description
Trading

Metals

Why Trade Metals
Diversify Portfolio

Trading metals with IamFX allows you to use an effective alternative to diversify your investment portfolio.

Speculate on Market

To speculate on short or long term trading opportunities in a 24-hour market.

Fast Moving Markets

These are two of the world's most traded markets, making them fast moving and highly liquid.

Hedge Against Volatility

To hedge against market volatility and financial crises.

Tight Spreads

Tight spreads with small commission.

Trading Hours
Trading Hours

Trading hours for metals is from Sunday 23:00 GMT to Friday 21:45 GMT with daily break time from 22:00 GMT to 23:00 GMT.

Account Denomination Currencies
Account Denomination Currencies

USD, EUR, GBP, AUD, CAD, HKD, JPY, CHF

Execution Spreads
Symbols

IamFX currently offers 24 hour trading in the following pairs with gold and silver: XAU/USD, XAG/USD and Copper.

In order to view all available trading instruments in the Market Watch window inside the Metatrader trading platform, just move your mouse cursor inside the Metatrader over the symbols located in the Market Watch window, right click your mouse on any of the symbols and select "Show All" from the popup menu.

Execution Spreads
Execution Spreads

As a result of our Straight Through Processing, the spreads vary, which includes times of high market volatility, before and after major economic releases, and following other important news and events. Spreads and liquidity will reflect the prevailing interbank market liquidity.

Typical spread on Gold is 0.5, on Silver is 0.05 and on Copper is 0.002.

Metals Trading Highlights
Instrument Minimum Lot Size Minimum Pip Value Margin Per Minimum Lot Size (USD) IamFX Target Spread Minimum Stop Distance
Gold .01 $.07 $3 0.5 0
Silver .02 $.10 $7.5 0.05 0
Copper .01 $.20 $9 0.002 3
Price Quotes
Price Quotes

Trades are quoted via transparent "Straight Through Processing"; live prices are continuously published to clients via our trading platform, and traders can at any time click on the current bid or offer and execute a market trade. Trades are executed via "Market Execution" and the prices are updated automatically as market conditions dictate.

Price quotes of spot gold and silver are similar to price quotes of Forex currency pairs. For example, spot gold traded against the US dollar is XAU/USD.

Spot prices of gold and silver are quoted internationally in US dollars per troy ounce, so for a quote of XAU/USD 1300.50, 1oz of gold is equal to $1300.50

Increasing quote for gold means strengthening of gold value. Conversely, decreasing quote for gold means the gold is worth fewer dollars than before.

A typical quote you might receive for spot gold is 1385.80/1386.30 (bid/ask). This means that you could sell at 1385.80, or buy at 1386.30. The difference between the bid and ask prices is the spread (1385.80-1386.30) or 0.50.

Trading Hours
Calculating Profit & Loss

For gold, 1 lot is 100 troy ounces, and the smallest price increment (5 pips) is 0.05. This means that a one increment movement in the gold price represents a $5 price movement for each lot that you are trading.

For silver, 1 lot is 5000 troy ounces, and the smallest price increment (pip) is 0.01. This means that a one increment movement in the silver price represents a $50 price movement for each lot that you are trading.

If the price had moved against you to 1382.80, your loss would be calculated as follows:

You bought 1 lot at 1383.30
You sold 1 lot at 1382.80, a difference of 50 pips.
Your trade has therefore made a loss of 50 pips x $1 per pip, equals to $50.

As an example:
You decide to buy 1 lot of XAU/USD (spot gold) at 1383.30. A few minutes later, the bid (or sell) price has risen to 1383.90, and you decide to exit your trade.

Calculating your profit:
You bought 1 lot at 1383.30
You sold 1 lot at 1383.90 a difference of 0.60, or 60 pips
Your trade has therefore made 60 pips x $1, equal to $60.

Trading Minimums
Trading Minimums

Trading of gold and silver takes place in "lots". 1 lot of gold = 100oz and 1 lot of silver = 5000oz. Trading of gold starts at 1oz = 0.01 lot, silver from 50oz = 0.02 lot and copper from 0.01 lot.

Premium Accounts

Minimum transaction size for Premium accounts is 1/100th standard sized lot (.01), or 1,000 units of the base currency, with a minimum margin deposit of 1.0% (100:1 leverage).

SuperCore Accounts

Minimum transaction size for SuperCore accounts is 1/100th standard sized lot (.01), or 1,000 units of the base currency, with a minimum margin deposit of 1.0% (100:1 leverage).

Black Mamba Accounts

Minimum transaction size for Black Mamba accounts is 1/100th standard sized lot (.01), or 1,000 units of the base currency, with a minimum margin deposit of 1.0% (100:1 leverage).

