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Vantage Introduces 24/7 Gold CFD Trading with New OTC Product
Multi-asset broker Vantage Markets announced it has launched a new over-the-counter (OTC) contract for difference (CFD) product that enables 24/7 trading on gold. The new instrument, XAUUSD247, allows eligible clients to trade the precious metal beyond traditional market hours, including on weekends.
Product Details
According to a company statement released on July 4, the XAUUSD247 product is available on the MT5 and TradingView platforms, as well as the Vantage App. The offering is structured differently from the broker's standard gold CFD, featuring a smaller contract size and specific risk management controls.
Key specifications of the new product include:
- Contract Size: One troy ounce, compared to the 100-ounce contract for the standard XAUUSD product.
- Leverage: Tiered leverage of up to 100x may be available, subject to account type and position size.
- Cost: No separate trading commission is applied, though spreads, financing charges, and other costs may be incurred.
- Risk Management: The product incorporates net and gross exposure limits at the account level. Accounts that reach the exposure threshold will be placed in a "close-only mode" until the exposure is reduced.
AdMarket Context
The move by Vantage provides traders with the ability to react to geopolitical or economic news that breaks over the weekend, a period when traditional gold markets are closed. "XAUUSD247 provides eligible clients with access to gold CFDs beyond standard market hours, supported by transparent product mechanics and clearly defined trading controls," said Marc Despallieres, Chief Executive Officer at Vantage, in the announcement.
This launch comes as other major market operators also explore extended trading hours. CME Group recently announced its own plans to expand trading for certain gold futures products to nearly 24/7, pending regulatory review. Vantage noted that its XAUUSD247 is a separate, broker-specific OTC product and not directly related to the exchange-traded futures.