While many trust in gold as a savings investment for the future, you might be wondering if it’s possible or smart to trade gold with HelloGold.
Let us explain further.
Much like day trading with stocks and forex, you can trade gold daily to profit from its price movements in the market. The most common way is through a futures contract which you typically close out before the end of each trading day. Another way is to trade in and out of a gold ETF such as TradePlus Shariah Gold Tracker.
So yes you can trade gold, but typically you need to invest a large sum for day trading to be practical and profitable.
For example, if you buy the minimum lot size of 100 units with a price of RM1.765 with TradePlus Shariah Gold Tracker, you can buy RM176.50 of the local gold ETF. On the other hand, when you buy through Rakuten Trade, the fee would be about 4%. You would pay the same fee again when you decide to sell the ETF. In total, you would be paying 8% in a single trade!
In the above example, the gold spot price would have to increase by 8% on that day for you to just break even. If you were to break even at a 0.1% movement, you would have to buy RM170,000. Therefore, you can imagine how much higher gold prices would have to increase in a day for you to make a good profit.
The best gold spot price in Malaysia
This is where HelloGold shines: our buy are sell fees are only up to 2%, which is a 5th of the average stockbroker’s! This makes it much simpler and cheaper for everyone to start saving gold.
HelloGold’s Promise
Whether it’s to save for your future or simply day trade, HelloGold will always have the best prices and the lowest fees
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