Gold & Silver Contract Details

Gold & Silver Contract Details:

Product Gold Silver
Lot Size 100 Ounces 5,000 Ounces
Product Spread US$ 0.5 US$ 0.04
Lot Size for each Single Order 0.05 lots - 20 lots
Initial Margin US$2500 Per lot US$1500 Per lot
Over Night Interest

Buy: Cost 2.2%
Sell: Receive 0.2%

*Refer to the trading platform

Trading Hours Summer Time: Monday 07:00 to Saturday 03:00
Winter Time: Monday 07:00 to Saturday 04:00

* Day End Time
Summer Time: Everyday 05:00
Winter Time: Everyday 06:00

USA Summer Time: From 2am, the second Sunday in March to 2am, the first Sunday in November.

USA Winter Time: From 2am, the first Sunday in November to 2am, the second Sunday in March.

 

Precious Metals Trading Notes:

Order Method

Through the online trading platform or mobile platform during trading hours

Trading Method

Market Order: Buy or sell at market price.

Limit Order: An order to buy or sell a product at the maximum or minimum price.

Stop Order: An order to buy or sell a product when the current market price surpasses the order price.

OCO Order: OCO orders combine a limit order with a stop order. A pair of orders that when the stop order or limit order is executed, the other order will be cancelled.

If..Then Order: If...then order consists of two orders. If the first order is executed, the other order will be placed.

Expiry Mode

Apart from market order, clients can set all types of orders on different expiration dates. Orders can expire:

* At any time until the week before the expiration of valid order(Good Till Time ) ;
* Until the last trading day of the week(Good Till Friday/Cancel);
* Good Till Time: the shortest time can be set at 10 minutes

* Please note that all limit orders may have special arrangements on international holiday which may be announced before the relevant holiday.

Limit / Stop Order Level

Apart from market orders, limit orders and stop orders level will be restricted by the system.
Different products have different restrictions. Please refer to trading platform.

* Restriction levels may be increased according to economic data released. Please pay attention to trading announcements.

 

Liquidation Margin Level

When the account equity equals to 20% of used margin, the system may close current open positions, starting form the most unprofitable trade, at current market price. The process may continue until the account equity reaches above 20% of used margin.

 

Lock Positions Margin

This refers to holding the same product, in the same amount, but in opposing positions. Lock positions require a 25% initial margin.
To unlock a locked position, 100% of initial margin is required.

 

Weekend Margin Requirement

For clients who have open positions of 10 lots or above and the account equity falls below 100% of initial margin, iGlobal may close the open positions at market price without prior notice until the margin reaches above 100% of initial margin on:

Every last trading day (Friday) of the week;
The trading day before holiday (market closed), and
10 minutes before market closed

 

Live Chat