No, not as a spot XAU/USD CFD with a US-regulated retail broker. Under section 2(c)(2)(D) of the Commodity Exchange Act, a leveraged commodity transaction offered to a retail customer must be executed on a regulated exchange, unless it results in actual delivery within 28 days. You can still trade gold through futures, ETFs, mining shares or physical metal.
The direct answer
You cannot open a spot XAU/USD CFD with a US-regulated retail broker. If you have been clicking through platforms wondering what you are doing wrong, the answer is nothing. The product is not offered to you because of how US law classifies it.
You can still take a position on the gold price. Those are two different statements, and mixing them up is why this question causes so much confusion. The instrument is restricted. The market is not.
The reason
Gold is a commodity, not a currency. So it does not travel the retail forex road that EUR/USD travels.
Under section 2(c)(2)(D), leveraged, margined or financed commodity transactions offered to retail customers must be conducted on a regulated exchange. The relevant exception covers contracts that result in actual delivery within 28 days. That means genuine physical dealing, not leveraged speculation.
On top of that, off-exchange CFDs to retail customers are unlawful unless the counterparty is a regulated entity listed in section 2(c)(2)(B)(ii). The full reasoning is in how to trade gold in the US.
Offshore brokers
Offshore firms do onboard US residents for gold CFDs, often advertising leverage no domestic firm could offer. The real question is not whether you can click the button. It is what you own when something goes wrong.
With an unregistered offshore counterparty, there is no CFTC-registered firm on the other side, no NFA arbitration, and no realistic path to recovering funds if withdrawals stall or the firm collapses. You are trading on trust.
Check any firm that solicits you against NFA BASIC, the National Futures Association's free public background database. Absence is your answer.
High advertised leverage is also not the benefit it appears to be. See what leverage really is and risk of ruin.
What to do instead
- Gold futures. Traded on a US regulated exchange through a registered FCM. This is the closest equivalent, with smaller contract sizes available for retail accounts.
- Gold ETFs. Held in an ordinary brokerage account. Simplest access, no expiry to manage, and an expense ratio to weigh.
- Mining shares. Leveraged exposure to gold plus company and jurisdiction risk. Not a clean proxy.
- Physical metal. No leverage and no trading counterparty, but you pay spreads and storage.
Compare the first two in gold futures versus ETFs. We do not recommend specific funds or products. Where we mention HFM, we are a partner and earn commission. See our disclosure.
Caveat
This is general education, not legal or investment advice. It reflects publicly available CFTC material as at 20 July 2026. Rules change, and how they apply depends on the product and counterparty. Verify with the CFTC and NFA before acting.
Questions
Why don't US brokers offer XAUUSD?
Gold is a commodity, not a currency, so it falls outside the retail off-exchange forex regime. Leveraged retail commodity transactions must go through a regulated exchange.
Does this restriction apply to gold ETFs?
No. Gold ETFs are securities traded on exchanges under SEC regulation, held in an ordinary brokerage account. The rules above concern leveraged off-exchange retail commodity transactions.
70–80% of retail investor accounts lose money trading CFDs. This page is education, not advice. All trade examples are constructed composites.
