Unable to buy gold with less than $1000 on etoro

panda4

Hello guys, i am unable to purchase gold in a lower price. Is it because its considered as CFD? is there any option to modify it, for me to purchase in a lower price? Thanks!

Unable to buy gold with less than $1000

faisal

As you can see from the screenshot, $1000 is minimum to open a position in gold. In this case, you have 2 options:

You can use $1000 in available cash to open without any Leverage.
You can open a position with $100 in available cash but you will need to use 20x Leverage.
If you're a beginner, you should read up about Leverage and understand it well and how it works first to know if you want to take that amount of risk.

AteNTICI

If I may add, all commodities like gold, oil, copper, sugar, etc. require a minimum position of $1000 so this is the reason why the platform won't allow you to execute your current trade. You'll be able place a smaller amount and then utilize the leverage as a multiplier so let's say you only have $500 left in your capital, then you can use a leverage of X2 so that you can meet the required minimum position. Also keep in mind that leverage may not be available in some countries depending on which regulator your account is under.

SSOB

AteNTICI In addition and very important to remember: Leverage enables you to get a much larger exposure to larger trading positions using a smaller amount of capital. While this may be tempting since the potential profits are increased, this can also be very risky as it can also increase the potential losses that you may incur should the market goes against you so always trade with caution.

panda4

Thanks for taking time to answer my question. I highly appreciate it. 🙂 So just to check if I got it correctly, I can place a trade on gold or other commodities with or without leverage as long as the minimum value is $1000?

SSOB

panda4 Correct. Regardless if you're using leverage or not, as long as the value of the trade size is $1000 or higher for any commodity asset class, the platform will accept it.