Terms of use

Not advice, not an offer

Everything on Veld Terminal is educational material only. It is not financial advice, not investment advice, and not a recommendation to buy or sell any instrument. We do not know your personal financial situation, your risk tolerance, or your trading goals, so we cannot tell you what to do.

Nothing on this site is an offer to enter into any transaction. The broker, not Veld Terminal, is the counterparty to any trade you make. You should read the broker's own terms and risk disclosure before opening an account.

Risk warning

Contracts for difference (CFDs) on gold carry a high risk of loss. Gold prices can move sharply, and leverage can magnify losses as well as gains. Most retail investor accounts lose money when trading CFDs. You should not trade with money you cannot afford to lose.

The maximum leverage available in South Africa is up to 1:200 for retail clients and up to 1:500 for eligible professional clients depending on instrument. That is a cap, not a setting to aim at. At 1:200, a 0.10-lot gold position needs about $85.50 margin, but a small adverse move can wipe out that margin quickly.

Figures are dated, and affiliate links

Every figure on Veld Terminal is dated, and we tell you when we read the broker's document. Numbers change, and you must verify any spread, commission, swap, or margin requirement with the broker before you trade. We are not responsible for losses caused by outdated information.

Some links on this site are affiliate links. If you open an account through one, we may receive a commission from the broker. Your relationship is with the broker, not with Veld Terminal, and any dispute about your account is between you and the broker.

Veld Terminal provides information, not financial advice

Veld Terminal is an independent information site about trading gold as XAU/USD through FxPro from South Africa, not a financial adviser. Nothing on this site tells you to buy or sell, and no content here is personalised to your income, goals, or risk tolerance. You will not find recommendations, portfolio plans, or promises of profit. The worked margin example for a 0.10-lot at 1:200 leverage shows a margin of about $85.50, but that is a calculation, not a suggestion to take that trade.

The site explains how lot sizes, pips, and leverage work on gold where one standard lot is 100 oz and one pip is 0.01. It also describes funding in ZAR via local cards, bank transfers, and e-wallets. This is educational material, not a service that manages money or executes orders. If you need advice for your own situation, speak to an authorised financial adviser in South Africa before trading.

Veld Terminal may show tools that help you size a trade in seconds from one screen, but using them is your decision. The site is not a broker, not a market maker, and not a party to any trade you place with FxPro. Your trading account, deposits, and withdrawals are with FxPro Markets Direct Costa Rica Latam SRL or another FxPro entity, not with Veld Terminal. Always read the broker's own legal documents before opening an account.

How Veld Terminal earns from affiliate links to FxPro

Veld Terminal may receive compensation when you open a live account with FxPro through a link on this site. That compensation is an affiliate commission paid by the broker, not a fee charged to you. It does not change the spreads, commissions, swaps, or any other cost you pay when trading gold. The cost you pay depends on the account type, instrument, and market conditions, and is set by FxPro, not by this site.

The affiliate relationship means Veld Terminal has a financial incentive to encourage you to open a FxPro account. That incentive is fully disclosed here and in any article where a link appears. The site does not receive payment for general brand mentions, and no outside party can pay to have a specific opinion changed. All content is written to be factual and useful first, with the affiliate link as a secondary element.

You are never obligated to use an affiliate link. You can go directly to FxPro's website and open an account with the same trading conditions. Using a Veld Terminal link does not give you a better spread or priority support, and not using one does not penalise you. If you do use a link, Veld Terminal may earn a commission, which helps keep the site running without charging readers.

The practical limits of Veld Terminal's liability

Veld Terminal is not liable for losses you incur from trading gold or any other instrument with FxPro. Trading XAU/USD is high risk, and you can lose more than your initial deposit if you use leverage. The maximum leverage available in South Africa is up to 1:200 for retail clients, and that is a cap, not a target. Any loss from using that leverage is yours, not this site's.

The site works to keep figures accurate, but prices, margins, and broker terms change. The reference price of gold used here is about 4275.0, but that is only an example for calculations. Veld Terminal is not responsible for errors in figures, for actions you take based on them, or for any technical issue that prevents you from viewing the site. You should confirm all numbers with FxPro before trading.

Veld Terminal does not control FxPro's platforms, execution, or account servicing. If you have a dispute about a trade, a deposit, or a withdrawal, that is between you and the broker. The regulator caveat for South Africa is that FxPro is licensed by the FCA and CySEC, and an FxPro entity holds an FSCA licence in South Africa — check which entity your own account is opened with. This site cannot intervene in broker-client matters.

The law that governs these terms and your use of Veld Terminal

The law of South Africa applies to your use of Veld Terminal and to any dispute about these terms, regardless of where you access the site from. This means a South African court would have jurisdiction over a claim about the site's content or the affiliate relationship. The broker's own terms are governed by the law stated in your account agreement with FxPro, which may be different.

Veld Terminal is intended for readers in South Africa, and all examples use the rand symbol R for local funding amounts. Funding methods such as local cards, bank transfers in ZAR, and e-wallets are described because they are common for South African traders. The site does not target residents of any other country, and if you access it from elsewhere, you are responsible for complying with your local laws.

Nothing in these terms limits any right you have under South African consumer protection law. If a term is found to be unenforceable, the rest of the terms remain in effect. The affiliate disclosure and risk warnings are part of these terms, and they are written to be clear and fair. If you do not agree with the law that applies, you should not use this site.

