Trading XAU/USD on the FxPro terminal

Find the symbol and read the contract

XAU/USD is the gold symbol on MT4, MT5, cTrader and FxPro Edge; add it to your market watch and open the contract specification before you trade it. One standard lot is 100 oz and one pip is 0.01, which is the arithmetic every later decision rests on.

Check the reference price against the chart before you size anything; with spot gold near 4275.0, a 0.01 move is one pip, and a lot of 100 oz turns that pip into a dollar amount you should know in advance. The pip value calculator gives you that figure for the lot size you intend.

Size the order before you click

Size from the risk, not from the margin you have free. Decide what a stop-out would cost you in naira, then let the position size calculator convert that into lots at your entry and stop distance. Doing it the other way round is how accounts get over-leveraged on gold.

The margin calculator then tells you what the position ties up. At 1:200 via the offshore entity, 0.10 lot needs about $85.50 margin, but margin is not risk: the stop distance and the pip value decide what you can lose. Keep those two numbers separate in your head.

Remember the leverage cap is a ceiling, not a setting to aim at, and the figure you were offered may differ from another trader's because the questionnaire set it.

Set the exit with the entry

Place the stop loss and take profit in the same order ticket as the entry, not afterwards. Gold gaps and spikes, and a position opened without a stop is one you are managing by reaction rather than by plan. The stop distance you used in the position size calculator is the stop you place.

Run the profit calculator on both the target and the stop before you send the order, so you see the reward and the risk side by side in your base currency. If the numbers do not justify the trade at that size, reduce the lot rather than widening the stop.

Keep the SEC Nigeria caveat in view: FxPro is licensed by the FCA (UK), CySEC and FSCA, and you should confirm any broker on the SEC Nigeria register of capital market operators.

Gold appears as XAU/USD, GOLD, or XAUUSD depending on the platform you open

The correct symbol is the one whose contract specification matches the lot size and margin you planned, not simply the first gold entry you find. In Nigeria, where you may fund via local NGN bank transfers, Visa or Mastercard debit cards, e-payments, or crypto, the platform does not change the symbol naming, but your account currency can affect how margin is displayed. Check that the symbol's margin currency aligns with your account base currency to avoid conversion surprises. If you are unsure, use the platform's search function and compare the contract size field across results; the one that shows 100 oz per lot is the standard gold contract you sized for.

One standard lot of gold is 100 ounces, so price moves are multiplied by 100

The contract size also determines the margin required, because margin is a percentage of the notional value of the position. At the maximum leverage available in Nigeria of up to 1:200 via the offshore entity, a 0.10-lot gold position needs about $85.50 margin. That figure comes from the notional value of 10 ounces at the reference price, divided by the leverage ratio. If you trade a different lot size, the margin scales proportionally, but the contract size of 100 oz per standard lot remains the anchor. Note that one review cited 1:30/1:20 caps, which is conflicting and not verified at review, so confirm the leverage on your account before you rely on any margin figure.

Place the stop-loss order at the same time as the entry order, not after the trade is live

Placing the stop at entry also ensures the stop is active even if you lose connection or step away from the screen. Gold can move quickly, and a position without a stop is exposed to unlimited loss in theory. On the platforms available through FxPro, the stop-loss is a server-side order once accepted, so it remains in force even if your terminal is closed. That is why the stop should be part of the entry order rather than an afterthought. If you are trading with leverage up to 1:200 via the offshore entity, the margin requirement is lower, but the risk of loss is not reduced; the stop is what controls the loss.

The swap line shows the overnight financing charge or credit for holding gold past the daily cut-off

The swap line is not a cost you can avoid by simply ignoring it; it is applied automatically to your account and will reduce your free margin if it is a debit. On the platforms FxPro offers, you can see the swap rate for long and short positions in the symbol specification, and the swap line in your open positions shows the accumulated amount. If you plan to hold gold for more than a day, factor the swap into your risk plan. Because the exact swap rate depends on the broker's financing costs and is not stated here as a number, you must check the live rate in the platform before you trade. The SEC Nigeria register of capital market operators is where you confirm any broker's status.

Use the platform's order ticket to link entry and stop, and verify the stop is active after execution

If you use a platform feature like one-click trading, be aware that it may not include a stop-loss field by default, so you must enable the stop-loss column or use the full order ticket. On FxPro's platforms, the default order type can be configured, but the safest approach is to always open the full ticket and fill the stop-loss before sending the order. In Nigeria, where you may fund via local NGN bank transfers, cards, e-payments, or crypto, the trading mechanics are the same, but the risk of an unprotected position is not reduced by the funding method. Confirm any broker on the SEC Nigeria register of capital market operators before you trade.

Swap costs on gold depend on the direction of the trade and the broker's financing rate, so check before holding overnight

If you plan to hold gold for more than a day, you should check the swap rate before you enter the trade and include it in your risk calculation. The swap rate can change, so a rate you saw yesterday may not be the rate applied today. On the platforms FxPro offers, the swap rate is available in the symbol specification, and the swap line in your trade tab shows the actual charge. Because the exact rate depends on the broker's financing costs and is not given as a number here, you must verify it in the platform. Also note that leverage up to 1:200 via the offshore entity is a cap, not a target, and one review cited 1:30/1:20 caps, which is conflicting and not verified at review.

checked 2026-07-09 · fxscouts.ng/broker/fxpro; forextrading.ng/best-forex-brokers; fxpro.com/about/licences