The Interactive Brokers Group announced its clients will now be able to trade the popular commodity in as little as one ounce. Coupled with low commissions, trading on US gold offers conservative investors a means to hedge against inflation and unexpected market conditions.
Trading US Gold
Spot gold will be available for trading like any other instrument, such as forex or stocks and can take place from the same live account. The broker will charge a commission of between 0.7 bps and 1.5 bps of the trade value alongside a minimum commission of $2.
The value of gold has risen in recent years, mainly due to the impact of the global pandemic on major stock markets. And whilst often considered a longer-term asset, short-term traders can now speculate on the price of the precious metal.
From the 17th of May, the broker will also allow physical delivery settlement of COMEX Gold, Micro Gold, Silver and Micro Silver Futures. Settlements will take place as a registered warrant or automated certificate of exchange (ACE).
The company’s Executive Vice President of Marketing and Product Development, Steve Sanders, commented “Interactive Brokers’ advantage has always been our low cost, advanced technology and breadth of product worldwide for sophisticated individual traders and institutional investors. The addition of spot gold and physical metals delivery continues our mission to equip our clients with the products and tools they need to succeed in all market conditions.”
About Interactive Brokers
A familiar name in trading circles, IB has been around for over 40 years and holds $6 billion in equity capital as well as a string of office locations around the world. Particularly popular among high-volume traders, Interactive Brokers offers the comprehensive Trader Workstation (TWS) platform, available on desktop and mobile devices. Clients can access leveraged trading on CFDs, forex, cryptos, stocks, futures, e-minis, and options. Fees are competitive with fixed commission rates from $0.005 alongside leverage up to 1:50.
Interactive Brokers is a SEC and FCA-regulated broker geared towards experienced and institutional traders. Many of its active clients will be pleased to now have the opportunity to start trading US spot gold at low rates.