Does anybody trade gold and silver online? I've been looking into online trading into gold and silver as I want to invest in bullion. I've not made my mind up how I want to invest. I've considered buying physical metals which is obviously relatively safe (as long as you have the storage and security), however I am aware of risks of trading online.
Any ideas?
Buying Gold and Silver online?
Buying Gold and Silver online?
“Tough times don't last, tough people do, remember?”
Area 3
Area 3
Re: Buying Gold and Silver online?
I don't trade.
If you can't hold it in your hand it's not yours.
My bullion coins are for long term investment of + 10 years or more.
I, along with a few other Mods have had great service from:
atkinsonsbullion.com
No affiliation with the above company.
If you can't hold it in your hand it's not yours.
My bullion coins are for long term investment of + 10 years or more.
I, along with a few other Mods have had great service from:
atkinsonsbullion.com
No affiliation with the above company.
Two is one and one is none, but three is even better.
Re: Buying Gold and Silver online?
pseudonym wrote:I don't trade.
If you can't hold it in your hand it's not yours.
My bullion coins are for long term investment of + 10 years or more.
I, along with a few other Mods have had great service from:
atkinsonsbullion.com
No affiliation with the above company.
^^ What he said. Several bullion houses also have a 'Vault' where you invest in their Gold and Silver and they 'keep' it for you. I know the Royal Mint does, http://www.royalmint.com/bullion/the-vault I don't trade, too risky.
Life isn't about waiting for the storm to pass, it's about learning to dance in the rain~anon
Re: Buying Gold and Silver online?
As above, as far as prepping is concerned.
As far as income is concerned, I've once again opened a demo account with a nameless-on-here spreadbetting firm, just this week, and saw that what they call "cash gold" is a little bit less volatile than the high jinks in even the FTSE, let alone the Dow. I've done a couple of trades (its a demo account, remember, not real money) mostly to test my understanding of current software, and I stand at the grand total of a loss of 2p (out of an imaginary £10,000). If I can make a hundred imaginary pounds every week for a month, I'll consider opening a real account for real money - a lot less than £10k, let me tell you
Its absolutely **not** a safe way to invest, or even an unsafe way to invest. The companies call it "betting" for good reason, no matter what you know about fundamentals and technicals, that's what it is.
As far as income is concerned, I've once again opened a demo account with a nameless-on-here spreadbetting firm, just this week, and saw that what they call "cash gold" is a little bit less volatile than the high jinks in even the FTSE, let alone the Dow. I've done a couple of trades (its a demo account, remember, not real money) mostly to test my understanding of current software, and I stand at the grand total of a loss of 2p (out of an imaginary £10,000). If I can make a hundred imaginary pounds every week for a month, I'll consider opening a real account for real money - a lot less than £10k, let me tell you
Its absolutely **not** a safe way to invest, or even an unsafe way to invest. The companies call it "betting" for good reason, no matter what you know about fundamentals and technicals, that's what it is.
Re: Buying Gold and Silver online?
AREA 3
I'm not antisocial, just anti idiot.
If you use the phase "man up" you have alot to learn.
"Wise men speak because they have something to say, fools, because they have to say something" Plato.
I'm not antisocial, just anti idiot.
If you use the phase "man up" you have alot to learn.
"Wise men speak because they have something to say, fools, because they have to say something" Plato.
Re: Buying Gold and Silver online?
Thanking you - interesting read.
“Tough times don't last, tough people do, remember?”
Area 3
Area 3
Re: Buying Gold and Silver online?
Arzosah wrote:As above, as far as prepping is concerned.
As far as income is concerned, I've once again opened a demo account with a nameless-on-here spreadbetting firm, just this week, and saw that what they call "cash gold" is a little bit less volatile than the high jinks in even the FTSE, let alone the Dow. I've done a couple of trades (its a demo account, remember, not real money) mostly to test my understanding of current software, and I stand at the grand total of a loss of 2p (out of an imaginary £10,000). If I can make a hundred imaginary pounds every week for a month, I'll consider opening a real account for real money - a lot less than £10k, let me tell you
Its absolutely **not** a safe way to invest, or even an unsafe way to invest. The companies call it "betting" for good reason, no matter what you know about fundamentals and technicals, that's what it is.
I have played around with spread betting before and have not done it with big money. Some brokers are there to just get you to invest heavily so that they can get you to have enough confidence to use lots of real money especially if you are new. Some say that they give you training and in some manner they do. The only thing I really learned about was the "average down strategy" (well worth a google for if you are interested). And that can work if you play it right, but if the market goes against you sharply it can be disastrous. Always know when the daily news is coming out.
The ones I would keep away from are
Plus500
markets.com
Also DON'T register for more information with many spread betting and and binary trade websites as you will get more spam phone calls than you can handle. I had to block the whole of a county (Italy) on my phone to stop them from coming in.
I am waiting patiently for octatrader to get regulated by UK law before using them and I am already dipping tentatively into finspreads.com which is run by City Index and is therefore reputable. These days Finspreads has trailing stops which is a great plus point, but it works differently than other programs. The web based system is great, but a bit slow to operate. I am using their beginners account that gives me the freedom to use guaranteed stop losses if I feel ultra cautious.
reperio a solutio
Resident and Co-Ordinator of AREA 2
Area 2 = Hampshire, Berkshire, Oxfordshire, Bucks
Resident and Co-Ordinator of AREA 2
Area 2 = Hampshire, Berkshire, Oxfordshire, Bucks
Re: Buying Gold and Silver online?
Averaging down isn't a favourite of mine, Nick. I avoid opening, closing and big news, and then use a combo of candlesticks, macd, and moving average crosses. Did well yesterday on the demo account, and I agree with you about the trailing stops, they're wonderfulnickdutch wrote: ... The only thing I really learned about was the "average down strategy" (well worth a google for if you are interested). And that can work if you play it right, but if the market goes against you sharply it can be disastrous. Always know when the daily news is coming out.
...
Re: Buying Gold and Silver online?
I would avoid paper gold and buy physical.
If you want to store it yourself the ATS Bullion (just by The Savoy in London) is good as is coininvestdirect.com. if you want someone else to store it for you then goldmoney.com is worth a look.
I've used all 3 without a problem.
If you want to store it yourself the ATS Bullion (just by The Savoy in London) is good as is coininvestdirect.com. if you want someone else to store it for you then goldmoney.com is worth a look.
I've used all 3 without a problem.