This is why some traders use technical indicators such as Bollinger bands in their trading strategy. Bollinger bands are used to identify markets which are quiet, and often moving sideways, as well as markets that are showing increased volatility and are about to trend in a certain direction. The Bollinger band tool itself is comprised of three lines. The middle line is a day simple moving average SMA and is used to calculate the value of the upper and lower bands. These bands are two standard deviations away from the day simple moving average SMA.
To insert the indicator, follow these steps:. Now you will have the Bollinger bands plotted on the price of gold, as shown below on the 4-hour chart of gold:. The Bollinger bands standard deviation is a measure of volatility and many rules around Bollinger bands focus on the price action around the upper and lower bands.
In fact, as you'll see in the chart below, there are frequent price action rejections, or turning points in price, of the upper and lower Bollinger bands:. The yellow boxes show price rejections of the lower Bollinger band. The purple boxes show price rejections of the upper Bollinger band. However, to be able to use an effective day trading gold strategy there needs to be another rule to help identify which band to focus on.
By using a moving average indicator as a trend filter traders can quickly determine what the trend of the market is which can then give more focus when using a day trading gold strategy. For example:. Select for Period, Exponential for Method and the colour of your choice green in this instance. Now the long-term period exponential moving average will be shown on your gold trading price chart:.
In this instance, the price of gold has stayed above the moving average, meaning that buyers are in control. Therefore, traders may only consider trading the rejection of the lower Bollinger band which in this case are the yellow boxes in the chart above.
These highlight some interesting day trading strategy setups as the trading price of gold did indeed reject the lower Bollinger band in the direction of the long-term period moving average in most cases. To learn how to trade in more detail and master placing your orders on the MetaTrader platform click on the video below:. Of course, there will be occasions where your chosen trading rules will be less effective and result in losing trades.
This is why risk management and using a stop loss will prove to be beneficial in the long run. They can help to minimise risk in order to have enough capital to trade with on the next trade. After all, trading is about managing probabilities and winning and losing is part of that process.
It is also important to remember that any strategies that have been discussed have not been tested historically for its effectiveness, it merely serves as a starting point to build upon. Traders can take this one step further by experimenting with different moving average values, learning additional price action patterns in the Admiral Markets Educational library and adjusting the timeframes.
In fact, you can also use advanced trading tools and indicators with the Admiral Markets Supreme Edition plugin which offers professional traders the ability to significantly enhance their trading experience. With this exclusive, yet FREE, plugin you can gain access to additional features such as the correlation matrix, the latest real-time market data and insights from professional trading experts and other fantastic tools.
Admiral Markets is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8, financial instruments via the world's most popular trading platforms: MetaTrader 4 and MetaTrader 5 Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or recommendation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.
Contact us. Why Us? Financial Security Scam warning NB! Login Start trading. Choose your language. How to start online gold trading. April 29, UTC. Reading time: 20 minutes. The history of gold Historically, gold has been looked on favourably around the world its value and status.
The World Gold Council also reports that in the majority of central banks have been raising their gold reserves at a record pace, helping to lift gold prices which can be seen in the long-term price chart of gold below: Source: Admiral Markets MetaTrader 5 , Gold , Monthly - Data range: from Jan 1, , to Aug 25, , accessed on Aug 25, , at pm BST. How to get started If you want to learn the gold trading basics then the best trading gold tips for you will be found below.
How to trade? Use the right broker! With Admiral Markets users can trade with a broker that offers the highest regulation, security and safety as possible, as well as have the ability to: Trade and invest with a broker regulated by the UK's Financial Conduct Authority, the Australian Securities and Investments Commission, and Estonian Financial Supervisory Authority and Cyprus Securities and Exchange Commission.
Open multiple types of accounts such as a CFD Contract for Difference trading account to go long and short to potentially profit from rising and falling markets, as well as access leverage of up to for Professional clients and up to for Retail clients. This means you can control a large position with a small deposit. Access the fastest and most secure trading platform in the world, MetaTrader, for Web, Windows, Mac, iOS and Android operating systems so you can trade on the go.
Trade on multiple asset classes such as gold, indices, commodities, currencies, global shares and cryptocurrencies. When to trade? Know your trading hours! For example, the chart below shows the 1-hour chart of the price of gold with an ATR 8 - effectively measuring the average range of the last eight hourly time periods: Source: Admiral Markets MetaTrader 5, Gold, H1 - Data range: from Jul 30, , to Aug 25, , accessed on Aug 25, , at pm BST.
Use a strategy! Some of the many ways to analyse the price of gold include: Fundamental Analysis. This is the study of economic data and sentiment regarding the gold market. For example, in times of economic uncertainty gold prices tend to rise due to its status as a safe-haven asset.
