Terms of use

Educational material, not advice

Everything on this site is educational material about gold (XAU/USD) and is not personal advice, a recommendation or an offer to buy or sell any instrument. The desk does not know your finances, your goals or your tolerance for loss, so no page can tell you what to do with your money. Any decision to trade is yours and yours alone.

Reading a page here does not create an advisory relationship of any kind. If you need advice tailored to your circumstances, speak to someone licensed to give it, and check that person or firm on the SEC Nigeria register of capital market operators.

Limits of Liability in Plain Words

Benue Rules is provided as-is, and to the extent the law allows, the site accepts no liability for trading losses, missed opportunities, or decisions taken after reading its material. Gold CFDs are high-risk instruments: a 100 oz standard lot moves $1 for every 0.01 pip, so a small adverse move in XAU/USD can produce a large change in account equity. If you trade at up to 1:200 via the offshore entity, losses can arrive faster than at lower leverage. You are responsible for your own risk controls, including stop-losses and position size.

The site does not warrant that every figure is current or that every external link still resolves to the page described. Reference prices, such as the 4275.0 level used in examples, move constantly, and margin requirements depend on the broker's contract specifications at the moment you trade. If a calculation here disagrees with your platform, your platform and the broker's client agreement govern. Benue Rules is not liable for delays, outages, or errors at any broker, payment provider, or platform, including MT4, MT5, cTrader and FxPro Edge.

Nothing on this site excludes or limits liability that cannot lawfully be excluded, including liability for fraud or for death or personal injury caused by negligence. Where a jurisdiction does not permit some part of this limitation, that part is read down to the minimum permitted and the rest continues to apply. In practice, the plain position is that you trade your own account, you bear your own losses, and Benue Rules supplies explanation rather than execution, custody, or advice. Keep records of your own trades and read the broker's client agreement before depositing naira via bank transfer or card.

The Law That Applies to These Terms

These terms are governed by the laws of the Federal Republic of Nigeria, and disputes are intended for the Nigerian courts, without regard to conflict-of-law rules. That choice matters because the reader is in Nigeria, funding in naira through local bank transfers, debit cards, e-payments or crypto, and the local authority for capital market operators is the SEC Nigeria. Nothing in this choice of law removes any protection you have under mandatory Nigerian consumer law. If you access the site from elsewhere, you do so on your own initiative and are responsible for local compliance.

The regulatory position is layered. FxPro is licensed by the FCA in the UK, by CySEC and by the FSCA, while the entity that serves Nigeria is FxPro Markets Direct Costa Rica Latam SRL. Benue Rules does not itself hold a Nigerian licence and does not claim one. Before dealing with any firm, confirm the broker on the SEC Nigeria register of capital market operators. The site's own content is educational, and the applicable law for that content is Nigerian law as described here, not the law of the broker's home jurisdiction.

Where a dispute arises about these terms, the first step is to write to the site with the specific section and the facts in dispute. Nigerian law applies to that correspondence and to any later claim. If you have a dispute with a broker rather than with Benue Rules, Nigerian law may not be the governing law of your client agreement, so read that agreement to see which courts and which regulator are named. The SEC Nigeria register is the starting point for checking whether a firm is authorised to operate in the Nigerian capital market.

Dated figures and affiliate links

Every figure on this site is dated and must be verified with the broker before you rely on it. Costs are described by what they consist of and what they depend on, not published as numbers we were not given, so read the broker's own contract specifications for the current spread, commission, swap and minimum deposit on the day you trade. Conditions change, and the broker's document beats this page every time.

Some links on the site are affiliate links, which means the desk may be paid a referral fee if you open an account through one. That does not change what you pay the broker, and it never buys a rating. Your relationship is with the broker, not with this desk: the account, the funds, the withdrawal and any dispute are between you and the broker. For any broker you consider, confirm it on the SEC Nigeria register of capital market operators; FxPro itself is licensed by the FCA (UK), CySEC and FSCA.

The risk in gold CFDs

CFDs on gold carry a high risk of loss and most retail accounts lose money. Leverage, including a cap of up to 1:200 via the offshore entity, magnifies both gains and losses, and a position can move against you faster than you expect. One standard lot is 100 oz and one pip is 0.01, so a small price move on a large position is a large change in your balance.

Never trade with money you cannot afford to lose, and treat any margin figure, including the worked example of about $85.50 for a 0.10-lot position at that cap, as an illustration rather than a promise of what your account will require. The live requirement is set by the broker on the day.

How Changes to These Terms Are Published

Changes to these terms are published on this page, and the revised text replaces the previous version when it goes live. There is no separate notice by email and no account to log into, so the page itself is the record. Each change is written as a full replacement of the affected section rather than a silent edit, so a reader can compare the current wording with what they remember. The terms cover the site's educational role, the affiliate relationship, liability, and the governing law, and any change is confined to those subjects.

