Gold trading at IC Markets: leverage, hours and the swap-free fee.

Gold trading at IC Markets: leverage, hours and the swap-free fee.

You can trade gold on IC Markets as a spot CFD, XAUUSD, on MetaTrader 4, MetaTrader 5, cTrader and TradingView. IC's global company offers leverage of up to 1:2000 on gold, trading runs from 01:02 to 23:57 server time, and IC's Help Centre puts the average gold spread on the Raw Spread account at 1 pip. Gold is also quoted against the euro, pound, yen, Swiss franc and Australian dollar.

Prices here move further and faster than on most currency pairs, which is why it is so popular and why beginners lose money on it quickly. The details below, from IC's own pages, cover what it costs to trade, when leverage changes, and how to size a position so one move doesn't end the account.

SymbolXAUUSD (also XAUEUR, XAUGBP, XAUJPY, XAUCHF, XAUAUD)
Max leverage1:2000; 1:200 for new trades over the weekend
Trading hours01:02 to 23:57 server time (GMT+2, or GMT+3 in summer)
Raw Spread average1 pip (IC Help Centre), plus commission
Swap-free holding fee$67 per lot per night after grace days
PlatformsMT4, MT5, cTrader, TradingView

Gold trading hours at IC

IC's trading hours page lists gold from 01:02 to 23:57 server time; our forex market hours tool shows when each session is open in your own time zone. Silver, platinum and palladium open at 01:02 on Monday and close at 23:59 daily, 23:57 on Friday. IC's server clock runs on GMT+2, or GMT+3 during daylight saving, so a daily candle closes at 5 pm New York time.

The daily break around rollover, at the end and start of the server day, is when gold spreads are widest. Avoid opening trades in that window.

What gold costs to trade at IC

CostRaw Spread accountStandard account
SpreadRaw spread; IC's Help Centre average is 1 pipRaw spread plus IC's markup
CommissionYes: commission applies to metals, $3.50 per lot per side on MetaTraderNone
Overnight swapLong and short swap rates applyLong and short swap rates apply
Swap-free holding fee$67 per lot per night after grace days$67 per lot per night after grace days

Swaps on metals triple on Wednesday nights. Check the current long and short rates in MetaTrader's Specification window before holding a position for days, or estimate them with our swap calculator.

Gold leverage and the weekend rule

IC's global company offers up to 1:2000 on gold and 1:1000 on silver, tiered by position size like all its leverage. One rule is specific to precious metals: from three hours before Friday's close until 30 minutes after Monday's open, server time, new gold and silver positions get leverage of 1:200. Positions opened before the window keep their leverage.

IC also applies Higher Margin Requirements around major news, US jobs and CPI releases in particular, which are also gold's biggest movers. Our IC Markets leverage guide explains how both rules work.

Weekend gaps are gold's biggest risk. If gold opens on Monday far from Friday's close, stops fill at the opening price, and IC's global company doesn't guarantee your balance can't go negative.

How to size a gold position

Gold's contract size decides how much each $1 move in the price is worth to you, and it can differ between brokers and platforms. Check it in your platform first: right-click XAUUSD in Market Watch and open Specification. Then size from your stop loss, not from the margin available.

  1. Decide the most you will lose on the trade, for example 1% of a $1,000 account, which is $10.
  2. Set the stop at a level that makes sense on the chart, for example $8 below your entry.
  3. Work out what each $1 move is worth per lot from the contract size in Specification.
  4. Divide your risk by the stop distance and the value per $1 to get the lot size, and round down.

Our gold lot size calculator does the arithmetic for you. For most small accounts the answer is 0.01 or 0.02 lots, far smaller than the margin would allow at 1:2000.

Swap-free gold trading

On IC's swap-free accounts, gold pays no swap but carries a holding fee of $67 per lot per night once the grace period of up to five days is used up; Wednesday night counts as three days. That is one of the highest fees on IC's list, so swap-free gold suits short holds far better than long ones. The IC Markets Islamic account guide explains the grace days.

Tips for trading gold at IC

  • Trade the London and New York sessions, when liquidity is deepest and spreads tightest.
  • Check the economic calendar for US jobs, CPI and Federal Reserve decisions before opening a trade.
  • Set your account leverage well below 1:2000 so you can't open oversized trades by mistake.
  • Close or reduce positions before the weekend if a gap would hurt.
  • Compare Raw and Standard on a demo using your own gold trades.

The economic calendar lists the releases that move gold.

Silver, platinum and palladium at IC

Gold isn't the only metal on offer. IC quotes silver against the US dollar, euro and Australian dollar, with leverage of up to 1:1000, and platinum and palladium against the US dollar. Silver trades from 01:00 to 23:59 server time (23:57 on Friday), and platinum and palladium open at 01:02 on Monday. Commission on Raw accounts applies to all metals, as it does to gold.

Swap-free holding fees are lower than gold's: $12 per lot per night on XAGUSD, $44 on platinum (XPTUSD) and $33 on palladium (XPDUSD), after the same grace period. Liquidity is thinner than in gold, so expect wider spreads outside the London and New York sessions.

Gold rewards patience and punishes size. Most of the damage we see comes from lot sizes chosen by free margin rather than by a stop loss. Work out your risk in dollars first, and the right position is usually far smaller than you expect.
Jannatul FerdaushWriter, FX Recap
Illustrative case: Nicolás, 31, Córdoba

Nicolás held 0.5 lots of XAUUSD over a weekend on a $1,500 IC account, with a stop $15 below his entry. Gold opened on Monday well beyond the stop, and the fill came at the opening price, costing him far more than he had planned. He now closes gold trades before Friday's final hours, trades 0.02 lots per $1,000, and keeps his account leverage at 1:200.

Frequently asked

Can I trade gold on IC Markets?

Yes. IC offers spot gold as XAUUSD and against the euro, pound, yen, Swiss franc and Australian dollar, on MT4, MT5, cTrader and TradingView.

What are IC Markets' gold trading hours?

01:02 to 23:57 server time. IC's server time is GMT+2, or GMT+3 during daylight saving, so the trading day ends at 5 pm New York time.

What leverage does IC Markets give on gold?

Up to 1:2000 at IC's global company. From three hours before Friday's close until 30 minutes after Monday's open, new gold positions get 1:200. Australian and EU retail clients face lower caps under local rules.

What is the gold spread at IC Markets?

IC's Help Centre puts the average gold spread on the Raw Spread account at 1 pip, with commission charged on metals. The Standard account adds a markup instead of commission. Spreads widen around news and rollover.

Is there a swap-free fee on gold at IC Markets?

Yes. Swap-free accounts pay a holding fee of $67 per lot per night on XAUUSD after the grace period of up to five days, with Wednesday counting as three days.

How much money do I need to trade gold on IC Markets?

IC's global company has no minimum deposit, but gold moves fast. Size trades from your stop loss so a loss is 1% to 2% of the account; for small accounts that usually means 0.01 to 0.02 lots.