Advanced traders will attempt to analyse changing world economics to try and position themselves early on in a potential move higher in the price of gold. Technical Analysis. This is the study of price to identify possible entry and exit levels. The study of price generally comes down to using chart patterns, price action and technical trading indicators. This will be demonstrated in more detail in the trading strategy section further down the article. What affects the price of gold?
However, some of the major influences include: Geopolitical Uncertainty. During times of global economic unrest gold tends to perform well as investors buy into gold's safe-haven status. For example, in mid gold prices trended higher due to escalations in the US-China trade war.
Interest Rates. Many traders and investors use the financial markets in search for a 'monetary return' on their capital. In times of rising interest rates, the attraction of gold becomes much less as investors can get a better return in other asset classes that benefit from rising interest rates, such as currencies or bonds. Global Economic Data.
As gold is perceived as a safe-haven asset, any significant changes in global economic data can have an affect on the demand for gold. For example, if the global economy isn't growing then investors will fear a slowdown could be around the corner and may choose to exit higher risk investments such as equities in favour for safe-haven assets like gold.
The US dollar. Currency movements in the US dollar can have a big impact on the price of gold. This is because gold is denominated in US dollars. Therefore, a falling US dollar can push gold prices higher and a rising US dollar can push gold prices lower. How to invest in gold There are a variety of ways to invest in gold, as well as to trade it. Here are a few: 1. Invest in gold bullion or coins This involves buying actual gold such as gold bars, gold coins or even jewellery. Try gold futures A futures contract is an agreement by one party to buy, or take delivery of, and another party to sell, a commodity like gold.
Try gold options When purchasing a gold options trading contract, it grants the buyer the right but not the obligation to buy or sell the underlying asset at a set price before or on a certain date in the future. With CFDs traders have the ability to: Leverage. Traders can use margin trading to control a large position with a small deposit. Retail traders individuals are a small fraction of this market and may only participate indirectly through brokers or banks.
The forex trading systems brokers listed below are not in any particular order. Aside providing this information, I am not involved with any of them in any way. I cannot guarantee their quality of service, professionalism, or anything else. I am sourcing info about them from their respective websites.
MoneyForex Financial Ltd. Our dealing software which specialized in forex dealing is rated second to none for it user friendly environment. Lightning speed and efficient execution is one of its many benefits. Marketiva is a financial services corporation specialized in providing traders with high quality online trading services. With a team of dedicated financial specialists and technical support personnel, Marketiva operates globally as a market maker and principal counterparty to retail traders.
Marketiva has established itself as an industry leader by relying on its groundbreaking internet trading platform and its superior customer service. Our mission — high quality of services, trust of our clients and reliability of our work. Most important of all — a winning attitude that always puts YOU first! Neuimex Direct Dealing S. A on BVI NDD is a worldwide operating financial services corporation specializing on supporting currency traders of each status of knowledge and experience with high quality online trading services successfully in the market since Deposit only].
IFC Markets is under jurisdiction of the Financial Services Commission FSC and conforms to its regulations and internationally accepted supervisory and regulatory standards. I went through over 25 forex trading platform websites and the above are the only ones I saw accept e-gold or e-bullion funds deposit. Foreign Currency trading carries a high degree of risk and may result in serious financial loss.
Foreign Currency trading is not suitable for everyone. Forex trading is risky, and should only be conducted with risk capital that the customer can afford to lose. Losses can exceed initial amount invested. Thanks For information what millions of money that can not be paid for you guys are real color of human being God himself well help to be fulfill in life Please Keep it up And I want to be one of your funs too Please You can mail am Nigeria too love you God bless Nigeria and you too!!!
You guys should not follow the links and site claiming they accept egold as mode of payment they are all scam you can read a review about all of the site that is on this page.. Some brokers are just out to take your money. The others I would agree with the above post — beware!
Thanks a million for the information provided here. Pls keep it up! I will however like to know where i can get e-bullion to fund my account. Thumbs up for u david et al. Thanks for the info, forexpeacearmy. But as you will know, in this business its all about your opinion and not others. E-buulion is one of te fastest and safset means on online money tranfer. I have tried without success to register with popular forex brokers as they do not accept applications from Nigerians.
Please do any one here know of any credible forex broker that accepts forex traders from Nigeria? Thank you in anticipations.
Vincent and the Grenadines. The brokerage firm also maintains offices in several jurisdictions such as Australia and South Africa. The broker is well known in the online trading community for suffering massive losses when the Swiss franc was unpegged from the US dollar in Having recovered from the crisis, FXCM today is focused on catering to the trading needs of both beginner traders and experienced traders. Users have access to a range of accounts including the Standard Account commission-free and Raw Account commission-based for MetaTrader users, both offering ECN pricing and maximum leverage of Users can also access Iress Accounts which are commission-based.
