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OTC Precious Metals

When talking about OTC Spot Precious Metals these are different to futures contracts. We are talking about the spot price of Gold and Silver when trading. The trade is performed as it is done with foreign currencies, by the OTC method (over the counter) which means the trading is done directly between the two involved parties and not via an exchange market).

Learn more about precious metals: Gold

At ICM Capital, Gold is quoted in $/¢ and Euro per troy ounce and has a contract size of 100 ounces per standard lot.

The minimum price movement is USD 0.01, also referred to as a point or tick. Therefore the smallest tick value is one dollar.
E.g. $1150.21 - $1150.20 = $0.01 ($0.01 * 100 = $1 per standard lot).

Of all the precious metals, Gold is the most popular as an investment. Investors who trade gold online generally buy gold as a hedge or safe haven against any economic, political, social or currency-based crises. Investors also buy gold and take part in gold trading during times of a bull market in an attempt to gain financially.

Gold has inherently been linked to foreign exchange for many years, due mainly to the Gold Standard and Bretton Woods agreement of 1944 which linked all of the major currencies together up until 1971. Although there is no fixed link between gold and currencies in the modern day marketplace there are still strong parallels.

 

Learn more about precious metals: Silver

When talking about silver trading it is quoted in $/¢ or Euro per troy ounce with a standard contract size of 5000 ounces per one standard lot. The minimum price movement is 0.01 dollars, also referred to as a point or tick. Therefore the smallest tick value is fifty dollars.
E.g. $18.00 - $18.01 = $0.01 ($0.01 * 5000 = $50).

Silver, like its precious counterpart gold, is readily used as an investment tool and economic indicator with investors who trade silver online. Unlike gold, when trading silver it is traded as an industrial commodity and as a result of this can lose its strong positive correlation providing the market place with added trading potential.

Contract Specifications

Metals/US$ ICM Capital Trading Hours Contract size Margin Requirement ICM Direct Typical Spread* ICM Direct Limits/stops pending orders can be placed from market price ICM Pro ICM Pro Limits/stops pending orders can be placed from market price
GOLD Spot 23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break) 100 Troy oz 0.5% $0.35 No Minimum 0.243 50 cents
23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break)
SILVER Spot 23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break) 5,000 Troy oz 1% $0.04 No Minimum 0.02013 10 cents
23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break)

 

Metals/EUR€ ICM Capital Trading Hours Contract size Margin Requirement ICM Standard Fixed Spread ICM Standard Limits/stops pending orders
can be placed from market price
GOLDEURO Spot 23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break) 100 Troy oz 0.5% EUR 0.80 80 cents
23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break)
SILVEREURO Spot 23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break) 5,000 Troy oz 1% EUR 0.04 10 cents
23:01 - 22:00 (Sun - Fri) /22:00 - 23:00 (Daily break)

i. All times are based on ICM Capital Server time
ii. Min and Max Lots per trade:  0.01 lots - 50 lots
iii. ICM Direct account requires no minimum limits/stops required to enter the market
iv. Subject to change without prior notice

Swap Policy

No swaps will be offered on any positions under ICM Standard accounts. ICM Capital reserves the right to discontinue an Islamic/SWAP-free account without warning. ICM Capital will invoke this right in case of suspicion of abuse, in which case ICM Capital may, at its sole discretion, decide to close all open positions in the account and deduct or add swaps for all transactions currently and/or previously made in the account and decline from accepting any further requests from the Client to be exempted from SWAP.

While using higher leverage can significantly increase your profits, it equally can work against you as it involves greater risks to your capital. If the currency underlying one of your trades moves in leverage will greatly amplify your potential losses. It is possible for you to lose more than your initial deposit so please ensure CFD trading meets your investment objectives and seek independence advice and trading style that includes the use of stop and limit orders.

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Fund your Account

Trading CFD's or Spot FX carries a high risk to your capital and can result in losses that exceed your deposits. CFDs and Spot FX are leveraged products. Trading CFD's or Spot FX carries a high risk to your capital and can result in losses that exceed your deposits. You should not engage in this form of investing unless you understand the nature of the Transaction you are entering into and the true extent of your exposure to the risk of loss. Your profit and loss will vary according to the extent of the fluctuations in the price of the underlying markets on which the trade is based.