How to Start Gold Trading in 5 Steps
New to gold trading? Follow this 5-step plan: open a broker account, learn XAUUSD, practice on demo, place your first trade, and manage risk.
I wrote this guide based on how I actually trade gold at my desk in KL. No theory — just what works after 10 years.
Choose a Regulated Broker
I switch brokers based on spreads. Sounds harsh but trading is a business. A 0.1 pip difference adds up to hundreds of dollars over a year of trading. If another broker offers me less on XAUUSD and is equally regulated, I move. Loyalty costs money in this industry.
Open and Fund Your Account
After trading with five different brokers over ten years, I have settled on two. Systematic testing leads to informed broker choice. Here is my criteria: regulation (not optional), gold spread under 0.3 pips, and withdrawal in under 24 hours. That is it. Everything else is decoration.
Learn the Platform
Do not pick a broker based on a bonus or a flashy website. I made that mistake — it cost me three weeks of stress and a hard lesson. The broker you choose determines your spread costs, execution speed, and whether you survive. Choose with due diligence, not with your eyes.
Place Your First Real Trade
Your first ten trades are tuition. Do not expect to profit. Expect to learn. I lost money on six of my first ten trades but learned more than any book taught me.
Keep a Trading Journal
I use screenshots in my journal. A chart screenshot from entry and a screenshot from exit. Visuals tell a story that numbers alone cannot. Try it for a month.
I have been trading XAUUSD for over a decade. Everything in this guide comes from real trades at my desk in Singapore — not from textbooks. Here is what I have learned.
---
How to Start Gold Trading in 5 Steps
Getting started with gold trading is simpler than most people think.
Step 1: Choose a Broker
Your broker is the gateway to the market. Focus on these criteria:
- Regulation: Only trade with regulated brokers
- Gold spread: Look for 0.1-0.3 pips on XAUUSD
- Execution: Under 200ms execution speed
- Platform: MT4 or MT5 support
- Deposit: Low minimum deposit ($50-$200)
Step 2: Open Your Account
The process is straightforward:
- Register on the broker's website
- Upload ID for verification
- Fund your account
- Download the trading platform
Step 3: Practice on Demo
Spend at least 2 weeks practicing:
- Learn to navigate MT4/MT5
- Practice setting stop losses and take profits
- Try basic strategies without risking real money
On this page
Recommended Brokers
Recommended: Trade gold with EBC — tested across all sessions.
Start Trading Gold →Recommended: Trade gold with Wisuno — tested across all sessions.
Start Trading Gold →Related Guides
What You Will Learn in This Guide
This guide covers "how to start gold trading", "scalping gold strategy", "how to trade gold". Whether you are new to gold trading or refining your approach, understanding {category.toLowerCase()} principles helps you make better trading decisions.
Why How to Start Gold Trading in 5 Steps Matters for Gold Trading
Every gold trader needs to understand "how to calculate gold pip value", "how much margin for gold trading", "set stop loss for gold". Without proper {toolName.toLowerCase()}, you are trading blind. Use this tool alongside how to control emotions in gold trading, how to start gold trading and gold trader mindset to build a complete risk management framework.
Related Risk Management Concepts
Understanding "how to calculate gold pip value", "how much margin for gold trading", "set stop loss for gold" is just the beginning. Serious gold traders also study how to control emotions in gold trading, how to start gold trading and gold trader mindset to protect their capital. Master these concepts and you will trade with confidence across all sessions.
More from Tao's Desk
Hand-picked by Tao — from my trading desk to yours.
How to Fund Your Gold Trading Account: Deposit Guide
I go back to this one whenever I need to refocus on the basics.
5 min readGold Trading Terminology: Glossary for Beginners
I put this together after years of refining my own method. No fluff, just what works.
5 min readGold Trading Costs Explained: Spreads, Commissions & Swaps
I put this together after years of refining my own method. No fluff, just what works.
7 min readWhat is Gold Trading? A Beginner's Guide
I go back to this one whenever I need to refocus on the basics.