Terms of Use

Educational material, not advice

Everything on this site is educational material only. It is not advice and it is not an offer to buy or sell any financial product. No page is tailored to a reader's circumstances, goals or tolerance for risk, and no page should be read as a recommendation to trade.

The desk is not a licensed adviser and does not provide personal advice. A reader who needs advice about whether gold trading suits them should speak to a licensed adviser. Nothing here replaces that conversation, and no page should be treated as a signal to act.

The risk of loss

CFDs on gold carry a high risk of loss and most retail accounts lose money. Leverage magnifies both gains and losses, and a cap such as up to 1:200 is a ceiling, not a target. A position can move against a trader quickly, and losses can exceed what was expected.

Only money that can genuinely be lost should ever be put at risk. The worked figure on this site, that at 1:200 a 0.10-lot gold position needs about $85.50 margin, shows the deposit required, not the amount that can be lost. Margin is not a measure of safety.

How changes to these terms are published

Changes to these terms are published on this page with a revised effective date at the top, so the current version is always the one live on the site rather than an archived copy. We do not send individual notices for every edit, so check the page when you rely on a specific statement. A change applies from the date shown and does not retrospectively alter how earlier content should be read.

Substantive changes, such as a new affiliate arrangement or a shift in the governing law, are described in the revised text itself so you can see what moved. Minor corrections, including fixing a reference price or a margin example, are made in place without a separate announcement. The version on this page at the time you read it is the operative one, and older versions are not maintained as a live resource.

Continuing to use the site after a revised date means you accept the updated terms as published. If you do not accept a change, the remedy is to stop using the content; it does not affect any trade already placed with a broker. Because the site is information only, no change to these terms alters your broker agreement, your funding through PayID or bank transfer, or the regulator caveat that FxPro does not hold an ASIC licence.

Dated figures and affiliate links

Figures are dated and must be verified with the broker before use. Costs, leverage caps and funding methods change, and a page is only accurate as at the date it was read. A reader should confirm the current terms in the broker's own documents rather than relying on a figure here.

Affiliate links mean the reader's relationship is with the broker, not with this desk. The account, the contract and the complaints process all sit with the broker. FxPro is licensed by the FCA (UK) and CySEC. It does not hold an ASIC licence, so Australian residents deal with an offshore entity — check this before funding.

What the terms do not cover and where to look instead

These terms do not govern your trading account, order execution or the money you deposit with a broker, so the broker's client agreement is the document that covers those matters. If you open an account with FxPro, the contracting entity for Australian residents is FxPro UK Limited, and its terms, complaint process and regulator rules apply to the account. Read that agreement before funding, because it sets out how disputes, slippage and withdrawals are handled.

The site also does not set or negotiate spreads, commissions, swaps or minimum deposits, so those figures come from the broker and depend on the account type, the instrument and market conditions. We cannot quote a number we were not given, which is why the content explains what each cost consists of rather than naming an amount. Ask the broker directly for the current schedule before you trade gold (XAU/USD) at any size, including a 0.10-lot position.

Nothing here covers tax, superannuation or personal credit circumstances, and those depend on your own position and on Australian tax law as it applies to you. Seek a licensed adviser for that side of the decision. The terms are limited to how you use this information service, how the affiliate relationship works and the liability and law that attach to the content, and they should be read alongside the broker's documents rather than as a substitute for them.

Limits of liability in plain words

Bendigo Bullion is not liable for trading losses, missed opportunities or decisions you make after reading this site, because the content is general information and the trades are yours. We do not control broker execution, platform uptime, funding delays through PayID or bank transfer, or market gaps in gold (XAU/USD), so we cannot accept responsibility for outcomes that flow from those systems. Your recourse for a service failure sits with the broker you chose, under its terms and its regulator.

