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JustMarkets and FxPro: Comparison of Trading Platforms for Investing in Gold
Gold is one of the most popular assets in the trading world. And whether you ask if this is a wonder, we’ll answer — not at all. You see, gold is time-proven and stable. Besides, it holds both historical and financial value for traders, which is great for pros and newbies who want to earn big. So, it’s unsurprising that the two popular brokers, JustMarkets and FxPro, also allow their clients to trade gold online.
We welcome you to see what gold trading conditions each of the brokers provide. Do their platforms have the features you need to invest in non-physical gold? Are there any benefits or perhaps pitfalls you should know about? Read about all this (and many more) in the article to decide which broker can better unlock your potential as a digital gold trader.
How to Trade Gold: Forex Market Provides More Benefits or Risks?
To start with, we want to stress that JustMarkets and FXPro don’t work with physical gold in bars or something. They offer you the option to buy or sell contracts that show the price movement of gold, so you won’t actually own a physical asset.
When trading this kind of gold, you can see various perks compared to “classical” assets, such as stocks, for instance. And, of course, there are lots of advantages over trading with physical gold, as you don’t need to worry about where to hide your golden bars and how much money you’ll pay for their transportation.
However, like anywhere else, CFD gold trading has hidden pitfalls, too. That’s why, before delving into the JustMarkets vs FxPro review to know which broker is suitable for gold traders, let’s talk about gold in Forex in general.
Pros of Gold Trading in Forex
First, check what advantages investing in gold can offer you:
- “Savior” From Inflation. Each type of gold asset can “protect” your savings when the market isn’t in the best condition because this precious metal retains its value for a long time. Traders often invest in gold during financial crises and other economic downturns.
- High Liquidity. While being universally recognized, digital gold is also a highly liquid asset. It is pretty easy to sell and buy because this asset is well-established in the market, and XAU/USD is the most popular high-liquid pair among existing pairs of currency + digital gold. Physical gold, by the way, is much less liquid.
- Easy Ownership. Unlike physical gold that you need to store in a secure vault, digital gold exists in a digital realm. Such trading is about the price movements of gold and its correlation with the price movements of specific currency pairs — no need to worry about extra ownership problems and storage costs.
- Portfolio Diversification. Every trader knows that diversification is a great investing strategy that allows them to earn more and work with different assets, companies, and niches. So why not diversify your portfolio with one of the most reliable assets on the market, i.e., gold?
As a final flourish, on ETFs, gold funds, CFDs… overall, on all digital “golds,” there are no high taxes, unlike physical gold. And if you want to hold the metal in the form of gold coins/bullion bars, you should pay extra fees for safety. In Forex, in turn, the amount of money you spend to keep your asset safe is much smaller, and it does not affect your wallet that much. You just have to pay the spread for the deal, which is often more beneficial in currency trading than in the “traditional” one.
Risks of Gold Trading in Forex
As every coin has two sides, let’s see the other side of CFD gold trading:
- Works on Market Ups. The prices must go up to benefit from gold — you can earn money only in this scenario. At the same time, other assets can usually provide you with a stream of income. Stocks, for instance, can help you to get dividends, along with potential gains from price appreciation.
- Leverage Risk. In general, Forex trading is known (and lovable!) for its great leverage features. But with the great anything comes great responsibility. Bear this in mind when trading digital gold, especially if your budget is tight.
- Ownership Feeling. Ownership? Again? Yes, this cloud also has a silver lining. Although it’s easy to own digital asset, some traders get used to the fact that precious metals need to be visible and touchable.
- Psychological Factors. This point also concerns trading in general, but we thought it wouldn’t harm to remind you that trading is not about emotions. So keep calm and trade gold with the cool head.
Finally, the theoretical part is done, and we can skip to the practical info. Let’s see what each broker has to show (or hide, huh?). Who, JustMarkets or FxPro, will turn your trade in golden (literally, golden) opportunities to earn and thrive?
Gold Trading on the FxPro Platform
If you want to trade gold, ForexPro, more known as FxPro, can be a good choice. Gold trading on the FXPro platform offers everyone a suitable environment to dive into the lucrative gold market. Here’s a look at what FXPro has to offer.
FxPro: Features and Benefits
Feature | About the Feature |
Access to Gold Markets | Trade gold (XAU/USD) with direct access to the global gold markets, enabling buying and selling gold as a commodity. |
Trading Platforms | Supports MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and FXPro Edge for flexible trading experiences. |
Leverage | Competitive leverage up to 1:500, allowing traders to control larger positions with a smaller investment. |
Spreads | Tight spreads starting from as low as 0.4 pips on gold trades, minimizing trading costs. |
How to Start Trading Gold with FxPro
Like features provided by FxPro? See the step-by-step guide to trade gold with the broker.
