US Spot Gold Trading launched on Interactive Brokers

Interactive Brokers Group – which specialises in providing custody of securities, forex, and commodities alongside automated trade execution – has recently launched US Spot Gold Trading. This is the Group’s next step in broadening its offerings of asset classes, and will allow US clients to trade in spot gold in quantities as little as just one ounce. The transaction will also be able to be executed from one single and integrated account, alongside additional asset classes.

Interactive Brokers also revealed that from 17th May, its US clients will also have the option of requesting a physical delivery settlement of both Silver and Gold futures from a personal account.

With Interactive Brokers adding spot gold to its already broad range of products, US clients will now gain direct access to the asset during a period when a number of experts are expecting inflation to rise. Gold is often used to hedge against inflation, commonly acting as a safe haven against macroeconomic and geopolitical uncertainty.

Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers, said:

Steve Sanders, Interactive Brokers

Steven Sanders
Source: LinkedIn

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.

US clients of Interactive Brokers are now able to trade US spot gold just as they would be able to trade other products, like bonds, stocks, options, currencies or futures. Gold transactions in the US are known for having transparent and also low tiered commissions, ranging from trade values of 0.7 bps to 1.5 bps, and with a price of at least $2.00. These transactions are priced using tight spreads, available in very small quantities, starting at one ounce.

As previously mentioned, from 17th May, clients will also have the means to request delivery settlements of Micro Gold, Micro Silver, COMEX Gold and Silver Futures. These will come in the shape of a registered warrant or ACE, whether a full size or a Micro contract is requested. Customers who meet the necessary requirements will then be able to express an intention to either make or take delivery from Trader WorkStation on a direct basis.

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