The timing of a change depends on what prompts it. A correction to a factual statement, such as the margin illustration for a 0.10-lot gold position, is published as soon as the error is confirmed. A change in the regulatory caveat, for example a shift in how FxPro's licences or the SEC Nigeria register are described, is published once the new wording has been checked against the source. No change is backdated, and no change is made to a figure simply to make an example look more favourable.

Because the site does not collect registrations, it cannot notify you individually, so the practical rule is to read this page before relying on any term. Continued use of the site after a change is published means you accept the current wording. If you disagree with a change, the remedy is to stop using the site; nothing here creates an ongoing obligation on you. The same page carries the affiliate disclosure and the liability limits, so a single visit shows the complete set of terms in force at that moment.

What the Educational Examples Assume About Your Account

Every worked example on this site assumes a standard gold contract of 100 oz, a pip of 0.01, and a reference price near 4275.0, with no allowance for spread, commission, swap or slippage. The margin figure of about $85.50 for a 0.10-lot position at 1:200 via the offshore entity is arithmetic only. It does not reflect what your broker will require, because margin depends on the contract specifications, the account currency, and any change in the reference price at the time of the trade. Treat it as a teaching number.

The examples also assume you are funding in a way available to Nigerian readers: local NGN bank transfers, Visa or Mastercard debit cards, e-payments, or crypto. They do not assume a particular minimum deposit, because no minimum deposit is stated here as a number. They do not assume a particular spread or commission, because those depend on the broker's live schedule. Where a review cited 1:30 or 1:20 caps instead of 1:200, that conflict is noted and left unresolved rather than presented as settled fact.

Finally, the examples assume you understand that leverage is a cap, not a setting to aim at. Using the full 1:200 available via the offshore entity magnifies both gains and losses, and a 0.10-lot gold position can move by more than its margin in a short session. The site does not model your stop-loss, your holding period, or your account equity, so the numbers are illustrations of mechanics. Run your own figures on your platform, and confirm the broker on the SEC Nigeria register before you commit any naira.

What Benue Rules Provides and What It Does Not

Benue Rules is an educational reference for gold (XAU/USD) trading mechanics, not a source of personal investment advice. The site explains how contracts for difference work, how margin and pip values are calculated for a 100 oz standard lot, and how a reference price near 4275.0 translates into position sizing. It does not tell you whether to buy or sell gold, does not manage money, and does not execute orders. Any decision to trade remains yours, taken with full awareness that gold CFDs can lose more than the amount you set aside.

Benue Rules does not know your financial situation, your income, your dependants, or your tolerance for drawdown, so nothing published here can be treated as a recommendation tailored to you. A worked margin figure, such as the roughly $85.50 required for a 0.10-lot gold position at 1:200 via an offshore entity, is an illustration of the arithmetic, not a suggestion that 0.10 lots suits your account. The same applies to any explanation of leverage: it is a cap, not a setting to aim at. Treat every number as a teaching example and verify it against your own broker's contract specifications.

Benue Rules is not a broker, a fund manager, a signal provider, or a licensed investment adviser in Nigeria. It does not hold client money, does not process naira bank transfers or card payments, and does not open trading accounts. If you choose to trade through FxPro, the entity serving Nigeria is FxPro Markets Direct Costa Rica Latam SRL, and your relationship is with that firm, not with this site. Before funding any account, confirm the broker on the SEC Nigeria register of capital market operators, because the SEC Nigeria is the local authority for capital market operators.

The Affiliate Relationship Behind Links on This Site

Benue Rules earns money through affiliate links, which means the site may receive a payment from a broker if a reader opens an account after clicking through. This payment does not change the reference price of gold, the pip value of 0.01, the 100 oz contract size, or any margin calculation shown. It does mean you should assume that a link to FxPro or any other firm is commercial, not neutral. The editorial rule here is that the explanation of how gold CFDs work stands on its own whether or not you ever click a link.

The affiliate relationship is disclosed in full so you can weigh the source. When Benue Rules describes FxPro's platforms, MT4, MT5, cTrader and FxPro Edge, or notes that maximum leverage in Nigeria reaches up to 1:200 via the offshore entity, that description may sit alongside an affiliate link. No payment was received in exchange for a particular figure, and no spread, commission, swap or minimum deposit is quoted as a number because those depend on the broker's live schedule and your account type. Where a review cited 1:30 or 1:20 caps, that conflict is reported as unresolved, not smoothed over.

You are never obliged to use an affiliate link. Opening an account directly with the broker, or comparing several firms on your own, is entirely reasonable and costs you nothing on this site. The affiliate payment, where it applies, comes from the broker's marketing budget and not from your deposit. Benue Rules does not accept payment to alter a risk warning, to hide the fact that leverage is a cap rather than a target, or to present trading as a route to guaranteed income. If a commercial arrangement ever conflicts with accurate explanation, the explanation takes priority.