- Make an Account. First, sign up on FxPro. The form will involve some personal info — fill it out and complete the verification.
- Add Funds to Your Account. Once all is set up, top up your account. FxPro offers such funding methods as bank transfers, e-wallets, and credit cards.
- Find Out How Things Work. To trade gold like a master, go to the FxPro educational section and learn about the secrets of the best gold traders.
- Download Your Preferred Platform. Choose the trading platform that you’ve already worked with or want to try. FxPro can offer you MetaTrader 4 and 5, as well as cTrader.
You’re all set! Trade in gold markets and keep a keen eye on the trends to make smarter decisions.
Gold trading on the JustMarkets platform
Now, when we’ve checked what FxPro can offer, shall we analyze what perks JustMarkets has? The broker is also widely known, and it stands out in the market as one of the most client-centric platforms. So, what exactly can it offer you for trading gold in the easiest and most comfortable way? Wait no more and see in the table.
JustMarkets: Features and Benefits
Feature | About the Feature |
Access to Gold Markets | Trade gold (XAU/USD) with direct access to the global gold markets, allowing buying and selling gold as a commodity. |
Trading Platforms | Supports MetaTrader 4 (MT4) and MetaTrader 5 (MT5) for a flexible and comprehensive trading experience. |
Leverage | Offers competitive leverage up to 1:3000, enabling traders to control larger positions with a smaller investment. |
Spreads | Tight spreads starting from as low as 0.1 pips on gold trades, reducing trading costs. |
How to Start Trading Gold with JustMarkets
The instructions for starting gold trading with JustMarkets are pretty similar. However, the broker offers not the same list of trading platforms. With JustMarkets, you can trade gold via MetaTrader 4 or MetaTrader 5 on desktop, mobile, and browser.
Comparison of Gold Trading Platforms:
Although both brokers have many similarities and provide excellent opportunities to trade gold, they also have many differences. As they can be crucial for your trading strategy, environment, and results, we welcome you to compare JustMarkets and FxPro with us.
Functionality and Usability
Both JustMarkets and FxPro provide MT4 and MT5 platforms you can trade gold on. FxPro also has a platform FxPro Edge, along with cTrader. JustMarkets, in turn, has clearer and vaster functionality on their MT4 and MT5 mobile apps, where you can trade being far from home.
Trading Conditions and Commissions
JustMarkets has competitive spreads, which start at 0.1 pips on its Pro accounts. Besides, there is no commission on most accounts, the Raw Spread account is the only exception. FxPro, on the contrary, has higher spreads and commissions depending on the type of account you choose.
Bear in mind that FxPro offers 1:500 leverage, while JustMarkets has 1:3000 leverage, which is one of the highest in the market. Use it wisely, though, because high leverage means high risks but big money, too (if your strategy is good, of course).
Customer Support and Educational Resources
Both JustMarkets and FxPro have great educational resources. They include articles and webinars for newcomers who do not know anything about gold trading and seasoned ones who trade gold like gods. In trading, similarly to any other niche, you should constantly learn to be first. So, if comparing the accessibility of the materials, JustMarkets’ teaching aids feature simpler language, which not just newbies but all traders will like for sure.
Online Trading Features
JustMarkets and FxPro equally support social trading — FxPro offers algo-trading via cTrader, and JustMarkets features extensive copy trading services. Among other things worth mentioning, both brokerage platforms have convenient mobile apps. Therefore, you can trade gold online and manage your accounts whenever you want.
FAQ
It seems FxPro‘s best bonus is the Low Minimum Deposit. JustMarkets’ special promotions, in turn, are bigger and more well-thought. These involve:
- 0% Fees on Deposits and Withdrawals.
- Just Invite Friends Program.
For gold trading, JustMarkets usually recommends their Standard and Pro accounts, as they have the most competitive leverage and spread options. Note that Pro offers tighter spreads, and this is extra beneficial for gold traders.
FxPro also provides users with various account types. They differ in their accounts depending on the platform use, including MT4, MT5, and cTrader accounts. The cTrader usually provides the lowest spreads, so it may also be useful for gold traders.
Remember, though, you should try all the types by yourself to find the best for your own needs.
Both brokers have a great range of financial instruments. Besides gold, trade with JustMarkets and FxPro using these instruments: forex pairs, indices, stocks, commodities, and cryptocurrencies.