How do I find XAU/USD on the MT4 app?

Open the MT4 app and tap on the quotes tab. Scroll through the list or use the search icon and type XAUUSD. If it is not showing, tap the plus sign and add it from the full symbol list. You can also add it to your favourites by long-pressing the symbol. The price is shown in US dollars per ounce.

What lot size should I use for my first gold trade on my phone?

It depends on your account balance and risk tolerance. A standard lot is 100 ounces, so even a small price move can mean a large profit or loss. For a phone trader, starting with a micro lot (0.01) is common. Use our position size calculator to see how much you would risk per pip. Never risk more than you can afford to lose on one trade.

How do I set a stop loss on gold in the FxPro app?

When you open a new order, you will see fields for stop loss and take profit. Enter the price level where you want to exit if the market goes against you. You can also modify an open trade by tapping and holding it, then selecting modify. On a phone, use the plus and minus buttons to adjust the price precisely.

Can I trade gold on the cTrader app from my phone?

Yes, FxPro supports cTrader, and the mobile app has the same XAU/USD symbol. The interface is different from MT4, but you can search for gold and place orders. One advantage is the detailed charting on a smaller screen. The order ticket shows the pip value in your account currency, which helps you size your trade correctly.

What is the pip value for gold if I trade 0.10 lots?

For gold, one pip is 0.01, and one standard lot is 100 ounces. So a 0.10 lot is 10 ounces. The pip value is the change in price times the ounces. If gold moves 0.01, your profit or loss is 0.01 x 10 = $0.10. If the price moves $1.00, that is 100 pips, and your P&L would be $10. Use our pip value calculator to check for your lot size.

Trade Gold on FxPro MT4/MT5

Finding XAU/USD in the Terminal

Open MT4 or MT5 on your phone, tap the quotes panel, and type XAUUSD in the search bar. Gold is listed under metals, and the symbol is the same across MT4, MT5, cTrader and FxPro Edge, so there is no confusion.

One standard lot is 100 ounces, and one pip is 0.01, so a move from 4275.0 to 4276.0 is one pip. At the reference price of 4275.0, a 0.10-lot position controls 10 ounces and moves $1 per pip.

Sizing the Order with Our Calculators

Before you tap buy or sell, open our position size calculator and enter your account balance, risk percentage, and stop loss distance. It gives you the lot size that keeps a losing trade within your risk, so you do not guess on the phone.

The margin calculator shows how much of your balance is locked for the trade. At 1:200 leverage, a 0.10-lot gold position needs about $85.50 margin, but your leverage may be lower, so check the number for your own account.

Setting the Exit with the Entry

Place the stop loss and take profit in the same order ticket as the entry, not after. In MT4 or MT5, tap the order screen, set the lot size, then set the stop loss and take profit in dollars or pips before you confirm.

Use our pip value calculator to know what a stop loss means in naira. If you risk 20 pips on 0.10 lots, that is $20, and with conversion it may be over ₦30,000, so set the stop where the trade is wrong, not where the loss feels acceptable.

Why You See Multiple XAU/USD Symbols in the Terminal

You see multiple XAU/USD symbols because the platform often lists separate contracts for spot gold, futures gold, and sometimes a mini or micro variant, each with a different suffix such as XAUUSD, XAUUSD.m, or GOLD. The core price tracks the same underlying ounce of gold, but each symbol can have its own contract size, trading hours, and swap treatment. On a phone screen this is easy to misread, so before you tap Buy or Sell, confirm the symbol you are on matches the contract you sized in your plan.

Spot gold is the symbol you want for the standard 100 oz contract, and it is usually shown as XAUUSD with no suffix. A symbol ending in a lower-case m or a word like mini is a smaller contract, often 10 oz, and a symbol with a month and year, such as XAUUSD.AUG25, is a futures contract that expires. The pip value and margin you calculated for one standard lot will not apply to those other symbols, so checking the suffix is a genuine risk step, not a formality.

The reason there may be several is partly technical and partly commercial: the platform mirrors the liquidity providers’ feeds, and those providers often send both the spot symbol and a forward or futures curve. Some brokers also offer a separate gold symbol for swap-free accounts or for a different execution model. On Lagos Bullion, the reference price is around 4275.0 for the standard XAU/USD, but that price does not transfer automatically to every symbol in the list.

What One Standard Lot of Gold Actually Controls

One standard lot of gold controls 100 troy ounces, so when the XAU/USD price moves by one full dollar, your position changes by $100. The price is quoted to two decimal places, and the smallest movement, 0.01, is one pip, which equals $1.00 on one standard lot. This is the arithmetic you need on a phone when you are checking whether a stop distance of 2.50 is a $250 risk or a $25 risk on the position you are about to open.

The 100 oz contract size is fixed by the symbol, not by your account currency, so if your account is in naira, the dollar value of each pip is converted at the platform’s prevailing rate. That conversion means the naira amount of a one-pip move changes slightly with the USD/NGN rate, but the underlying 100 oz and the $1.00 per pip on a standard lot stay constant. Your risk in naira is therefore the dollar risk multiplied by the current exchange rate, and you should check that number before you commit leverage.

Because one lot is 100 oz, the notional value at a price of 4275.0 is $427,500, which is why leverage is a cap and not a target. At the maximum leverage available in Nigeria through the offshore entity, up to 1:200, a 0.10 lot position needs about $85.50 margin, but a full one lot would need roughly $2,137.50. The contract size never changes, so your position size decision should be driven by the stop distance and your agreed naira risk, not by how much margin the platform will let you use.