We aim for accuracy but do not warrant that every figure, reference price or explanation is current or error-free at the moment you read it. The reference price near 4275.0 and the margin example of about $85.50 for a 0.10-lot position are illustrations that move with the market. If a number on the page is out of date, the live figure at your broker governs the trade. Verify anything you intend to rely on before you commit funds.

Nothing on this site creates a client, advisory or fiduciary relationship between you and Bendigo Bullion. To the extent permitted by law, our liability for any claim connected to the content is limited to re-supplying the information or the cost of doing so. This does not exclude rights you have under Australian consumer law that cannot lawfully be excluded, and it does not make us a party to your broker agreement.

The affiliate relationship, stated in full

Bendigo Bullion earns a commission when a reader opens an account with a broker through links on this site, and that commercial relationship is disclosed here rather than buried in a footer. The payment comes from the broker, not from you, and it does not change the reference price or the cost you pay on a trade. It does mean we have a financial interest in you choosing a partner broker, so weigh our content with that in mind and compare independently before funding.

Affiliate payment does not buy a favourable description of any cost. We are not given a spread, commission, swap or minimum deposit figure to quote, so we describe what those costs consist of and what they depend on instead. The worked margin example, where a 0.10-lot gold position needs about $85.50 at 1:200 leverage, is arithmetic based on the reference price near 4275.0 and the contract size of 100 oz per lot, not a promotional figure.

You are free to open an account directly with a broker without using our links, and doing so does not reduce what you pay. The affiliate arrangement is separate from the regulator caveat: FxPro is licensed by the FCA (UK) and CySEC and does not hold an ASIC licence, so Australian residents deal with an offshore entity. That fact stands regardless of any commercial relationship and should be part of your decision before you deposit funds.

The law that applies to these terms

These terms are governed by the laws of Victoria, Australia, and the courts of that state have jurisdiction over disputes about the content, because Bendigo Bullion publishes from Australia for an Australian audience. That choice of law covers how the site is read and how any claim about the information is handled. It does not change the fact that your trading account with FxPro UK Limited is governed by the broker's own agreement and the rules of its regulator, the FCA (UK) and CySEC.

The regulator position matters to which protections apply. FxPro is licensed by the FCA (UK) and CySEC and does not hold an ASIC licence, so Australian residents deal with an offshore entity and the Australian external dispute resolution regime does not automatically cover that account. Check this before funding. The site's own terms can be enforced in Victoria, but the conduct of your trades sits under the broker's jurisdiction and its complaints process.

Where a provision of these terms conflicts with a law that applies to you and cannot be contracted out of, that law prevails to the extent of the conflict. Australian consumer guarantees are an example of rights that override inconsistent wording. The governing law clause is there to give certainty about which court hears a dispute over the content, not to remove protections the law gives you as a reader in Australia.

Bendigo Bullion is an information service, not a licensed adviser

Bendigo Bullion publishes educational material about trading gold (XAU/USD) and does not provide personal financial advice, so nothing on this site is a recommendation to buy, sell or hold any instrument. The content explains how the market works, how costs are structured and how margin is calculated, using examples such as a 0.10-lot gold position needing about $85.50 margin at 1:200 leverage. It does not consider your objectives, financial situation or needs, and you should treat every figure as an illustration rather than a directive.

This site does not execute orders, hold client money or manage accounts on your behalf. Any trading you do is with a third-party broker, and the order flow, pricing and execution quality come from that broker, not from Bendigo Bullion. If you choose FxPro, the entity serving Australian residents is FxPro UK Limited, which is licensed by the FCA (UK) and CySEC but does not hold an ASIC licence, so you deal with an offshore entity. Check that structure before funding.

The material is general in nature and cannot account for your tax position, risk tolerance or time horizon. Australian readers should consider whether an offshore broker arrangement suits their circumstances and seek licensed advice where needed. No statement here is a guarantee of any outcome, and no example should be read as a promise of profit. Use the content as a reference for understanding mechanics such as lot size, pip value and margin, then make your own decision or consult an adviser who knows your full position.