Gold ownership has been valued and revered since the dawn of time. Thanks to its rare and compelling nature, the metal is regarded as a symbol of wealth, royalty and achievement world-wide. Gold’s standing as one of the key elements in financial markets hasn’t changed much over the years. Today, the price of gold is determined by demand, and although it is no longer used as a standard (America dropped the gold standard in 1971), it still is a major financial asset for countries and central banks. The price of gold is often linked to the movements of the dollar and is still considered a safe-haven for traders and investors around the world. Most experts agree that gold is an effective portfolio diversifier and its volatility tends to be substantially more stable than other financial instruments.
The use of gold as trading collateral is a fairly recent development in terms of investment trends but an increasing number of countries are now adopting the practise. The internationally renowned forex broker, Forextime Limited (FXTM), has embraced this development and has officially announced that it will be providing its clients the opportunity to buy, sell and use gold as tradable collateral via their trading accounts. By expanding its services through one of the world’s largest online gold providers, BullionVault, FXTM is once again one of the first brokers to step out of the norm in terms on forex trading services.
This new addition to the broker’s offering opens up a new door for traders to take advantage of the monetary value of gold. It is stored in a high security Swiss vault, so FXTM guarantees its safety.
Nandik Barbhaiya, the Head of E-commerce at FXTM says: “Giving our clients the opportunity to reap the natural benefits that come from gold has been in our plans for a while, and we are all very excited to provide them with this new way to enhance their portfolios. We work-hard to continually grow our products and services and to accommodate the needs of all types of traders, regardless of expertise and location.”
Last year FXTM launched a series of unique services such as their own copy-trading program, FXTM Invest, and the FXTM Shares account- which secures direct liquidity from the NYSE and NASDAQ stock exchanges. They also gave Nigerian clients ability to fund their accounts in Naira or Nigerian Kobo.