Silver trades on MetaTrader 4 as XAGUSD — the silver price in US dollars — as a CFD, so you can go long or short without owning physical metal. It moves like a more volatile version of gold: bigger swings, in a thinner market. The platform is free; you just need a broker that offers silver.
What is XAGUSD?
XAGUSD is the price of one troy ounce of silver quoted in US dollars. On MT4 it's a contract for difference, so your profit or loss tracks the price move. Silver is driven by industrial demand, the US dollar, and risk sentiment — and because it's a smaller market than gold, it tends to swing harder in both directions.
How to trade silver on MT4
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Find XAGUSD in Market Watch
In MT4's Market Watch, look for
XAGUSD(silver). If it's hidden, right-click the panel, choose Symbols, open the Metals group, and show XAGUSD. -
Open a silver chart
Drag XAGUSD onto your workspace or right-click it and choose Chart Window. Pick a timeframe that suits your style.
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Place your trade with a small size
Press
F9, set a small volume (silver is more volatile than gold), add a stop loss and take profit, then Buy or Sell.
Contract specs & the volatility to respect
Silver's contract size (often around 5,000 ounces per standard lot) and how a "pip" is defined both vary by broker — check the symbol specifications for XAGUSD with your broker. Because silver can move sharply, use smaller sizes than you would on a major pair, a firm stop loss, and our lot size calculator. Most retail traders lose money.
Start trading silver on MT4
XM offers silver (XAGUSD) on MetaTrader 4 with a free demo to practise on first. Test it with virtual funds before risking real money.
⚠ Trading forex and CFDs is high-risk and most retail traders lose money. This is not financial advice.
Affiliate disclosure: we may earn a commission if you open a broker account through our links, at no extra cost to you. Learn more.
Related guides
See also trading gold, oil, and indices on MT4, or learn how to use MT4.
Frequently asked questions
Can I trade silver on MT4?
Yes. Silver trades on MetaTrader 4 as XAGUSD, a CFD on the silver price. You can go long or short without owning physical metal. You need a broker account that offers silver.
What is XAGUSD?
XAGUSD is the price of one troy ounce of silver (XAG) quoted in US dollars (USD). On MT4 it's traded as a contract for difference, so you profit or lose from price moves without taking delivery of metal.
Is silver more volatile than gold?
Generally yes. Silver tends to make larger percentage swings than gold and is a smaller, thinner market, so risk management matters even more — use smaller sizes and a firm stop loss.
What is the contract size for silver on MT4?
It varies by broker — a standard silver contract is often 5,000 troy ounces, but some brokers use different sizes. Always confirm the contract size in your broker's symbol specifications before trading.
How much is a pip in silver?
Silver's tick and 'pip' conventions differ between brokers, and the cash value depends on the contract size. Check how your broker quotes XAGUSD, then use our pip and lot-size calculators to work out your risk.
Trading foreign exchange and contracts for difference (CFDs) carries a high level of risk and may not be suitable for all investors. Leverage can work against you as well as for you. You could lose some or all of your deposited funds; do not trade with money you cannot afford to lose. Past performance is not indicative of future results. Nothing on MT4Download.com is financial, investment, or trading advice. Consider your circumstances and seek independent advice if needed.