For currency pairs, I am able to trade lot sizes as small as 0.01. However, with gold I am only able to trade lot sizes of 1.0+. Is there a reason for this?
I am using an FXCM spread betting account.
You aren’t trading lots in gold, you’re trading ounces.
That’s why you can only trade whole numbers
A look through this thread might be helpful for you.
You could also contact the support of FXCM and ask about their specification in gold trading.
Chuck Norris is right. Since you’re trading ounces of gold, you trade sizes are in whole units. That said, it’s worth noting that since gold is priced to the cent, each the price goes up or down by 1 cent, your account equity also changes by 1 cent for a 1 ounce trade.
By contrast, when you trade 1 micro lot of EUR/USD, that’s a 1000 Euro trade, you’re risking 10 cents each time the price goes up or down by 1 pip.
LOL! Chuck Norris is always right 
And if He wants, He can trade half or quarter of ounces.
Now seriously. If I got it right with FXCM the min lot size for gold is 1 and it contains just 1 ounce? If so what does it cost? Is there a commission charged per ounce or spread mark up (what min spread / is there max spread) or any other trading costs calculation. :rolleyes:
There are no commissions when you trade gold (XAU/USD) with FXCM. Your only transaction cost is the spread. The spread is variable and the target spread is 50 cents. There is no minimum or maximum. It’s all based on market conditions. At the time of this post, the spread is 41 cents. That means, if you open a 1 ounce trade, you would pay 41 cents in spread cost.
I got you. So if I want to trade 100 oz. the costs will be between 0 and 50 USD or it can be also more than 50 USD? Sorry but I couldn’t understand what is the target spread of 50 cent 
The above is correct, you would expect to pay 50USD for 100oz trade if the target spread equals the market spread at the time of the trade (it could be better or worse)
Target spread is the spread value that FXCM ‘hope for’ during times of good liquidity and market stability.
In times of poor liquidity, and an unstable market (such as during high rate news), the actual spread ‘may’ be much higher than the target spread.
Just think of target spread as an average of what to expect when trading, it’s the cost of your transaction should you want to immediately open and close your trade at the same price.
Hi Eyedfondue,
Jezzode is correct. If you trade 100 oz. of gold with 50 cent spread, then your total spread cost would be $50. However, if the spread is higher or lower than 50 cents, then your total spread cost would be higher or lower accordingly. While spreads vary according to market conditions, you can get a feel for these spread fluctuations by testing a free demo account. Demo accounts show our live spreads.
Jason/Jezz thank you for that clarifications. I got the main idea now 
I do now of course that spread can go wider depending on market condition (like the NFP today). Having to pay 4-5 USD spread costs for 10 oz. seems to me a bit much though. Further I guess also a slippage can occur (not in a demo account I guess) and the things may get ugly lol.
Anyway, thanks for the input guys!
Can one trade Gold with $100 account
Hi pipnaija,
Yes, you can trade gold with FXCM if you have a $100 account.
If you’re new to trading you may want to practice first in a demo account to become familiar with leverage and placing trades on Gold. You will find Gold listed as XAU/USD in the symbol list.
Jason
*FX/CFD trading carries a risk of losses in excess of your deposited funds
Great thanks. I have been practicing currency trading and not Gold. Hope to try Gold
Hello, I’ve encountered this same problem and needs help