Expiration
Expiration

Copper has a monthly expiration (please see the table below). Clients that hold an open position on the Expiration will be closed at our bid/offer at: USOil: 5:15 p.m. ET & UKOil: 5:15 p.m. ET

account types
2015 Copper
Contract Month Reference Expiration Expiration
March 24-Feb 23-Feb
May 27-Apr 24-Apr
July 25-Jun 24-Jun
September 26-Aug 25-Aug
December 24-Nov 23-Nov
Price Quotes
Price Quotes

Trades are quoted via transparent "Straight Through Processing"; live prices are continuously published to clients via our trading platform, and traders can at any time click on the current bid or offer and execute a market trade. Trades are executed via "Market Execution" and the prices are updated automatically as market conditions dictate.

Rollovers
Rollovers

IamFX clients have the opportunity to earn interest on positions left open overnight at all margin levels. The amount of interest that can be earned depends on the direction of the open position and the interest rate differential between the two currencies involved. For example, UK interest rates are significantly higher than Japan's, so if a trader is long GBP/JPY (i.e. holding British Pounds), they can earn interest on the roll. Conversely, if a trader is short GBP/JPY (i.e. holding yen) they will pay interest on the rollover.

Confirmations
Confirmations

Trades are confirmed on screen, typically within one second. Full transaction details may be accessed on screen as well, including date, time, rate, and notional amount bought and sold, USD value, and reference number.

Trading over the Internet
Trading over the Internet

IamFX offers its clients a simple procedure for executing a trade. Through our trading platform, just enter the number of lots and then click on the bid (buy) or offer (sell) for the currency pair you wish to trade. Your trade is automatically executed. The trading software calculates the initial margin requirement based upon the notional amount of the trade, and if sufficient funds are available in your account, will accept the transaction. Trades are confirmed online, normally within one second, and the system instantaneously updates both your open position and calculates your current P&L. Please note: all pending orders will be placed using margin rates of 100:1 leverage.

Daily Housekeeping
Daily Housekeeping

Daily Housekeeping will occur each evening at 1700ET and will last approximately 5 minutes. During that time, back office staff will conduct daily rolls and important system maintenance tasks will be performed. Online trading MAY be unavailable, but we will do our best to keep it available.

Reporting
Reporting

The trading software tracks all trading activity in real time, allowing clients to view current open positions, real-time profit and loss, margin availability, account balances, and all historical transaction details directly on-screen.

margin
margin

The maximum available margin is .20%, or 500:1 leverage for Premium accounts. SuperCore and Black Mamba accounts can trade with .25% (400:1 leverage) and .50% (200:1 leverage) respectively. Ultra Prime account holders can trade with a leverage individually setup based on their needs. IamFX Traders have the option of using a lower degree of leverage upon request. If maximum leverage is employed, traders must maintain the minimum margin requirement on their open positions at all times. It is the customer's responsibility to monitor his/her margin account balance. IamFX has the right to liquidate any or all open positions whenever a trader's minimum margin requirement is not maintained.

This is an important risk management feature designed to strictly limit trading losses in an account. The minimum margin requirement is approximately $25 per lot of 10,000 units of base currency in a SuperCore account with 400:1 leverage. The requirements for leverage may vary with account size or market conditions, and may be changed from time to time at the sole discretion of IamFX or upon request. Note: margin cannot be changed while holding open positions.

Account Statements
Account Statements

Customer account statements are provided online in the "Account History" section of the trading platform. Reports may be generated for any date range, and printed or saved for future reference. For more information on the available reports, please access the "Help" tab on the Metatrader trading platform.

Funding Your Account
Funding Your Account
Wire Transfer

The easiest and most efficient method to fund your account. Funds are typically received by IamFX within 1-2 business days. All wire transfers should include the client's name and account number in the reference section of the wire. Please be sure that the beneficiary is listed.

You can find more information about IamFX Account Funding options in your IamFX customer area.

Credit & Debit Cards Credit & Debit Cards

Mastercard, Visa, American Express and Discover Card.

Moneybookers Skrill

Make convenient payments with your existing Skrill account.

China UnionPay China UnionPay

Make convenient payments with China UnionPay.

Webmoney webmoney

Make convenient payments with Webmoney.

netweller netweller

Make convenient payments with your existing Netweller account.

Withdrawal Requests
Withdrawal Requests

Withdrawal requests are processed within two (2) business days of receipt. Withdrawal requests via wire transfer will incur a $24 USD fee or equivalent in other currency.

Order Types
Market Orders Market Orders

Market Orders are the most common type of order. A market order is used when you want to execute an order immediately at the market price, which is either the displayed bid or ask price on the screen. You can use the Market Order to enter a new position (long or short) or to exit an existing position (buy or sell). When on the order platform, "Type" will read "Market Execution".

Associated Orders Associated Orders

Associated Orders are either entry orders or open position that have a stop loss and/or a limit order (take profit) attached to the position. For example: you buy 1 lot of EUR/USD and place a stop loss and limit order (take profit). These two orders are associated to the EUR/USD position. Note: on the IamFX Metatrader 4 trading platform, if you were to close the EUR/USD position prior to the associated order being executed, they will automatically cancel which is an efficient advantage during trading.