3 things to know about trading Commodities on Revolut

Revolut Singapore

 · 03/14/2022  · 03/14/2022

Commodities is now available on the Revolut app in Singapore. You can purchase gold and silver exposure easily on Revolut using any of our 28+ in-app currencies.

Why gold and silver?

Gold and silver have historically been go-to assets during inflation. They have performed well through financial crises and in uncertain times as people turn to precious metals to safeguard the purchasing power they have earned and saved.

So, if you are curious about investing in precious metals, here are 3 things to know about doing so on Revolut.

You're not buying physical gold or silver

Gold (XAU) and Silver (XAG) are both recognised as currencies in the FX markets. Revolut gives you the ability to convert your fiat currencies (e.g, SGD, USD) into XAU and XAG. The precious metals purchased through the app are backed by equivalent physical metal(s).

When you trade, Revolut will buy and sell the physical precious metals that are held by Revolut Ltd with a member of the London Bullion Market Association, secured in a vault on trust for customers.

You don't have to pour in a huge amount of money to get started

You can purchase gold or silver exposure for as little as $0.01. Revolut even lets you buy precious metals exposure using spare change rounded up from your card payments. For Metal plan customers, you can opt to get your 1% cashback in gold/silver exposure.  

You don't pay storage costs or custodian fees

Because you'll never have to worry about hidden fees with Revolut, all charges are levied at the time of placing a buy or sell order. Revolut does not charge on-going custodian fees. The fees you pay depend of your subscription plan:

Standard customers: 1.5%
Premium/Metal customers: 0.5%

You should also know that Revolut's Precious Metals service is not regulated under the Payment Services Act 2019 ("the Act") and is therefore not safeguarded in accordance with the relevant safeguarding provisions of the Act. In the unlikely event of Revolut's insolvency, the gold and silver will be sold and proceeds will be transferred to a ring-fenced account and then transferred back to the customer's e-money account.

This post should not be taken as financial advice and your capital is at risk.