Any recommended places to buy/trade precious metals?

[urbantorque]

I was wondering what a good place would be with low transaction costs for trading precious metals contracts that are not leveraged or involve paying margin calls.

Any help would be greatly appreciated! Thanks

 

[toocool]

I was wondering what a good place would be with low transaction costs for trading precious metals contracts that are not leveraged or involve paying margin calls.

Any help would be greatly appreciated! Thanks

Buy some from the mint ??

 

[Bron Suchecki]

I work at the Perth Mint so you can consider this conflicted advice, but the Perth Mint's Depository Program is easy to trade, safe (Govt Guaranteed) and low fees.

 

[Trembling Hand]

I was wondering what a good place would be with low transaction costs for trading precious metals contracts that are not leveraged or involve paying margin calls.

Any help would be greatly appreciated! Thanks

Just because the contract requires a minimum margin to trade doesn't mean you have to actually be leveraged. Just buy the amount that makes your account un-leveraged. Simple!

Buying from the mint to trade is the MOST inefficient way to go.

 

[urbantorque]

Just because the contract requires a minimum margin to trade doesn't mean you have to actually be leveraged. Just buy the amount that makes your account un-leveraged. Simple!

Buying from the mint to trade is the MOST inefficient way to go.

I agree. I'm not interested in paying excess costs from the mint. I want to buy precious metals at pretty much at or near the spot price. For leveraged contracts do they have automatic stop losses or can you just fill the margin calls and hold onto the asset indefinitely?

Also which websites are good for trading gold/silver?

 

[Trembling Hand]

I agree. I'm not interested in paying excess costs from the mint. I want to buy precious metals at pretty much at or near the spot price. For leveraged contracts do they have automatic stop losses or can you just fill the margin calls and hold onto the asset indefinitely?

Also which websites are good for trading gold/silver?

Mate you don't seem to get what I mean about not trading leveraged. If you have $100,000 in your account just buy 100 grand worth. You will NEVER get a margin call. They will only hold 5g, for example, for margin but you are not leveraged.

And you don't trade gold/silver on websites. You trade the actual exchange listed futures. For that you need a futures account with a broker.

 

[Bron Suchecki]

Buying from the mint to trade is the MOST inefficient way to go.

If you have over $50k then there are no trading fees and you will be dealing directly with our Treasury dealers at spot (not talking coins here, mean the Depository Program). However it is not a day trading facility, more suited to medium to longer term investors.

If you are looking for day trading type, then just go with an FX trading platform or CFDs and fully margin it - just make sure the firm you are dealing with is financially sound and won't do a MF Global on you.

 

[Trembling Hand]

If you have over $50k then there are no trading fees and you will be dealing directly with our Treasury dealers at spot (not talking coins here, mean the Depository Program). However it is not a day trading facility, more suited to medium to longer term investors.

But you still cannot trade it because of the huge spread you guys put on it. You would be nutz doing any sort of transaction that wasn't long term with Perth mint.

If you are looking for day trading type, then just go with an FX trading platform or CFDs and fully margin it - just make sure the firm you are dealing with is financially sound and won't do a MF Global on you.

Bron I'm sure you know your stuff when it come to the physical but I wouldn't recommend anyone use CFDs for trading gold. For the same reason I wouldn't recommend anyone trade with the Mint. CFD gold has a massive spread. Exchange listed Futs have a 1-2 cent spread add in brokerage and its 2-3 cents. With CFDs you have to cross the spread and pay up 50 cents. That is not an instrument to trade with.

 

[nulla nulla]

I work at the Perth Mint so you can consider this conflicted advice, but the Perth Mint's Depository Program is easy to trade, safe (Govt Guaranteed) and low fees.

What sort of employee discount do they offer?

 

[urbantorque]

interactive brokers worth checking out?