XAG/USD – Silver
The price of silver is driven by speculation and supply and demand; mainly by large traders or investors, short selling, industrial, consumer and commercial demand, and to hedge against financial stress. Compared to gold, the price of silver is notoriously volatile. This is because of lower market liquidity, and demand fluctuations between industrial and store of value uses. At times this can cause wide ranging valuations in the market creating volatility.
Margin Requirement's may differ depending on account type and can be viewed in the dealing rates and create order windows on the trading station or by clicking here.
Please click here for trading hours. Please note, however, that hours are subject to change based on Daylight Savings Time. Any holiday hours will be posted here. XAG/USD is a spot product so there is no expiration.
XAG/USD has a target spread of 4.32 pips/points.
The minimum number of contracts per click (trade) for XAG/USD is 1 and the maximum number of contracts per click (trade) for XAG/USD is 200,000.
Minimum Pip Cost (Value)
XAG/USD has a minimum value of $0.01 per point (Your per point value may be different if your account is denominated in a different currency. Please refer to the Simple Dealing Rates Window in Trading Station for this value).
The pip/point location is shown below. Each 0.01 price movement on XAG/USD is 1 pip/point. FXCM’s pricing displays an additional decimal place - ideal for scalpers in a fast-moving market.
XAG/USD does have a financing cost (Rollover) which is usually 3x on Wednesdays like FX pairs.