Start with the fundamentals, then put them to work with the free calculators.
FxPro offers gold with competitive spreads, MT4/MT5 and Local NGN bank transfers, Visa/Mastercard debit cards, e-payments, crypto-friendly funding for traders in Nigeria.
Trade gold on FxPro →Start with the mechanics, not signals: what XAU/USD is, that one standard lot is 100 oz and one pip is 0.01, and how margin works. Then learn how to size a position with the position size calculator and how to read a loss in naira. Strategy comes after you can price a trade correctly.
That depends on the lot size you intend to trade and the margin your broker requires, not on a fixed entry figure. Work backwards: decide the risk per trade in naira, convert it to dollars, then use the position size calculator to see which lot size fits. Never size a trade from your account balance alone.
No. XAU/USD is a leveraged contract on the gold price, so you never take delivery of metal and you can lose more than you put in if a position moves against you. Physical gold bought in naira is an outright purchase with no margin call. They are different instruments with different risks.
Trade a demo account until you can size a position, place a stop and calculate the naira value of a pip without hesitating. Log every trade with the reason you entered and the risk in dollars. Demo results are not evidence of future profit, but they expose gaps in your mechanics cheaply.
FxPro publishes support for MT4, MT5, cTrader and FxPro Edge, so you will choose among those. All four show XAU/USD quotes and let you place stops, but the layouts differ. Learn one platform thoroughly rather than switching, and confirm the account type and entity before you fund it.
