Trade gold with FxPro

Platforms for gold trading

FxPro supports gold trading on MetaTrader 4, MetaTrader 5, cTrader and the FxPro app. MT4 is the industry standard for forex and gold, with a huge library of expert advisors and indicators. MT5 offers more timeframes, an economic calendar and faster backtesting. cTrader is known for its modern interface and advanced order types.

All platforms give you access to live gold prices, charting tools and one-click trading. You can set stop-loss and take-profit orders directly on the chart and monitor your margin in real time. The FxPro app lets you trade from your phone, which is useful for Australian traders who want to check positions during the London and New York sessions.

Funding from Australia and account types

Australian residents can fund their FxPro account using PayID or bank transfer. PayID is the fastest method, with funds often arriving within minutes, while bank transfers may take one to three business days depending on your bank. FxPro does not charge deposit fees, but your bank may charge a transfer fee.

FxPro offers several account types, including standard and raw spread accounts. The main difference is the cost structure: standard accounts have a higher spread but no commission, while raw spread accounts have a lower spread and a commission per lot. Which one is cheaper depends on your trading style and volume, so you should compare the all-in cost before choosing.

Risk and regulation note

FxPro is licensed by the Financial Conduct Authority in the UK and the Cyprus Securities and Exchange Commission. It does not hold an Australian Securities and Investments Commission licence, so Australian residents deal with an offshore entity — specifically FxPro UK Limited. This means you are not protected by Australian financial services laws, and you should carefully read the legal documents before opening an account.

Trading gold on margin carries a high level of risk. You can lose more than your initial deposit, and prices can gap through your stop-loss in fast markets. The maximum leverage available is 1:200, but using maximum leverage increases the chance of a margin call. Never trade with money you cannot afford to lose.

How to open and fund an account

To open an account with FxPro, go to the FxPro website and click on the registration button. You will need to provide your personal details, proof of identity and proof of address. The verification process usually takes a few minutes to a few hours. Once verified, you can log in to the FxPro Direct portal and open a live trading account.

To fund your account from Australia, choose PayID or bank transfer in the deposit section. Enter the amount in Australian dollars, and the funds will be converted to your account’s base currency, usually US dollars for gold trading. After the deposit is credited, you can download MT4, MT5 or cTrader and start trading gold.

The trading entity behind your account and what it means for your protections

Your gold trades with Ballarat Desk are executed through FxPro UK Limited, the entity that serves Australian clients. This means your account is governed by the UK Financial Conduct Authority (FCA) rules rather than ASIC, so the protections differ from a locally regulated broker. FxPro does not hold an ASIC licence, and Australian residents deal with an offshore entity — check this before funding.

Because FxPro UK Limited is FCA-regulated, you have access to the Financial Services Compensation Scheme (FSCS) only if you are eligible, but as an Australian client your eligibility depends on the classification FxPro assigns you. This is not a guarantee, and the exact coverage depends on your client category and the circumstances of any claim.

The practical implication for Australian gold traders is that disputes and complaints are handled under UK rules, not Australian law. You will not have access to the Australian Financial Complaints Authority for this account, and any legal action would involve UK jurisdiction. Verify the entity on the FCA register before you deposit funds.

How your account type changes what a gold trade costs

The account type you choose with FxPro does not change the spread on gold, because Ballarat Desk does not publish a specific spread figure and the cost depends on the account type you select. Each account type has a different pricing model — some may have a markup on the raw spread, others may charge a commission per lot, and the exact numbers are set by FxPro, not Ballarat Desk.

Your total cost per trade on XAU/USD consists of the spread, any commission, and overnight swap if held past rollover, and these components vary by account type. A standard account typically has no separate commission but a wider spread, while a raw or ECN-style account has a tighter spread but a commission per lot, and the exact amounts depend on FxPro's current schedule.

To work out the cost before placing a trade, you must check the contract specifications for your specific account type in the trading platform, because the cost is not a fixed number and depends on the account type, the time of day, and market volatility. Never assume that one account type is always cheaper for gold — calculate the total cost for your position size and holding period.

What the four trading platforms differ in for gold execution

The four platforms — MT4, MT5, cTrader, and the FxPro app — differ in their order execution models and depth of market for gold, and this affects how your trades are filled. MT4 uses a single-threaded execution with no built-in depth of market, while MT5 adds a depth-of-market view and more order types, and cTrader offers full market depth and a more transparent execution.

The platform you choose changes how you manage risk on a gold position, because each one has different tools for stop-loss and take-profit. MT4 and MT5 support standard stop orders, but cTrader adds advanced protection like guaranteed stops on some account types, and the FxPro app is designed for mobile management with fewer charting tools but quick order entry.

