Cash spread formula
Course context: This lesson belongs to a practical beginner curriculum for Pakistan.
Spread cost = (Ask − Bid) × 100 troy ounces × lots for standard XAUUSD contract size. Example: a USD 0.30 price spread at 0.01 lot equals 0.30 × 100 × 0.01 = USD 0.30 before commission, swap, conversion and slippage.
Published contract fields
| Field | XAUUSD | Why it matters |
|---|---|---|
| Contract size | 100 troy ounces per lot | Converts price movement into cash P/L |
| Minimum volume | 0.01 lot | Minimum nominal exposure is 1 ounce |
| Pip size | 0.01 | Do not confuse one pip with one USD move |
| HMR | 1:200–1:1000 | Margin can increase around specified events/periods |
| Raw commission | USD 3.50 per lot per side | USD 7 per lot round trip |
| Zero commission | USD 5.50 per lot per side | USD 11 per lot round trip |
| Triple swap | Wednesday | Holding date changes financing impact |
Account-cost comparison
| Account | Spread component | Commission component | Test required |
|---|---|---|---|
| Standard | Floating spread | No trading commission | Observe median and worst intended-session spread |
| Pro | Floating spread | No trading commission | Check execution type and actual spread |
| Raw Spread | Can start from 0.0 | USD 3.50/lot/side on XAUUSD | Add both sides even when spread is tight |
| Zero | Zero-spread periods are conditional | USD 5.50/lot/side on XAUUSD | Measure how often spread is non-zero in your session |
Twenty-snapshot measurement
- Choose one Pakistan-time trading window.
- Record XAUUSD Bid and Ask at twenty predetermined times.
- Calculate cash spread at the intended volume.
- Mark news, rollover and HMR indicators.
- Add round-trip commission for Raw or Zero.
- Add swap if the plan crosses rollover.
- Compare median, 90th-percentile and worst total entry cost.
XAUUSD versus XAUUSD247
XAUUSD247 supports seven-day trading and uses a Special Price Offset. It has fixed 0.5% margin (1:200), is not offered on Standard Cent, and is not interchangeable with ordinary XAUUSD. Use its own chart and specification; do not transfer a weekend price or spread observation to XAUUSD.
Official references
Exness commodity contract specifications · Trading calculator methodology · Commission rules
Questions from a first-time learner
What is the fixed Exness gold spread?
There is no single fixed value; spread changes with market conditions and must be observed live.
How much is a USD 0.30 spread at 0.01 lot?
With the 100 oz contract, it is USD 0.30 before other costs.
Does a zero spread mean a free XAUUSD trade?
No. Zero charges USD 5.50 per lot per side on XAUUSD, and spread can rise during key periods.
Is XAUUSD247 the same chart as XAUUSD?
No. It has separate pricing behaviour, availability and fixed margin conditions.