How Veld Terminal publishes changes to these terms

Veld Terminal can change these terms at any time, and the updated version is published on this page with a new date at the top. The date of the last change is always shown, so you can see how recently the terms were reviewed. There is no email notification for changes; it is your responsibility to check this page before relying on the information.

When a material change is made, such as a new affiliate partner or a different regulator caveat, the site will note that change in the page's revision history if possible. However, the most reliable way to know the current terms is to read this page each time you visit. The site will not ask you to click to accept new terms, because you are not signing a contract with Veld Terminal.

If you continue to use Veld Terminal after a change is published, that is treated as acceptance of the new terms. If you do not agree with a change, you should stop using the site. Changes do not apply retroactively to any dispute that arose before the change date. The speed-focused tools and gold trading guides may be updated separately, but the legal terms only change through this page.

Veld Terminal is a speed tool, not a financial adviser

Veld Terminal is an information site that helps you size a gold trade in seconds from one screen, and it is not a financial adviser in any sense. The position size, margin and pip value figures you see are mathematical outputs based on the live XAU/USD price near 4275.0 and the leverage cap you select, not a personalised recommendation for your account or situation. Nothing on this page or anywhere on the site tells you whether to buy or sell gold, how much risk to take, or whether trading gold suits your goals. You remain solely responsible for every order you place with your broker and for the outcome of that trade.

The one-screen calculator exists to remove spreadsheet friction, not to make trading decisions for you. When you enter a lot size like 0.10 and see that it needs about $85.50 margin at 1:200 leverage, that number is a mechanical result of the formula: lots times 100 oz times price divided by leverage. It does not mean 0.10 lots is an appropriate size for your balance, your rand income, or your tolerance for loss. Any use you make of these figures is your own trading decision, and you must judge for yourself whether a given XAU/USD position is sensible in light of the FSCA-licensed entity you may be trading with and your own risk limits.

Veld Terminal never holds your money, never executes trades, and never sees your broker login. The site only passes you to FxPro through an affiliate link, and from that point your relationship is entirely with the broker entity that onboards you — for South African residents that is typically FxPro Markets Direct Costa Rica Latam SRL, and you should check which entity your account is opened with. Because we are not part of that brokerage relationship, we cannot comment on whether a specific trade is suitable for you, and we are not liable for any trading loss or for any difference between the calculator output and the margin your broker actually requires.

The affiliate relationship with FxPro, in full

Veld Terminal earns money when you open a live FxPro account through a link on this site and then trade, and that is the entire affiliate relationship. We are not paid per click, per view, or for sending you to the FxPro homepage; the compensation model is tied to referred clients who fund and trade. This means the site has a financial incentive for you to choose FxPro over another broker, and you should weigh that bias when you read anything here about the broker. The calculator and the educational wording are designed to be useful regardless of broker, but the only broker we link to is FxPro.

The fact that we are an affiliate does not change the numbers the calculator shows. The margin figure of about $85.50 for 0.10 lots of XAU/USD at 1:200 leverage comes from the live gold price near 4275.0 and the formula lots times 100 oz times price divided by leverage, and it would be the same if we were not an affiliate. We do not adjust pip values or position sizes to make FxPro look better, and we do not hide the fact that we may receive compensation. However, you should still compare FxPro's own terms, spreads, commissions and swaps on their site before you trade, because those costs are set by FxPro and are not something we control or display as numbers here.

The FxPro entity that serves South Africa is FxPro Markets Direct Costa Rica Latam SRL, and FxPro also holds licences from the FCA in the UK and CySEC in Cyprus, with an FSCA licence held by an FxPro entity in South Africa — check which entity your own account is opened with. Our affiliate agreement is with the FxPro group, not with a specific local branch, and the broker's terms may differ between entities. If you open an account through Veld Terminal, the broker will know you came from us, but that does not affect your trading conditions, your leverage cap of up to 1:200 for retail or up to 1:500 for eligible professional clients, or your ability to fund in ZAR by local card, bank transfer or e-wallet.

How far our liability goes, in plain words

Veld Terminal is liable only for losses that arise directly from a proven error in the calculator output that we failed to correct after being told about it, and nothing more. If the site shows a margin requirement that is mathematically wrong for the live gold price and the leverage cap you selected, and you can show that you relied on that specific wrong number and lost money as a direct result, you may have a claim. But we are not liable for any loss caused by your trading decisions, by FxPro's execution or platform downtime, by your misunderstanding of leverage, or by the fact that your broker's actual margin requirement differs from the calculator output.

The calculator is a planning aid, not a guarantee of what FxPro will charge or require. Your broker applies its own margin rules, and for South African retail clients the leverage cap is up to 1:200, while eligible professional clients may be offered up to 1:500 depending on instrument and classification. Because we cannot see your account type, your broker's real-time margin call policy, or any platform-specific adjustments, the figure you see here may differ from the margin your broker actually blocks. You should always check the margin on the broker's order ticket before you confirm a trade, and you trade on the basis of that broker figure, not on our estimate.

We are also not liable for losses caused by events outside our control, including but not limited to internet outages, price feed errors, changes in FxPro's terms, or regulatory actions. Our total liability for any claim connected to the use of Veld Terminal is limited to the amount of any affiliate commission we actually received from your FxPro account in the twelve months before the claim arose, and if no commission was earned, our liability is zero. This cap applies however the claim is framed — negligence, breach of contract, or otherwise — and it exists because the site is provided free and the risk of trading gold remains entirely yours.