Terms of use

Educational material only

The pages here are educational material only. They are not advice, not a recommendation and not an offer to buy or sell any instrument, and they are not tailored to your objectives, financial situation or needs.

We are not a broker, bank or licensed adviser, and we do not hold an Australian financial services licence. Decisions about an account, a position or a deposit are yours, and so are their consequences.

The risk is real

CFDs on gold carry a high risk of loss and most retail accounts lose money. Leverage magnifies both directions, and at 1:200 a 0.10-lot gold position needs about $85.50 margin, which is a cap on what you must post rather than a limit on what you can lose.

Gold can move sharply on news, and a position can pass your margin buffer faster than you expect. Trade only with money you can afford to lose, and treat any figure on this site as an illustration rather than a forecast.

Dated figures and affiliate links

Figures are dated, and they must be verified with the broker before you rely on them. Contract specifications, margin requirements and platform availability change, and the broker's own documents are the version that binds your account.

Some links are affiliate links, which means the desk may be paid a referral fee when a reader opens an account. That fee does not change what you pay the broker, and your relationship is with the broker, not with this desk.

What Murray Sandbox Is and Is Not: Information, Not Advice

Murray Sandbox is an information service about trading gold (XAU/USD) and the mechanics of using FxPro as an Australian resident; it is not a licensed adviser and does not give personal financial advice. Every explanation, worked example and calculator output is general information only. It does not consider your objectives, financial situation or needs, and it is not a recommendation to buy or sell any instrument. Before acting, you should assess whether the information suits your circumstances or seek advice from a professional who holds the appropriate Australian licence.

Murray Sandbox is not a broker, a market maker or a custodian of client money. It does not execute orders, hold funds, set spreads or manage accounts. All trading takes place on FxPro's platforms — MT4, MT5, cTrader and the FxPro app — under your agreement with FxPro UK Limited. Any funding you send via PayID or bank transfer goes to FxPro, not to this site. When you place a 0.10-lot gold trade, the margin requirement and execution are determined by FxPro, not by anything published here.

Murray Sandbox is not a source of real-time prices and does not guarantee that any figure reflects the live market. The reference price of approximately 4275.0 is illustrative, and worked examples such as the $85.50 margin needed for a 0.10-lot gold position at 1:200 leverage are static teaching aids. Actual prices, margin and outcomes depend on FxPro's terms and market conditions at the time of your trade. Use the site to understand concepts, then confirm all live details directly with your broker.

Limits of Liability in Plain Words: What You Accept When You Use This Site

By using Murray Sandbox you accept that you are responsible for your own trading decisions and that we are not liable for any loss you incur. The information is provided as is, and while we aim for accuracy, we do not warrant that every statement is complete, current or error-free. Market conditions change, FxPro's terms can change, and a worked figure such as the $85.50 margin for a 0.10-lot gold position at 1:200 leverage may not match your live account. Verify before you trade.

To the fullest extent permitted by law, Murray Sandbox excludes liability for any direct, indirect or consequential loss arising from your use of the site or reliance on its content. This includes losses from trading gold (XAU/USD), from funding an account via PayID or bank transfer, or from any interruption to the site. Nothing in these terms excludes rights you have under the Australian Consumer Law that cannot lawfully be excluded, but where the law allows, our liability is limited to resupplying the information or the cost of doing so.

You also accept that trading is high-risk and that you can lose more than you deposit in some circumstances. Murray Sandbox does not control FxPro's execution, spreads, swaps or platform availability, and we are not responsible for any acts or omissions of FxPro UK Limited. If you are unsure about your obligations or the risks, stop and seek independent advice. Your use of the site confirms that you understand this allocation of responsibility and that you will not hold Murray Sandbox liable for outcomes that depend on your own choices.

The Affiliate Relationship in Full: How Murray Sandbox Is Paid

Murray Sandbox earns money through affiliate links, which means we may receive a payment from FxPro if you click through to their site and open an account or fund it. This payment comes from FxPro at no additional cost to you and does not change the price you pay for trading. The arrangement helps fund the writing and maintenance of the site. We do not accept payment to alter facts, hide risks or present unsupported claims about costs.

