ICMarkets is a broker operating since 2007 in the first Australian market. Currently, the exchange is offering spreads as low as 0.000 for gold trading. Join Learn Forex Trading to learn more details about ICMarkets gold spread at this brokerage unit.
Are ICMarkets gold spread high?
ICMarkets was born to provide trading addresses with high-quality services. Accompanying that will be outstanding liquidity in the financial market. To do that, ICMarkets must certainly create a great attraction for traders.
What is the lowest spread for ICMarkets with gold?
If you want to have many traders, transaction fees must be cheap and currently, this exchange is doing very well. At this time, ICMarkets gold spread fees compared to other brokers are the lowest in the market. With just 0,000 pips traders can trade gold with other strong currencies.
Not only are transaction fees low, but the exchange even allows immediate delivery of Gold to USD and EUR. Besides, there is also a high level of leverage and many other quality accompanying services.
Compare ICMarkets gold spread with other exchanges
Currently, ICMarkets is providing traders with trading fees of just o.o. pips for gold. In comparison, Exness is the main competitor in the current market offering 2 pips for gold trading. In addition, there is also a charge of $3.5 for each transaction.
Another competitor of ICMarkets, FXTM, also has quite low spread fees. Currently, FXTM charges between $0.40 – $2 based on the volume of gold traded. Competing directly with spread fees in the Australian market is Pepperstone. This unit also has good spreads for gold trading from 0.05 with a commission of 7 AUD.
How to calculate ICMarkets gold fees?
Below are the steps to help traders calculate ICMarkets gold spread accurately.
- Step 1: First, determine which currency pair you want to use gold to trade with.
- Step 2: View the trading chart on the trading platform you are using. Specifically, both the buying price (bid) and selling price (ask) will be displayed.
- Step 3: Use a simple formula to calculate the selling price minus the buying price. For example, if the buying price of XAU/USD is 1.2000 and the selling price is 1.1990, then the calculated Spread will be 10 pips.
- Step 4: If you want to convert to currency, multiply the exchange rate to get it.
With the ICMarkets trading platform, the gold spread is 0.00 pips. Therefore, you will not have to pay this fee if you use gold to trade on the exchange.
The importance of ICMarkets gold spread
Gold Spread is one of the extremely important factors that greatly affect traders when trading. In particular, the difference between the buying price and the selling price directly affects the trader’s profit. So below you will understand its importance if trading with ICMarkets.
Effective trading strategy on ICMarkets
The impact on transaction costs will impact the effectiveness of the strategies applied to the exchange. This cost is fixed and has a big impact when you participate in buying and selling gold. If the trading strategy used is not profitable, but the spread is too high. Then small price changes can affect profits.
Manage risks
If ICMarkets gold spread is high, this can increase the risks of gold trading. Because placing large orders is required to cover the spread costs. So, if you want to manage risk well, you must choose the XAU/currency pair with a low spread.
See more: ICMarkets Review: Trading Platform and top advantages
Calculate strategies and place ICMarkets gold trading orders
If the gold spread is high, you need to place a larger order to not affect your profits. On the contrary, if ICMarkets gold spread is low, you will choose this exchange. Then place high orders to maximize profits achieved when trading. As can be seen, it is clear that the gold spread greatly affects the psychology of traders.
Why should you choose ICMarkets Gold?
Currently, Forex brokers in the market compete heavily to win the attention of customers. Exchanges always take outstanding features and rely on transaction fees to attract customers. So with ICMarkets Gold, why does such a large number of customers choose it?
ICMarkets gold spread is attractive to traders
ICMarkets is a reputable forex exchange and known to many traders. This exchange is also the leading name in the list of brokers with the lowest spreads. When you use a Raw Spread account, the gold spread is only 0.0 pips and the commission is 3.0 – 3.5 $/lot. For the standard account, there is no commission and the spread is only 1 pip. Those are ICMarkets account conditions that attract traders to access and use. See more ICMarkets max lot size here!
Quality of transactions on ICMarkets
With the criterion of providing customers with quality financial services right from its inception. CFTC (United States), NFA (United States), ASIC (Australia), FCA (United Kingdom), BaFin (Germany), CySES… are the organizations that are monitoring and licensing ICMarkets’ operations. Therefore, the quality of ICMarkets gold transactions is highly appreciated.
Deep liquidity of ICMarkets trading market
ICMarkets gold is considered to have an expanding market, attracting a large number of investors. ICMarkets is built in an ECN environment so order matching speed is fast. This creates huge liquidity that is realized in a real environment.
Things to keep in mind with ICMarkets spreads for gold
Although ICMarkets gold is a product that attracts a large number of investors to participate in trading. However, traders still need to be careful with gold products when trading at ICMarkets.
ICMarkets spread fluctuations in the market
Fluctuations in the spread can cause your position to go from profitable to unprofitable. If the trading volume is large, charging high spread fees will greatly affect the account. Especially the fluctuations of ICMarkets spread on the market will be unpredictable. This depends on the floating spread which cannot be adjusted. Therefore, when participating in gold products, you also need to be very careful about ICMarkets gold spread.
Trading time also affects spreads
If trading overnight using an account is charged at ICMarkets, traders must be very careful. ICMarkets spreads for gold if kept overnight will not be cheap, depending on the account and volume you hold, and the number of days held. Pay attention to this detail to optimize profits when trading.
See more: Instruct with an ICMarkets open account swiftly
Conclude
ICMarkets gold spread is an important factor for traders when participating in trading. ICMarkets understands this very well and has provided extremely low spreads on gold. Hopefully, the Learn Forex Trading article has helped you understand more about this trading platform. Besides, understand the details about the differences and notes when trading gold.
Frequently asked questions
ICMarkets gold is a hot product in the international financial trading market. Large number of participants, large liquidity. Therefore, the information below will be very helpful for you to trade successfully.
Is it possible to track ICMarkets gold spread?
If a trader trades on the MT4 or MT5 trading platform and wants to track Spread Gold, it is not difficult. You choose Indicator, then select Spread, fill in the parameters, and press the OK button to apply the indicator and Spread. You can also view Spreads on websites that provide market information such as Investing.com, ForexFactory.com, or Myfxbook.com.
Is it possible to trade without paying fees?
No, in forex trading, ICMarkets gold spread is indispensable. You will have to pay spreads to open and close trading positions. This is a form for the brokerage exchange to do business and have a source of income for its operations. However, you can choose a broker with a low Spread or 0 Spread (zero spread) for a limited period or in a specific account like ICMarkets.
What are the benefits of ICMarkets gold?
It can be said that gold is always the leading product in the financial market. Trading on ICMarkets is also virtual trading and does not require evidence or certificates. Therefore, it receives the attention of many traders around the world.