The differences also affect your margin calculations and position sizing, because each platform displays margin requirements differently. On all platforms, a 0.10-lot gold position needs about $85.50 margin at 1:200 leverage, but the way you see this before placing the trade varies — MT4 shows it in the order window, cTrader calculates it live, and the app gives a simplified view.

Verifying the FCA licence on the regulator's own register in four steps

To verify that FxPro UK Limited is genuinely FCA-regulated, go to the FCA register at register.fca.org.uk and search for the firm by name or reference number. The FCA register is the only authoritative source for the firm's permission, and you should never rely on a broker's own website or a third-party review for this information.

The first step is to open the FCA register and type FxPro UK Limited into the search field, then select the firm from the results. The second step is to note the firm reference number (FRN) and the status, which should be Authorised, and the third step is to check the permissions tab to confirm the firm can hold client money and deal in investments.

The final step is to confirm that FxPro UK Limited is the entity named in your account agreement, because FxPro operates several entities under the same brand and only the UK entity is relevant to Australian clients. If your agreement names a different entity, such as FxPro Financial Services Limited, then your protections are different and you should clarify this before funding.

Checking the exact trading conditions for gold before you place a trade

Before you place a gold trade, you must check the contract specifications in your platform for the exact spread, commission, and swap on XAU/USD, because these numbers are not published on Ballarat Desk and depend on the account type and market conditions. The specification window shows the current spread and the swap rates for long and short positions, and these change throughout the day.

The margin required for your position depends on the leverage you have selected, up to the 1:200 cap available in Australia, and the current price of gold. At a reference price of 4275.0, a 0.10-lot position needs about $85.50 margin at 1:200 leverage, but if you choose lower leverage the margin increases proportionally, and you should never trade at the maximum leverage unless you fully understand the risk.

Your cost per trade also depends on the lot size, because one standard lot of gold is 100 ounces and each pip movement of 0.01 is worth $1 on a standard lot. For smaller positions, the pip value scales down, and the spread cost is the spread in pips multiplied by the pip value for your lot size. Work this out exactly before you enter the trade, because a small difference in spread or commission can change your breakeven point.

Which FxPro entity services Australian gold traders and what that means for your protections

FxPro UK Limited is the entity that serves Australia, and that single fact changes the nature of your client protections. When you open a gold trading account from Australia, your counterparty is a UK firm authorised and regulated by the Financial Conduct Authority (FCA), not an ASIC-licensed broker. This means your account falls under UK rules, including the Financial Services Compensation Scheme (FSCS) up to £85,000 for eligible claims, but you do not have access to the Australian Financial Complaints Authority (AFCA) for dispute resolution. Before funding, confirm in writing that your account is indeed with FxPro UK Limited, because some offshore entities within the group may have different client money rules.

Your margin and leverage terms also trace back to the UK entity, not to any Australian licence. FxPro UK Limited can offer leverage up to 1:200 on gold, which is higher than the 1:30 cap that would apply if it were regulated by ASIC for retail clients. That higher leverage is a direct consequence of the UK entity's regulatory framework, and it cuts both ways: it reduces the margin needed for a 0.10 lot gold position to about A$85.50 at a reference price of 4275.0, but it also magnifies losses in exactly the same proportion. Australian traders who want the 1:200 cap must actively select it in their account settings; it is never applied automatically.

Client money segregation is another protection that depends on the entity. FxPro UK Limited must hold client funds in segregated accounts with approved banks, separate from its own operating capital, under FCA client money rules. That is a meaningful safeguard if the broker becomes insolvent, but it does not protect you from trading losses. Gold is a volatile instrument, and a move of just one pip on a standard lot is US$1.00, so a position can swing hundreds of dollars in minutes. Verify the segregation statement on your account documents and keep records of every deposit made via PayID or bank transfer, as those records are your first line of defence in any dispute.

How your FxPro account type changes what a gold trade costs you

The account type you choose determines whether the cost of a gold trade is built into the spread or charged as a separate commission. FxPro offers multiple account types, and while the specific spread and commission values depend on the account, the structure is consistent: Standard and similar accounts embed the broker's charge in the spread, so you see one price to buy and a different, worse price to sell, while raw-spread accounts show a near-market spread but add a commission per lot traded. For gold, that commission is typically quoted per 100 oz lot or per 0.10 lot, and it is charged on both entry and exit, so the total cost of a round trip is twice the stated per-side figure.

