We are excited to announce that from Thursday 19 March 2020, Gold will be enabled as a new currency in the Admiral Markets wallet in Trader's Room.
The Admiral Markets wallet is a central account that can link trading accounts with funds held in bank accounts, e-wallets, credit cards and more. This feature empowers traders to make deposits directly to their wallets, rather than having to fund individual trading accounts, and it protects deposited funds from any open positions held in their trading accounts.
Being able to choose Gold as an account currency gives traders yet another way to diversify their portfolios, and gives buy-and-hold investors a way to hold long-term positions on the precious metal. It's simple - if you're going to be parking your money anyway, why no park it in Gold?
Investing in Gold
Gold has always been respected throughout the world for its value and rich history. Compared to paper currency, coins, or other types of assets, gold has preserved its value throughout the years, and people use it as a way to pass their wealth from one generation to the next.
While the metal is used in commercial and industrial activities, such as in jewellery and mobile phones, it is also heavily speculated on by traders, hedge funds and even central banks and is widely traded on in times of economic uncertainty. In fact, during these times, the gold trading price tends to increase as investors flock to the metal as a safe-haven asset - one that is used for electricity and heat but that can also be melted into a form of currency.
Exchanging your funds for Gold
In the Admiral Markets wallet, exchanging your funds for Gold is just as simple as exchanging them for any other fiat currency. Simply choose how much money you would like to exchange for Gold, and we will instantly convert it into units of the precious metal based on the price per ounce at the time of exchange.
You can also exchange your Gold balance back into a fiat currency, again based on the price per ounce of Gold at the time of exchange. Like other currencies, because the price of Gold fluctuates throughout the trading day, you could get more or less than expected depending on the price at the time of the transaction.
Note that you will not be able to withdraw physical Gold from your account.
Spending your Gold
When you are ready to put your Gold towards your trading, it's simple - just choose to fund your trading account with your available Gold balance, and the funds will be transferred directly from your wallet to your account so you can start trading and investing immediately.
Diversify your portfolio today!
One of the fundamental principles of risk management is diversification, especially in volatile markets. Admiral Markets is proud to give clients access to trading and investing on thousands of global markets all from a single trading account, meaning you can create a diversified portfolio with just one broker.
This outstanding new feature of making Gold an available currency in your wallet is just one more step we're taking to empower you to diversify your assets, even if you aren't actively trading them. Simply log in to Trader's Room to exchange your funds for Gold today!