Trading GOLD

I’m using FXOpen to generate my signals, and today there were a number of GOLD trades opened, but C2 kicks back an “Invalid Symbol” error. Is it possible to have C2 recognize “GOLD” as analogous to “XAUUSD”?

no response… i guess i’m on my own here.

Hi, Eddy -

Sorry. U.S. regulations do not allow retail forex traders to trade gold in forex accounts. We do not support it. However, you can use gold futures contracts, which are allowed in the U.S.

Thanks for your response, however, i do not think you understood my question. Just to try it, i went ahead and placed a manual order for XAUUSD (gold) for 1 C2 unit, which by the way turned out to be much larger than i expected and resulted in a large loss. So i know that this instrument is tradeable on C2 forex accounts.

It appears that I’ll have to come up with a way to translate what FXOpen calls “GOLD” into what most other brokers (and C2) call XAUUSD. This, however, will still not allow me effectively trade it on C2 unless either fractional C2 units are available for gold, or the lot size is adjusted in C2.

To give you an idea, a standard lot for XAUUSD, or GOLD is 100 troy oz. Being that C2 units are 0.1 standard lots, one C2 unit for XAUUSD should be 10 troy oz. Instead, in my test trade I wound up trading 10,000 troy oz unbeknownst to me, resulting in a $7,000 loss for just the bid/ask spread.

You might want to fix this.