That specialization allows it to rise above many others when it comes to Forex focused trading platforms and tools. Leverage is available up to Spreads are competitive across all platforms with hour trading open 5 days per week. A free demo account is available.
Plus is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and Forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus supports complex trades, includes negative balance protection, and makes trading an educational and hopefully profitable venture.
You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to They also offer a demo trading account and Islamic swap-free account. Gold is a spot metal that is traded on commodity exchanges as well as on forex platforms as a CFD asset.
Gold is classified as a hard commodity, which is extracted from the ground. Gold is a tradable asset which is traded on contracts. Available contracts for gold trading include:. The primary market for gold trading is the futures market, located in the US and London. The gold futures market is traded round the clock, except for a one-hour break within each trading day when the open outcry markets shut down and the CBOT markets kick in.
Generally speaking, gold is traded mostly as spot contracts or futures contracts. The margin requirements for these trades on the exchanges are very high and are mostly out of the reach of retail traders. Retail traders are able to access gold trading via the forex platforms, which list the gold asset as a pairing against the USD or Euro.
In this form, gold is traded as a contract-for-difference instrument, which does not involve physical exchange of the asset. Gold prices are mainly impacted by the state of the financial markets. Gold is used as a safe haven for capital preservation when there is uncertainty in other markets.
How to Choose a Gold BrokerThe predominant factors which you must consider in choosing a gold broker are:. RegulationCertain regulations guide the trading of gold. The CFTC sets regulations on how retail participation in gold trading can be carried out, and sets out mandates for brokers on enforcement of same.
For instance, brokers are mandated to offer gold futures and options contracts at a leverage not exceeding This rule effectively locked out many traders from the platforms of US brokers. The contract specifications will differ from one region to another. Ensure you are able to select a broker that makes it affordable for you to trade gold.
Gold Trading PlatformsThe platforms that are offered for gold trading are also important. You will also see gold listed on brokerages that offer the ActTrader and JForex platforms, as well as the cTrader and the various mobile apps. Prior to , users of Currenex were unable to trade gold as a listed asset as this professional trading platform was solely dedicated to the trading of currency assets. The platforms on which gold CFDs can be traded have been identified.
EAs can be programmed for them using the various programming languages. Professional traders who trade with advanced platforms such as Currenex, LMAX and cTrader, have to opt for algorithmic trading software which is offered as part of the general package provided to traders. Gold Trading Account TypesGold can be traded in both directions: upwards or downwards. Some brokers know the inherent risks involved in trading of gold, and that is why they have come up with various strata of accounts to cater for different categories of traders.
Although each broker will present their own variety of trading accounts, there is a broad classification of gold trading account types into three:. Commissions and SpreadsGold trading on forex platforms is usually commission-free. However, gold is marked out from other assets as having the largest spreads of any asset on the forex platforms.
Some platforms offer gold with spreads of up to 80 pips. This, combined with the margin requirements, make gold more expensive to trade than the regular currency pairs. Traders who want to trade gold have to be prepared financially for it. The range of price movements can be very high. This sort of volatility is not what a trader should toy with.
ConclusionWe have a list of gold trading brokers for you. How did we come up with this list of brokers? Crypto Hub. Economic News. Expand Your Knowledge. Forex Brokers Filter. Trading tools. Macro Hub. Corona Virus. Stay Safe, Follow Guidance. World 59,, Confirmed. Fetching Location Data…. Get Widget. Best Gold Trading Brokers Advertising Disclosure Advertising Disclosure. This page may not include all available products, all companies or all services. FX Empire Editorial Board.
At FX Empire, we stick to strict standards of a review process. Learn about our review process. FX Empire may receive compensation. The brokers below represent the best brokers for gold trading. Scroll for more details. Your Capital is at Risk. No dealing desk, STP. MT4, xStation 5. Market Maker, STP. Your capital is at risk. MT4, MT5, Proprietary, webtrader. Dealing Desk, Market Maker. No dealing desk.
MT4, MT5. Sponsored Sponsored. Give it a try with some play money before using your own cash. Regulated By: FCA. Visit Broker Your Capital is at Risk. ATFX Review. Commission-free trading accounts available. Spread Betting and CFDs accounts available.
Impressive trader education resources. No access to MetaTrader 5 yet. XTB Review. Visit Broker Your capital is at risk. BDSwiss Review. Pls keep it up! I will however like to know where i can get e-bullion to fund my account. Thumbs up for u david et al. Thanks for the info, forexpeacearmy.
