Gold ETFs have become a hot commodity since its launch in Australia in 2003.
They work similarly to stocks in the sense that shares are bought just like it is in the stock market. However, unlike gold bars, jewelry, and coins, gold ETFs are not a physical asset. Instead of purchasing gold ETFs, investors put their money into the gold market.
Gold ETFs can be purchased through a fund manager or brokerage firm.
In this article, we will be reviewing some of the best online gold ETF brokers that you can consider to expand your investment portfolio. Since purchasing gold is a hefty investment, our guide will help you make the right investment decision.
Best Online Gold/ETF Brokers – Reviews & Buying guide for 2020
Best Overall: Capital
- Fees: offer most part of the brokerage service for free
- Ease of Use: simple and straightforward
- Starting Investment: 20 EUR, 20 GBP, 20 USD, or 100 PLN
Capital is a trading company with offices widespread in Cyprus, London, Gibraltar, etc., along with an esteemed research center in Minsk.
Using advanced AI technology, the investment company offers astute advice and investment suggestions to its retail as well as commercial clients. Founded in 2016, Capita has over 300,000 clients and operates in 50+ countries.
The trading platform is widespread in various parts of the world and deals with a wide range of instruments, including CFDs, Forex, stocks, among other assets.
The trading platform features a universal design that is super intuitive to use. Regardless of the user’s knowledge, experience, and focus level, the website poses zero difficulties
A glance at the website shows that special attention has been paid to its mechanism. The design and development team has also been quite effective in moving the web-based application to the mobile phone.
The mobile app offers an advanced level of technical and financial analysis without bombarding the screen with unrequired data.
Using the mobile app, you can easily locate different asset classes and their performance with the help of the red and blue line charts. The basic and easy-to-use interface is an amazing way for beginners to get into the world of investment.
Capital.com offers an awesome user experience. However, the platform is limited to beginners. While you may not face any problems such as loading delays, the product may not be ideal for advanced or experienced traders.
Professional traders may find the platform lacking crucial elements such as a lack of personalized layouts in the web platform, absence of multi-chart views, and trading orders with a lack of choices such as a trailing stop.
The biggest relief you get with using Capital.com is that it is completely safe.
The web-based platform is regulated by a bunch of governmental entities, including the Cyprus Securities and the Exchange Commission (CySEC), the Financial Conduct Authority (FCA), and the National Bank of the Republic of Belarus (NBRB).
The online gold ETF broker company offers several kinds of assets such as Forex, commodities, crypto, shares, indices, and ETFs, of course. Depending on your needs and interests, you can easily purchase the best form of investment.
The website will be able to guide you with all sorts of information, including the most traded or most volatile assets as well as risers or fallers of the day.
Capital.com’s mobile app has a few added features as well. One of them is its educational resources, such as video tutorials. Users investing for the first time can make the most of this element.
Capital.com offers competitive charges as compared to other gold ETF broker websites.
hey don’t charge any commission, withdrawal, or deposit free. However, they do have an overnight fee on each asset, which the company provides a clear explanation as to how much the percentage is charged on each asset.
Capital.com offers several investment options that you can easily study, find information on, and choose from using an easy-to-use website and mobile app.
The web- and mobile-based platform seems to be built and marketed for beginners and intermediate traders, so if you’re an experienced investor, Capital.com may not be the best option for you.
Runner Up: CHARLES SCHWAB
- Fees: online trade options cost $0.65 per contract, future trades are $1.50 per contract, $5 for automated phone trades, and $25 for broker-assisted trades
- Ease of Use: simple and straightforward
- Starting Investment: $5000
Charles Schwab is a full-service brokerage that offers an extensive array of tools and services to investors of all levels. It is more than the conventional buy-and-sell investing site, with all its relevant charts and data exhibited on a clean interface.
Interested investors can place a trade through the brokerage’s main site along with Trade Source and StreetSmart Edge – all three of them are simple and easy to use.
The online portfolio shows the cleanest visual representation of the investment. Even though the criteria to show investment profiles slightly differ in each site, it is still clear and quick to understand.
Navigation on Schwab’s mobile app is as smooth as it is on its website. The user experience is more or less the same.
Just like Schwab’s website, the mobile platform is highly intuitive, straightforward, and functional. Using the mobile app, you can check out all the available asset classes, trade them, as well as place conditional orders.
Schwab also features a wide range of offerings on all its web, downloadable, and mobile apps. Short and long stocks, penny stocks, mutual funds, bonds, other commodities, and future options are the many types of offerings by Schwab to its old and new clients.
Charles Schwab boasts plenty of benefits. But it comes with a fair share of downsides as well. The online brokerage charges high fees for some mutual funds, which can only be traded in the US and Canada markets.
The site also struggles to contain and provide a vast amount of information with ease. The online broker source may prove to be heavy on non-US clients. The minimum deposit for international clients is $25,000.
Schwab is an excellent quality trading platform that can be managed through mobile apps as well. Apart from basic features, the platform keeps a close watch on major indexes and trends. It can show any firm’s financial and trading analysis.
For more benefits, you can level up to StreetSmart Edge, which is Schwab’s flagship trading platform. This one has a customizable and user-friendly interface.
You can use the platform to get trading ideas, newsfeeds, charting, etc. The platform is also accessible from both web as well as the mobile app. What’s more, the trading platform offers a financial planner that can help you develop good money habits.
Charles Schwab is the ultimate site for investors who are interested in free research on stock markets, along with how to make money fast.
Clients get free access to news from Briefing, Reuters, among others, to analyze various investment markers and their performances, providing users with enough guidance to make a wise investment decision.
