it converts a stop distance directly into a dollar figure.
Leverage
The ratio between the notional size of a position and the margin required to hold it. At 1:50, $2,000 of margin supports a $100,000 position - it changes what you can open, not what you may lose.
FOMC
The Federal Open Market Committee, the body that sets US interest rates. Its scheduled decision, written statement and press conference move every dollar-denominated market, usually in two distinct waves about half an hour apart.
CPI release
The monthly consumer price index, the headline measure of inflation. It drives interest rate expectations more directly than almost any other release, which is why it moves currencies, metals and index instruments simultaneously.
Slippage
The difference between the price requested and the price filled. It appears when the market moves between order and execution, and it is most pronounced around news and at thin points in the session.
Forex
Forex on a simulated GFN account at up to 1:50, $7 per lot round turn. The news, hold-time and daily-limit rules that matter most for FX.
Indices
Indices on a simulated GFN account, where available: session hours, leverage up to 1:50, and the market-open and news rules.
Commodities and oil
Oil and other commodities on a simulated GFN account, where available: leverage up to 1:50, $7 per lot round turn, gap and news rules.
Crypto
Crypto CFDs on a simulated GFN account, where offered: hours and leverage that differ, $7 per lot round turn, and how to size for volatility.
Ready when you are
One evaluation fee, no time limits and up to 90% of simulated profits. Pick an account size and your credentials arrive by email within minutes.
No subscriptions or hidden fees
Payouts every 14 days
$400,000 max total allocation