How to Trade Gold for Beginners — Nigeria
A step-by-step start on gold (XAU/USD) as a CFD with Exness — what one lot is worth, how to size a first position and what it costs to hold it overnight.
Open Exness Account →Spreads may fluctuate and widen depending on liquidity, news and market conditions. Same London–New York hours, both feeds in $ per ounce.
A beginner trades gold at Exness as a CFD on XAU/USD: open an account, practise the mechanics on a demo first, then size the position from the amount at risk rather than from the lot size. One lot is 100 ounces, so each $1 move in gold is worth about $100 per lot and the smallest step is 0.01 lots. Gold trades around the clock from Monday to Friday and reacts to interest rates, inflation data and the dollar, and any position left open past the daily rollover pays or receives a swap unless the account is swap-free.
Measured: the gold spread on a Standard account
Across the same London–New York hours, the measured XAU/USD spread on an Exness Standard account was $0.24 per ounce, against $0.57 on an independent interbank reference feed — about 58% tighter. This is a live measurement, re-taken on a schedule (latest reading 2026-07-28), and this block is shown only while the measured spread stays below the reference.
Spreads may fluctuate and widen depending on liquidity, news and market conditions.
Full numbers: live spreads · trading costs · spread stability.
Gold trading for beginners, step by step
- Gold trades at Exness as a CFD on spot XAU/USD, so a position tracks the gold price in both directions and no physical metal changes hands.
- One standard lot of XAU/USD is 100 ounces, so a $1 move in the gold price is worth about $100 per lot; the smallest trade size is 0.01 lots.
- A beginner can start on a demo account: the same XAU/USD instrument and the same platform, with virtual funds instead of real money.
- Position size comes before entry — decide the amount at risk, set the stop-loss distance in dollars per ounce, then work back to the lot size with the margin calculator.
- Gold trades around 24 hours a day from Monday to Friday and reacts to interest-rate decisions, inflation data and moves in the dollar.
- Leverage is available to verified clients (conditions apply) and works both ways: it lowers the margin required and enlarges both gains and losses.
- A gold position still open after the daily rollover pays or receives an overnight swap, unless the account is swap-free (Islamic).
What a gold move is worth by trade size
| Trade size | Ounces | Value of a $1 move | Value of a $0.10 move |
|---|---|---|---|
| 0.01 lots | 1 oz | about $1 | about $0.10 |
| 0.10 lots | 10 oz | No minimum | about $1 |
| 1.00 lot | 100 oz | about $100 | No minimum |