Brokers' inconsistencies with XAUUSD
Forum on trading, automated trading systems and testing trading strategies
Sergey Golubev, 2014.01.06 18:38
What is the Pip Cost for Gold and Silver?
- Gold: Symbol XAU/USD
The pip cost for 1 ounce of Gold (minimum trade size) is $0.01 per pip. - Silver: Symbol XAG/USD
The pip cost for 50 ounces of Silver (minimum trade size) is $0.50 per pip
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What's with the inconsistent tick value for XAU/USD (GOLD) depending on the broker?
E.g. MetaQuotes XAUUSD has a tick value of 1, which is just the way I like it. But Admiral Market's GOLD has a tick value of 0.1.
Also, what do you regard as 1 pip for XAUUSD, 0.1 or 0.01? Some sites like myfxbook regard 0.01 so calculations for gold yield 10x bigger pip values.