EDUCATION CENTRE
METALS CONTRACT DETAILS
USG offers real-time Spot Metals contracts. Spot metals have no expiry date. The position remains open until you choose to close it.
Spot Metals Information Table (Standard Contracts)
| Contract | One Contract Means | Tick | Value of One Contract (Per Tick Value) | Normal Spread | VIP Spread | ECN Spread |
|---|---|---|---|---|---|---|
| Gold | 100 troy oz | 0.01 | USD1 | 5 | 4 | 2 |
| Silver | 1000 troy oz | 0.001 | USD1 | 5 | 4 | 2 |
Notes to Tables
- USG’s Spot Metals Contracts are a special form of CFD that allow you to speculate on changes in prices in the precious metals market. All contracts are settled in cash only.
- All dealing spreads are subject to variation, especially in volatile market conditions.USG will not charge any additional commission unless you sign a commission contract with an agent.
- Unless there is written agreement between the agent and client, USG will not charge any additional commission.
- The size of a standard transaction is one contract. According to different types of trading account, the transaction might be part of the contract.
- USG quotes spot metals for 24 hours a day, normally from 22.00 (GMT) on Sunday until 22:00 (GMT) on Friday.
- For spot metals transactions, funding adjustments are calculated and posted to the client's account daily.
Funding adjustments are calculated as follows:
S = L*P*D*V
Where:
- S= rollover amount
- L= contract lot size
- P= rollover rate (pips) of metal contact products
- D= days of calculated rollover rates
- V= the value of each pip for a metal contact product
A daily interest adjustment is calculated for any position that is opened before 23:00 (GMT) and that is still open after 23:00 (GMT).
Unless we notify you in writing, the interest rate applied will be +/- 2% above or below the Libor cash rate for standard contracts. USG reserves the right to amend the algorithms used for calculating rollover rates.
NOTE: For any position opened before 23:00 on Wednesday that is still open after 23:00 on Wednesday, the daily interest credit or debit will be made for three days as opposed to one day. This three-day adjustment covers settlement of trades over the weekend.
Investors can see trading rollover rates on the MT4 trading platform, as follows: Place your mouse anywhere within the MT4 market watch windowRight-click→Symbols→select the trading type of the overnight interest that you want to check→select properties to see the rollover rates for related commodities.