Your choice of account type also affects the minimum trade size and the margin calculation, which changes the practical cost of holding a position. A 0.10 lot gold trade at 1:200 requires about A$85.50 in margin, but that margin is not a cost; it is a deposit that returns to your account when the trade closes, provided the trade did not hit a stop-out. The real cost is the spread or commission plus any overnight swap, and the swap depends on the interest rate differential between the US dollar and gold, the direction of your position, and the day of the week. Swap is applied at the end of each trading day, and on Wednesday it is typically tripled to cover the weekend, so a position held from Wednesday to Thursday incurs three days of swap.

Switching account types for a single gold trade is rarely worth the effort unless your trading volume is high, because the cost difference between a spread-only account and a raw-spread plus commission account depends on the exact spread you receive and the commission per lot. Without those specific numbers, the only safe way to compare is to open two demo accounts, place identical 0.10 lot gold trades at the same moment, and record the entry and exit prices on each. That gives you the effective cost in A$ terms, including the pip value of US$0.10 per 0.01 pip move on a 0.10 lot, and lets you decide which account type is cheaper for the trade size and holding period you actually use.

What the four FxPro platforms differ in for gold execution

MT4, MT5, cTrader, and the FxPro app differ mainly in how they handle order types, charting, and the visibility of gold market depth. MT4 is the most familiar to Australian gold traders and supports market, limit, stop, and trailing stop orders, but it shows only the best bid and ask prices, not the full order book. MT5 adds depth of market (DOM) for gold, so you can see multiple price levels and the volume resting at each, which is useful when you want to place a limit order at a specific price like 4275.0 and need to know how many lots are ahead of you. cTrader is built around a central order book and gives the most transparent view of liquidity, but it uses a different order naming convention that can confuse traders moving from MT4.

The platform you choose also changes how you calculate and verify the exact numbers on a gold trade. On MT4, the pip value for a 0.10 lot is fixed at US$0.10 per 0.01 move, and the margin requirement is shown in the terminal, but you must manually convert that to A$ if your account is denominated in AUD. MT5 shows margin, swap, and profit in the account currency automatically, which removes one source of error. cTrader goes further by displaying the commission per lot in the deal ticket before you click buy or sell, so you know the exact cost in advance. The FxPro app is a simplified version of MT4 or cTrader, depending on your account, and it is designed for monitoring and quick trades rather than precise pre-trade cost checks.

Execution speed and order fills on gold are not the same across all four platforms, and the difference matters when the price is moving quickly. MT4 processes orders through the broker's server with a typical execution time that depends on your internet connection and the server location, but it does not show you the latency. MT5 and cTrader both have a built-in depth of market and one-click trading, which can reduce the time between decision and execution. The FxPro app may have additional latency because it routes through your mobile network. Before relying on fast execution for a gold scalp, test each platform on a demo account during a volatile session, placing a 0.10 lot market order and recording the time from click to fill, then compare that to the price change in pips over the same interval.

Verifying FxPro's FCA licence on the regulator's own register in four steps

The first step to verify FxPro's licence is to go directly to the FCA Register at register.fca.org.uk, not through a link on the broker's website. Type 'FxPro' into the firm search box and press enter. The register will show all FxPro entities that hold an FCA authorisation, and you must identify the one that is your counterparty: FxPro UK Limited. Its FCA reference number is 509956, and you should note this number because it is the key to pulling up the correct firm record. Do not rely on a screenshot or a partner website; the FCA register is the only authoritative source, and it is updated daily with any changes to permissions or status.

Second, open the firm's record and check the 'Permissions' tab. For FxPro UK Limited, the register will show that it is authorised to deal in investments as principal and agent, which covers gold CFDs, and that it can hold client money. The permission must be 'live' and not 'applied for' or 'cancelled'. Also look at the 'Passport' section: FxPro UK Limited may have a passport to provide services in Australia, but a passport is not the same as an ASIC licence. If the register shows no passport for Australia, that does not mean the broker is unauthorised; it means the broker relies on the UK authorisation and Australia's treatment of offshore firms, which is a separate question you must clarify with the broker.

Third, check the 'Contact details' and 'Trading names' on the FCA record. The registered address for FxPro UK Limited should match the address on your account opening documents, and the trading names should include 'FxPro' but not any unrelated brands. If your account statement or welcome email shows a different legal entity, such as FxPro Financial Services Limited, you are dealing with a different regulator (CySEC) and different protections, so stop and request a transfer to the UK entity if that is what you intended. Fourth, verify the date the firm was authorised and any disciplinary history by scrolling to the 'Regulatory actions' section, which must be empty for a clean record, and then save a PDF of the FCA register page for your files before funding via PayID or bank transfer.

FxPro is licensed by the FCA (UK) and CySEC. It does not hold an ASIC licence, so Australian residents deal with an offshore entity — check this before funding. Trading gold involves significant risk and can result in losses exceeding your deposit.