OK what is the deal with metals at OANDA?! I have them on my screen but have no info on margin, tick and contract size and can't find that info on their website!
Tools>Pip/profit calculator Account>leverage Both from the trading window menu But I agree that the website itself isn't helpful. If my calculations are correct, looks like a great way to lose or gain large amounts of capital.
Same margin as your account. Click on Tools - Pip / Profit Calculator to see everything you'd want to know, except interest. For that and more, see this, as usual... it's all there. 1 unit = 1 ounce for both gold and silver. Easy as pie. Beware of shockingly widened overnight (not just weekend) spreads.
my very first 9 silver and gold spot trades - all winners. simulator account. still experimenting before I go live. spreads are a little freaky. x
It 's still not very clear. If I figure this correctly the equivalent of the mini gold would be about 33 units. It then trades in 10 cents increments worth $3.3. 60 cent spread is then $19.8 With 100 unit, the tick value is $10, spread becomes $60. The default trade value in FX trade is 10,000 units , $100 tick, $6,000 spread ! Is that right ? I will stick to the mini then. This spread will kill you. Too bad I thought OANDA silver would be an alternative to mini silver which is so illiquid
default trade value? Oanda doesn't default to anything. You can set your own unit amount (number of units) from 1-unit (1-oz of gold/silver) up to any amount of units. hope I'm understanding you right. x