Other than offering wise suitable investment advice and ideas, Schwab also helps in the management of investment portfolios. For a complete investment guide and management, look no further than Charles Schwab.
- Fees: standard fee is $0.60 per contract
- Ease of Use: quick and simple
- Starting Investment: $10,000 – $25,000
Lightspeed is a web-based trading platform that is built for managing volatile stocks. But the company offers a wide range of trading options, which makes trading with Lightspeed supremely flexible.
The interface is also customizable that makes the trading experience all the way more engaging. You can set up a personalized Lightspeed Trader layout as well as hotkeys. This will save you from using a mouse.
You can also add tools such as LightScan to your layout and find stocks that suit your personal and financial criteria. All in all, Lightspeed is designed to make the user experience simple and straightforward, and they have done a brilliant job of achieving that goal.
One of the major drawbacks of Lightspeed is that it doesn’t offer much education to investors on the latest gold ETF trends and data.
The company also demands a minimum deposit of at least $10,000 from US clients and $25000 from international clients, which can be a hurdle for many interested investors.
Lightspeed features customer support 24/7, which can come in handy to understand the platform better. The platform also offers various means to trade on.
The corporation owns three platforms Lightspeed Trader, Lightspeed Web Trader, and Sterling Trader. Using any of these platforms, you can invest in gold ETFs or any other investment.
Lightspeed is an online broker designed for active investors and serious traders. While the platform is easy to use, it may appear confusing to casual or first-time users.
That said, at Lightspeed, it’s not rare for clients to place over a thousand trades annually. It’s one of the best online gold brokers for experienced and advanced investors/traders.
Alternative: Global Prime
- Fees: commission charges are $7 per trade
- Ease of Use: quick and simple
- Starting Investment: $200 AUD
With its headquarters in Australia, Global Prime is a reliable multi-asset broker and a global financial investment platform.
It features competent retail investors: Spread Betting trading, Forex trading, and Share Dealing trading through which you can carry out your financial investments and know that your investments are in safe hands.
Global Prime is supervised and checked by the Australian Securities and Investment Commission (ASIC). The regulatory body doesn’t manipulate the gold price and ensures the investor’s money is safe and sound.
The online broker is also used by over 10,000 users and traders, which is a testament to the fact that Global Prime is reliable. It is available in over 194 countries, including Australia, Germany, UK, China, the US, South Africa – to name a few.
One of the major drawbacks of using Global Prime is that it involves capital risk.
But that’s the case with any kind of investment you deal with. The platform also doesn’t offer hedging or scalping. Apart from accepting a minimum deposit, the platform charges withdrawal as well as inactivity fees.
As compared to other gold brokers, opening an account in Global Prime requires only a small deposit of up to 10 GBP/USD. This allows investors, especially those who are new or amateurs, to easily involve in trading or investing with Global Prime.
When it comes to trading instruments, you can trade over 128 instruments, including currency pairs, stocks, gold ETFs, cryptocurrencies, Forex (minor, major, and exotic), metals, and many more.
Once you have logged into Global Prime, you will see Meta Trader 4 as the trading platform. It’s primarily used to trade Forex but can be used for other forms of investments too. Using this platform, you can get involved with various investment opportunities and activities.
Global Prime is an incredible platform operating worldwide. It’s fully safe and secure and can be used by both beginners as well as intermediate/advanced investors.
Opening an account at Global Prime is also quick, easy, and requires only a small deposit. If you are an active and frequent investor, Global Prime will prove to be of great benefit to you.
Online Gold/ETF Brokers FAQ
Are Gold ETFs a Good Investment?
Research shows that gold ETFs offer better liquidity, and if liquidity is an important factor, which usually is as it allows converting an asset into cash without losing money against the market price, then investing in gold ETFs is a good investment option.
Unlike gold funds, ETFs also do not have any “exit load,” which is a certain fee charged on an investor upon exiting a scheme. All things considered, gold ETFs are worth considering.
How Do I Invest in ETF Gold?
You can buy shares of gold funds such as gold stocks. Keep them in a custody account and keep them safe as a long-term investment or sell them when their rate reaches an all-time high.
How Is Gold ETF Price Determined?
The net value of the gold ETF is determined by mutual funds on the basis of the number of units in the ETF and the underlying assets. But since the trading of gold ETF occurs throughout the day, its price is mainly dependent on the precious metal’s supply and demand.
Do Gold ETFs Pay Dividends?
Gold ETFs do not pay dividends if they hold physical gold or gold futures contracts. Dividends only yield profit in equity-based gold ETFs that invest gold stocks in companies or mines involved in the gold industry.
Can Gold ETF Convert to Physical Gold?
Yes, you can convert gold ETFs into physical gold based on the number of units you hold in your investment. However, the opposite can’t be done, i.e., you can’t convert physical gold into coins or ETF for that matter.
What Is the Largest Gold ETF?
SPDR Gold Trust (GLD) is known to be the largest gold ETF in the world.
We hope you found our review on the top 5 best online gold ETF Brokers Website useful. These gold ETF broker platforms are used by hundreds and thousands of investors and traders worldwide.
Whether you are an amateur or experienced financier, you will find the gold ETF brokerage in this list that best suits your needs. By choosing a broker that complements your financial needs and interests, you will be able to benefit more from your investment in the long-term.
Picking the right broker also guarantees safety, security, convenience, and the most important of all – peace of mind. So, make sure you take your time and discuss it with your partner or your family before deciding on an online gold EFT company.