Industry
Solar panels and electronics
Roughly half of the silver used each year goes into industry. It conducts electricity better than any other metal, so solar panels and electronics depend on it, and swings in manufacturing can move its price.
XAGUSD · Spot metal CFD
Trade Silver XAG/USD
Trade Silver against the US dollar (XAGUSD) on Mega1 or MetaTrader 5. Go long or short without buying, storing or taking delivery of physical metal.
- Maximum leverage
- Up to 200:1*
- Minimum trade
- 0.01 lot
- Contract size
- 5,000 oz
*Exposure-based margin bands apply incrementally per symbol. Metal CFDs are leveraged derivatives; availability depends on account, platform and jurisdiction.
XAG/USD
XAGUSD · Silver / US Dollar
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XAG/USD · Metals
What is XAGUSD? Silver priced in US dollars.
XAGUSD is the market price of one troy ounce of Silver quoted in US dollars. A rising price means Silver is gaining value against USD; a falling price means it is losing value against USD.
- Symbol
- XAGUSD
- Minimum price increment
- 0.0001
- Price precision
- 4 digits
- Profit currency
- USD
- Minimum volume
- 0.01 lot
- Volume step
- 0.01 lot
Gold
Following gold, with bigger swings
Silver usually moves in the same direction as gold, reacting to the same real yields, Fed expectations and dollar moves. Its market is much smaller, so the moves are often bigger in percentage terms.
Investment
Coins, bars and ETFs
Investors hold silver as a lower-priced precious metal, through coins, bars and exchange-traded funds backed by physical metal. Large flows into or out of these funds can push the price over weeks and months.
Supply
A by-product of other mines
Most silver is mined as a by-product of lead, zinc, copper and gold, so output follows those metals more than the silver price. Higher prices don't quickly bring more silver to market.
When silver is most active
Silver trades almost around the clock on weekdays, pausing for an hour at the New York close, from 17:00 to 18:00 New York time. Liquidity is deepest while London and New York are both open, from about 8:00 to 12:00 New York time, and US data such as payrolls, at 8:30 New York time, can jolt the price. The LBMA Silver Price, set at noon in London each business day, is the benchmark for physical silver.
Silver at a glance
- XAG/USD is the price of one troy ounce of silver in US dollars.
- At XBTFX one lot is 5,000 ounces, so the 0.01-lot minimum trade is 50 ounces.
- You can also trade silver against the euro, British pound, Swiss franc and Australian dollar.
Two pricing choices
Compare XAGUSD spreads and trading costs.
Raw pricing
Pro
Variable raw spread
- Metal CFD commission
- USD 2.75 / USD 100k
- Platforms
- Mega1 & MetaTrader 5
All-in spread
Standard
Variable all-in spread
- Metal CFD commission
- No separate commission
- Platforms
- Mega1 & MetaTrader 5
Pro commission is USD 2.75 per USD 100,000 traded. Spreads are variable and can widen. Swaps may apply at rollover. Pricing, leverage, account and platform availability can vary.
Exposure-based margin
How XAGUSD leverage and margin bands work.
XAGUSD margin is applied incrementally by total notional exposure in this symbol. Crossing a threshold does not reprice exposure already assigned to lower bands; only additional exposure uses the next rate.
How exposure-based margin worksXAGUSD margin schedulePublished schedule
| Additional notional | Leverage | Margin |
|---|---|---|
| $0–$250K | 200:1 | 0.50% |
| $250K–$2M | 50:1 | 2.00% |
| $2M–$10M | 20:1 | 5.00% |
| $10M–$50M | 10:1 | 10.00% |
| $50M–∞ | 7:1 | 15.00% |
USD notional bands applied per symbol. The live platform specification remains authoritative.
Contract details
XAGUSD contract specifications.
Review contract size, volume, carrying costs and the published trading session before placing a trade. Values are refreshed from the XBTFX specification service.
- Contract size
- 5,000 oz
- Minimum / maximum volume
- 0.01 lot / 500 lots
- Volume step
- 0.01 lot
- Quote / profit currency
- USD
- Swap long
- −103.55 points
- Swap short
- 50.17 points
- Three-day swap
- Friday
- Published session
- 00:00–21:00, 22:00–24:00 platform time
Open full XAGUSD specifications
Sessions and swap values may change for holidays, liquidity conditions and scheduled maintenance.
Plan a scenario
Calculate a XAGUSD trading scenario before you trade.
For XAGUSD, profit or loss is the price change multiplied by 5000 ounces per lot and the number of lots, before spread, commission, swaps and currency conversion.
Minimum price increment 1 lot × USD 1 = USD 5000 Before trading costs Open XAG/USD calculator
Where to trade
Trade Silver your way.
Access XAGUSD through Mega1 in the browser, on desktop or mobile, or trade through MetaTrader 5.
Understand Silver trading before opening a position.
Why is silver more volatile than gold?
Its market is much smaller than gold's, so the same amount of buying or selling moves it further. And unlike gold, much of its demand comes from industry, which rises and falls with the economy.
How much do I need to trade silver?
The minimum trade is 0.01 lots, which is 50 ounces. For example, at a silver price of about $55.20 that is a position worth about $2,760, and at the first-tier leverage of 200:1 its margin is about $14. Leverage steps down as your exposure grows, and you need more than the margin in your account to absorb moves against you.
What is the difference between spot silver and silver futures?
Futures, such as those on COMEX in New York, are contracts for silver on a set future date, so each one expires and must be rolled to stay in the trade. XAG/USD follows the spot price, and positions held overnight pay or earn swap instead.
What is the gold-silver ratio?
The gold price divided by the silver price: how many ounces of silver one ounce of gold buys. Traders use it to judge whether silver looks cheap or dear next to gold. It can stay high or low for years, so it's a guide rather than a timing signal.
What is XAGUSD (XAG/USD)?
XAGUSD is Silver quoted against the US dollar. The displayed price represents the USD value of one troy ounce, while one standard XBTFX lot represents 5000 ounces.
Do I own physical Silver when I trade XAGUSD?
No. XAGUSD is a leveraged CFD, not a purchase of bullion. It provides price exposure but no ownership, storage claim or delivery right over physical Silver.
What moves the XAGUSD price?
XAGUSD can respond to the US dollar, real yields, interest-rate expectations, physical and industrial demand, supply conditions and changes in market risk. Spreads can widen in volatile or thin markets.
How is leverage applied to XAGUSD?
XAGUSD uses published exposure-based margin bands. The schedule is tied to notional exposure in this symbol, not account balance. Only exposure added above a threshold uses the next margin rate.
Can I trade XAGUSD with Pro or Standard pricing?
Yes, subject to account and platform availability. Pro uses a raw variable spread plus USD 2.75 commission per USD 100,000 traded. Standard uses a wider all-in spread without a separate commission line.
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Risk warning
CFDs are complex instruments and involve a significant risk of loss due to leverage. Prices are indicative and may differ from executable account prices. Consider whether you understand how CFDs work and whether you can afford the risk. Risk Disclosure Notice
Ready to trade Silver against the US dollar?
Open an XBTFX account, choose Pro or Standard pricing, and access XAG/USD on a supported platform. Metal CFDs are high-risk leveraged products.