But as you will know, in this business its all about your opinion and not others. E-buulion is one of te fastest and safset means on online money tranfer. I have tried without success to register with popular forex brokers as they do not accept applications from Nigerians. Please do any one here know of any credible forex broker that accepts forex traders from Nigeria? Thank you in anticipations.
Both digital gold currencies have since experienced a sharp decline in popularity with e-bullion […]. This indeed is a good information about the traders accepting egolds. I was too looking for a trader who can accept egold. Things have changed a lot since when I wrote this blog post. It is unfortunate that e-gold has had serious problems with the US government which has resulted in a sharp decline in their use while e-bullion has been closed due to some legal problems with its owners.
The hottest digital gold currency on the web today is Liberty Reserve. Even Liberty Reserve has its own issues. People who want Fast income in short period they can surely go for it…. See i have one site that can be useful for you: onlineforexfuturestrading.
You are really knowing this job well, so i can get your help. Forex trading is scaring me, graphs, numbers etc. I hear something about automathic systems for trading, and i found goldexpertadvisor. Can i trust this? It seems to have a good liquidity and the negotiation for gold and forex is made on rising and on falling prices. Any information and input is highly appreciated. Many Thanks, Edgar.
Iam new in gold trading. I purchase this Expert Advisor one month ago i install with the full support of goldexpertadcisor. I gain the investing money of ea in first weak and after that my capital is going up and iam waiting for the double my money in this month end i belive it will make in two months as i see its progress and then i will withdraw my initial capital and rum this expert on my profit.
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|Vests to dress women catalogue||The middle line is a day simple e-gold forex brokers average SMA and is used to calculate the value of the upper and lower bands. Please do any one here know of any credible forex broker that accepts forex traders from Nigeria? Access the fastest and most secure trading platform in the world, MetaTrader, for Web, Windows, Mac, iOS and Android operating systems so you can trade on the go. Numerous investors with opposing and diverse interests are often attracted to gold. This will be demonstrated in more detail in the trading strategy section further down the article. AvaTrade also offer mobile apps for Android and iOS. Best Gold Trading Brokers|
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Write a review about your broker This will help other traders to know in advance about advantages and disadvantages of the company, as well as compel brokers to provide better services for all of us. Thank you, Team of Topbrokers. COM best broker. Vantage FX. IC Markets. AAFX Trading. Cash bonuses are credited to your balance after the requirements are met.
Hantec Markets. IFC Markets. Dukascopy Bank SA. Fort Financial Service. No doubt that more funds on your account means, more profit from trading is available for you. Interactive Brokers. It is a must that you trade with a regulated broker. The regulatory authorities keep an eye on the financial strength and integrity of the broker.
The best gold trading broker will always offer multiple trading platforms that are capable of enabling you to trade irrespective of your level of experience. Such brokers offer demo accounts which will be of great help to you if you are a beginning trader.
You can also get your feet steady by gaining some valuable experience before you venture to start using the faster and more advanced trading platforms. Multiple platforms also afford a great deal of flexibility and you can choose one that suits your needs and risk appetite the best. The best gold brokers will always provide the technological support and tools needed to help you have a great trading experience.
As regards technology, the broker should make available to you apps that are suitable for your mobile device if you are a person who is always on the go. This is will help you to access the trading platform from wherever you are on your Android or Apple smartphone, tablet, etc. It is needless to say that the platforms designed for mobile devices should be the same as those created for personal or desktop computers.
In addition, the trading platforms should make available tools required for trading such as news feed, technical analysis capability, pip calculator, margin calculator, etc. Some brokers provide a dashboard to help you quickly know the status of pending orders so that you can make trade with minimum number of clicks. Another important aspect that you need to take into consideration is the services offered by the gold broker.
There are different types of brokers: full services online forex brokers who offer overseas trading and highest level of customer support and discount brokers. The latter type may be cheaper compared to the former type, but they do not extend the required level of support. Therefore, you need to choose the right gold trading broker based on your specific requirements.
In this connection, it is also important to look at aspects such as the minimum deposit to be made into your account to start trading, trade size, leverage, margin requirements, the currency options available for operating your account, methods available for transfer of funds into your trading account and ease of withdrawal of money from your account when choosing the best gold trading broker. Investment opportunities made available by the online gold broker is one of the key aspects that you need to consider.
Best gold brokers would provide several different options for investing in the precious metal. You should be able to directly buy gold or invest in exchange traded funds ETFs , mutual funds, etc. This is very important because options allow you to diversify your portfolio and maximize your earnings from the investments. Online gold trading brokers make money either by charging commissions on transactions or through spreads offered by them. It is important that you compare the rates offered by the online gold trading brokers whose name you have shortlisted on the basis of other factors.
There are several websites that allow you to compare the fee charged by different gold brokers.