Free guide
Learn gold first. Then pick a broker.
- Five short lessons. What moves gold and how to size a trade.
- Free tools. Baroq's calculator and calendar, no account needed.
- Then set up. A demo on XM or Exness to practise.
Independent partner page · Not for US residents · Risk warning
XM
A large global broker with very small accounts and a free demo.
- PlatformsMetaTrader 4, MetaTrader 5 and the XM app
- AccountsMicro, Standard and Ultra Low (Shares in some regions)
- Smallest first depositStandard and Ultra Low: $5, or the same amount in the deposit currency. Shares: $10,000. Source
Exness
A global broker known for raw-spread accounts and automatic withdrawals.
- PlatformsMetaTrader 4, MetaTrader 5, Exness Terminal and the Exness Trade app
- AccountsStandard and Standard Cent; Pro, Zero and Raw Spread for experienced traders
- Smallest first depositLow minimum deposits; the amount varies by payment method and country. Check the broker's current account page. Source
A source link is the broker's page. No link: check the broker's current page.
Five lessons
Gold, in five minutes.
What XAUUSD is
The price of one ounce of gold in US dollars. A broker offers it as a CFD: you trade the price, you never own the metal.
What moves it
US interest rates, the dollar, inflation data and fear. A surprise in US jobs or inflation numbers can move gold in seconds.
How big to trade
Risk a small, fixed part of your account per trade, often 1% or less. The stop decides the size, not the hope.
When to stand aside
Right before big releases spreads widen and prices jump. Many traders wait until the first move is over.
Practise on a demo
Trade your plan on virtual money for a few weeks. If it fails there, it will fail with real money too.
More free guides are on Learn.
Free from Baroq
Tools that work with any broker.
No account needed. Baroq makes analytics software for traders; these are free.
Then practise
Two brokers with a free demo.
| XM | Exness | |
|---|---|---|
| Platforms | MetaTrader 4, MetaTrader 5 and the XM app | MetaTrader 4, MetaTrader 5, Exness Terminal and the Exness Trade app |
| Accounts | Micro, Standard and Ultra Low (Shares in some regions) | Standard and Standard Cent; Pro, Zero and Raw Spread for experienced traders |
| Smallest first deposit | Standard and Ultra Low: $5, or the same amount in the deposit currency. Shares: $10,000. Source | Low minimum deposits; the amount varies by payment method and country. Check the broker's current account page. Source |
| Gold | XAUUSD as a CFD on every account | XAUUSD as a CFD on every account |
| Demo | Free, with virtual money | Check on the broker’s site |
| Withdrawals | Check on the broker’s site | Exness says most are processed automatically |
| Who it accepts | Many countries; not residents of the United States | Many countries; not residents of the United States |
| Regulation | Check on the broker’s site | Exness (SC) Ltd is authorized by the Seychelles FSA (licence SD025). Other Exness companies are licensed elsewhere. Not for US residents. Source |
| Spreads, leverage, swaps | Change often: check them live on a demo | Change often: check them live on a demo |
| Suits | Traders starting small, and anyone who wants a familiar MetaTrader set-up with small lot sizes. | Short-term and EA traders who compare the full cost per trade, and traders who want cent accounts. |
Related guides
Read next.
Brokers for goldSmall accountsXM and Exness side by side
Free on the Baroq site: What is XAUUSD?Lot size for goldDemo to live
Questions
Straight answers.
Is Baroq a broker?
No. Baroq makes trading software and is an independent partner of the brokers named here. You open, deposit and trade on the broker's own site, under its terms.
Do you earn money when I sign up?
Yes. If you open an account through our link, the broker may pay us a commission. It costs you nothing extra and does not change your prices.
Can I lose money?
Yes. CFDs on gold and currencies are leveraged: you can lose money quickly, and most retail accounts lose money. Trade only money you can afford to lose, and try a demo first.
I live in the United States.
These brokers do not accept US residents, so these pages are not for you.
I live in the EU or the UK.
Brokers serve the EU and the UK through separate companies with their own rules. Use the EU and UK button and we help you find the right sign-up for your country.
Which one should I pick?
Open a free demo on both, place the same trades for a week, and compare what each one really costs you. Then decide.
Before you click
Partner notice. Baroq is an independent partner (introducing broker) of the brokers on this page and may be paid a commission when you open an account through its links, at no extra cost to you. Baroq is not a broker, is not part of any broker and does not hold your money. XM and Exness and their logos are trademarks of their owners; this page is not their official site.
Risk warning. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail investor accounts lose money when trading CFDs. Consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Nothing here is investment advice or a promise of any result.
Not for US residents. These brokers do not accept residents of the United States. Some products are not available in every country; the broker decides who it accepts.
Facts are what the brokers publish. A source link is that fact's page. They change and depend on where you live: check the broker's own site before you deposit.