The affiliate relationship does not give FxPro editorial control over what we publish. We decide which topics to cover and how to explain them, including the caveat that FxPro is licensed by the FCA (UK) and CySEC but does not hold an ASIC licence, so Australian residents deal with an offshore entity. That statement appears because it is accurate and important, not because any commercial partner asked for it. Our editorial angle is an honest, useful trading toolkit, and affiliate revenue supports that without directing conclusions.

You are never obliged to use our links. If you prefer, you can go directly to FxPro's website and the outcome for you will be the same. The presence of an affiliate link is not a recommendation that FxPro is suitable for you. Weigh the offshore entity status, the leverage cap of up to 1:200 and your own risk tolerance before funding. Any payment we receive is disclosed here in full so you can judge the information with that interest in mind.

The Law That Applies to These Terms: New South Wales, Australia

These terms are governed by the laws of New South Wales, Australia, and you agree to submit to the non-exclusive jurisdiction of the courts of that state. This applies regardless of where you access the site from, including if you are reading in another country. If any provision is found to be unenforceable, the remaining provisions continue in force. The governing law does not override any mandatory consumer protections available to you under the Australian Consumer Law.

The choice of New South Wales law does not mean Murray Sandbox is licensed or regulated by ASIC. It is not. The governing-law clause simply determines which legal system interprets these website terms. Your trading relationship with FxPro is separate and is governed by FxPro's own client agreement, which will specify its own governing law and regulatory disclosures. FxPro is licensed by the FCA (UK) and CySEC and does not hold an ASIC licence, so Australian residents deal with an offshore entity — check this before funding.

Where a dispute arises about these terms, the courts of New South Wales have jurisdiction, but this does not prevent you from bringing a claim in another court that has lawful jurisdiction over the matter. Nothing in this clause limits your right to complain to an appropriate Australian regulator about conduct that falls within its remit, or to seek remedies under the Australian Consumer Law. The governing-law provision is intended to give certainty about interpretation, not to remove protections you already hold.

Checking the Offshore Entity Before You Fund: The ASIC Caveat in Practice

Before you send any money, confirm that you understand FxPro does not hold an ASIC licence and that Australian residents therefore deal with an offshore entity. FxPro is licensed by the FCA (UK) and CySEC, which are overseas regulators, and those licences do not automatically give you Australian dispute-resolution pathways. The practical step is to read FxPro's client agreement, identify which entity you are contracting with, and check what compensation or complaint mechanisms apply. Do this before using PayID or bank transfer to fund an account.

The offshore status affects how you resolve a problem. If a dispute arises with FxPro UK Limited, you will generally be dealing with a foreign regulator and a foreign legal process rather than an Australian one. That does not mean there is no protection, but it does mean the protection depends on the entity and the jurisdiction. Murray Sandbox states this caveat because it is a material fact for Australian readers, not because it is required by a commercial partner. Verify it yourself on FxPro's website and in the client agreement.

The leverage cap of up to 1:200 is available to Australian residents through the offshore entity, and it is a cap, not a target. At 1:200, a 0.10-lot gold position needs about $85.50 margin, but that figure depends on the reference price and FxPro's margin terms at the time. Higher leverage magnifies both gains and losses, and an offshore counterparty adds a layer of risk that domestic regulation would otherwise address. Fund only what you can afford to lose, and treat the ASIC caveat as a prompt to do your own checks.

How Changes to These Terms Are Published: Date, Notice and Continued Use

Changes to these terms are published on this page with a revised effective date at the top, and the updated version takes effect when it is posted. We do not send individual notices for every edit, so you should check this page periodically if you want to stay current. Where a change is material, we will make that clear in the page text rather than burying it. Continued use of Murray Sandbox after a revision means you accept the terms as changed.

The revision date is the single source of truth for which version applies. If you need to know whether a particular statement was in force when you read it, refer to that date and, where available, archived copies. We do not backdate changes or remove the record of previous effective dates from the page history where we can preserve it. This approach keeps the audit trail simple and lets you see that the affiliate disclosure, liability limits and governing-law clause were published before you relied on them.

We may change these terms to reflect new content, corrected facts or legal requirements, and we will not apply a change retrospectively to alter rights that have already accrued. If you do not agree with a revision, your remedy is to stop using the site. Because trading involves real money and offshore counterparty risk, we encourage you to review the terms whenever you return after a long absence. The current version, with its effective date, is the only version that governs your use.