Trading Platinum and Palladium
Posted on: 08 May 2015 , by: Pepperstone Support , category: About Trading
Along with gold and silver, Pepperstone offers platinum and palladium on our MetaTrader4 and cTrader platforms. Platinum and palladium are precious metals and are both traded against the US dollar in a similar way to any other currency pairs on the platform.
XPT/USD (Platinum) is a precious metal which is currently more valuable per ounce than gold. While gold is ever so slightly rarer in the earth’s crust, platinum is produced in much smaller quantities. Platinum’s properties as the least reactive known metal and its luster makes the silver metal highly sought after. Platinum’s major uses are found as a catalyst in cars and as jewelry.
XPD/USD (Palladium) is a similar metal to platinum in appearance and function, and is often used as a replacement for the more expensive metal in jewelry and industrial uses. Palladium is produced almost entirely in Russia and South Africa and while the silver metal is the fifth rarest element in the earth’s crust, its production volumes exceed that of platinum. Palladium finds most of its use, like platinum, as a key component in electronics and jewelry, as well as dentistry.
Advantages of trading platinum and palladium through Pepperstone
- Access to institutional grade spreads and trade execution
- Minimum trade size of $0.10 per pip
- Leverage up to 500:1
- No commission fees on commodity pairs
- The ability to hedge positions on a single account
|Instrument||Minimum trade size||Margin requirement from as low as||Spreads from||Contract size per standard lot||Session times|
|XPTUSD||0.01||AUD $2.47||0.04||100 ounces||01:00 to 23:59 (GMT+3)|
|XPDUSD||0.01||AUD $2.47||0.04||100 ounces||01:00 to 23:59 (GMT+3)|