GuideBeginner3 min readNovember 5, 2026

How to Read the XAUUSD Contract Specification in MT5 (Every Field Explained)

Where to find the gold contract specification in MT5 and what contract size, digits, stops level, swap, 3-day swap and sessions mean for your trades.

LinGold trader

Lin's Take

I wrote this guide based on how I actually trade gold. No theory — just what works after 10 years.

Key takeaways

In MT5: Market Watch → right-click XAUUSD (or your broker's gold symbol) → Specification.
| Field | What it means | Why it matters |
MT5 counts in points: the smallest price step. On a 2-digit gold quote, 1 point = 0.01 dollars. This site's calculato...
Session times are in the broker's server time zone, which is often set so that midnight equals 5 p.m. New York. Compa...
1. Contract size is what you expect.
Why is my stop rejected with "invalid stops"? It is closer than the stops level, or on the wrong side of the price. I...

The contract specification is the single most useful window in MetaTrader that most traders never open. It tells you exactly what one lot of gold is at your broker, what it costs to hold and when you can trade it.

How to open it

In MT5: Market Watch → right-click XAUUSD (or your broker's gold symbol) → Specification.

In MT4: Market Watch → right-click → Specification (or Symbols → select → Properties).

The fields that matter

Field	What it means	Why it matters
Contract size	Ounces per 1 lot, usually 100	Sets your profit per dollar move: 100 oz = 100 dollars per 1-dollar move per lot
Digits	Decimal places in the price (2 or 3)	Explains why one "point" is 0.01 or 0.001
Spread	Current or fixed spread in points	A snapshot only; measure your own over time
Stops level	Minimum distance between price and a stop or limit order, in points	Orders closer than this are rejected
Margin currency / margin rate	How margin is calculated	Combined with leverage, sets margin per lot
Volume min / max / step	Smallest lot, largest lot, increment	Most brokers allow 0.01 lot minimum
Swap type	Points, money or interest	How the overnight charge is expressed
Swap long / swap short	Overnight charge per lot for buys and sells	The cost of holding; usually negative for longs
3-days swap	The weekday when three nights are charged	See triple swap day on gold
Sessions (quotes / trades)	Hours when prices are quoted and when you can trade, in server time	Includes the daily break

Points vs pips

MT5 counts in points: the smallest price step. On a 2-digit gold quote, 1 point = 0.01 dollars. This site's calculators use 1 pip = 0.10 dollars, which is 10 points. The money is the same either way: 1 lot gains or loses 100 dollars per 1-dollar move. The pip value calculator explains both conventions.

Server time

Session times are in the broker's server time zone, which is often set so that midnight equals 5 p.m. New York. Compare the session hours with your own clock once, and write down the conversion.

A one-minute check before you trade a new account

Contract size is what you expect.
Minimum volume is small enough for your account (0.01 for most retail accounts).
Stops level allows the stop distances you use.
You know the swap on a long and the 3-day swap day.
You know when the daily break is.

Questions traders ask

Why is my stop rejected with "invalid stops"? It is closer than the stops level, or on the wrong side of the price. Increase the distance.

Why is the swap shown in points? Some brokers express swap in points; multiply by the point value per lot to get dollars.

Why does my broker's gold contract size differ? Some offer smaller contracts for small accounts. Adjust position sizes accordingly; see XAUUSD symbol suffixes.

I don't predict. I prepare. Every trade I share here is placed with real money, in real time. No indicators, no noise — just price action and experience.

— Happy trading, Lin