Placing the Stop Loss in the Same Order Ticket as the Entry

You set the stop loss at the moment of entry because the order ticket on MT4, MT5, cTrader, and FxPro Edge has a dedicated field for it, and filling that field before you hit Buy or Sell means the stop is active from the first tick. On a phone, this is the single most important habit: you are often away from a desk when the trade triggers, and a market that gaps against you will not wait for you to come back and place a protective order.

The stop field sits directly below the volume field in the order window, and you can type the exact price or drag the line on the chart if the platform supports it. The price you enter must be on the correct side of the current market: below for a buy, above for a sell, and far enough away that normal volatility does not knock you out before the trade has room. There is no default stop, so leaving the field at zero means your position is unprotected until you act again, which is exactly the risk a mobile trader should avoid.

Putting the stop in the same ticket also forces you to reconcile the stop distance with your position size before the order is live, because the platform will show the potential loss in the account currency if you have the profit and loss display enabled. If the loss is larger than your plan allows, you reduce the volume, not widen the stop. That one screen is where the entry, the stop, and the size all meet, and a phone trader who masters it has already removed the most common cause of oversized losses.

An order ticket, field by field. Three of them decide the risk before you click.

Reading the Swap Column for a Gold Position Held Overnight

The swap line on your open position is the interest adjustment applied when you hold a gold trade past the platform’s rollover time, and it is shown as a per-lot amount in the account currency, either positive or negative. For XAU/USD, the swap reflects the difference between the interest rates implied in the two currencies plus the broker’s own overnight funding charge, so it is not a fixed number and it changes with market conditions. You see the actual charge or credit in the Swap column of the terminal before the position rolls.

Whether you pay or receive swap depends on the direction of your trade and the current interest rate differential, not on the size of your unrealized profit. A long gold position will usually incur a negative swap when dollar rates are higher, because you are effectively borrowing dollars to hold gold, but a short position may earn a credit or may also be negative after the broker’s fee. The platform shows the swap rate in the contract specification for the exact symbol you are trading, and that rate is quoted in points or in currency per lot, so you must convert it to naira if your account is in naira.

A position held over a weekend is charged or credited three times the normal daily swap, typically on Wednesday, because the value date skips from Wednesday to Monday. That means a trade you open on Tuesday afternoon and close on Thursday morning can incur several days of swap even though you only held it for two calendar days. On a phone, you can check the swap value by opening the trade details and looking at the Swap line, and it is worth doing before you decide to keep a gold position open overnight.

Pick the XAUUSD Symbol That Matches Your Timeframe, Not the First One You See

Your terminal can show several XAUUSD lines because each one is a different market snapshot, not a different instrument. One symbol is the live spot price, another may be a CFD that tracks the same ounce, and a third can be a futures contract with a set expiry. For a phone trader checking gold between meetings, the live spot symbol is the one to trade on MT4 or MT5, so the price you tap is the price you act on.

The symbol you choose also decides the swap you pay if the trade stays open past 5pm New York time. A spot XAUUSD symbol from FxPro carries an overnight rate, while a futures symbol rolls into a new contract and may show a different cost. Check the symbol name in the watchlist: the spot is usually labelled XAUUSD without a month or year, and that is the one to size and set stops on.

If you see XAUUSD and XAUUSD.m or XAUUSD+, those are the same market shown through different feed types or account settings, not extra gold. On a small screen, pin only the symbol you trade so the chart does not crowd out the order ticket. The price around 4275.0 is the reference for one ounce, and every symbol quoting that same number is the same gold market.

One Standard Lot of XAUUSD is 100 Ounces, So Each Pip is Worth $1 on a Full Lot

A standard lot in gold is 100 ounces, which means a one-pip move of 0.01 moves your account by $1 when you trade one full lot. On a phone, that number matters because a 100-ounce position can wipe a small Naira deposit in minutes. The contract size never changes with your account currency, so a trader funding in NGN must convert every dollar move back to Naira to feel the real risk.

The reference price near 4275.0 means one standard lot controls about $427,500 of gold, which is why leverage is a cap and not a target. You do not need to hold that full amount, but the margin required depends on the leverage your entity gives you. At the offshore cap of 1:200, a 0.10-lot position needs about $85.50 margin, which is still a large sum in Naira terms.

Because one pip on a standard lot is $1, a 100-pip move against you is a $100 loss before spreads or swaps. Phone traders often choose 0.01 or 0.10 lots to keep each pip at $0.01 or $0.10, so a normal gold swing does not trigger a margin call. Always check the contract size in the order window before you confirm, because the number of ounces is fixed and the only thing you control is the lot size.

Set the Stop Loss in the Same Order Ticket as the Entry, Never as an Afterthought

You place the stop at the moment you enter because the order ticket on MT4 and MT5 has a stop loss field right next to the volume, and a phone trade without it is a naked risk. Gold can gap over weekends or during news, and if you wait to add a stop after the position is live, the price may already be far from your entry. A stop set with the entry locks the maximum loss before the market moves.

The stop price you type must be a level where the trade idea is wrong, not a random number of pips away. For a buy at 4275.0, a stop below the last swing low is a real invalidation point, while a stop 50 pips away is just a guess. On a small screen, use the one-cancels-other bracket on cTrader or the stop field on MT5 to attach the stop before you slide the buy button.

The stop loss order itself costs nothing to place, and it does not reduce the spread you pay on entry. What changes is the margin you need, because a wider stop means a larger potential loss per lot, so the platform may require more free margin. For a 0.10-lot gold position, a stop 100 pips away risks $100, while a stop 20 pips away risks $20, and that difference shows up in the margin indicator on your phone.

checked 2026-07-09 · fxscouts.ng/broker/fxpro; forextrading.ng/best-forex-brokers; fxpro.com/about/licences

Finding XAU/USD, Sizing the Order, and Setting the Exit in FxPro