Goldex’s new app strikes gold
Goldex, a trading platform to invest in physical gold, has officially launched in London, making its app available for both iPhone and Android from today (16 July).
Goldex provides “all the information needed for the full life cycle of gold investment such as market news, trade recommendations and charts”.
The firm just acts as a mediating agency, not owning its own gold, and attempts to address the fact that “investors do not benefit from the fairness and transparency that regulators impose in all other investment asset classes”.
That’s why the platform claims to be crystal clear about gold prices, costs and performance.
The app links users with “the world’s biggest gold peer-to-peer markets”, in London, Zurich, New York, Toronto and Singapore. According to the firm, this results in average savings of 8-12% on gold purchases and sells.
The platform allows customers to turn gold into cash with the first pre-paid Mastercard that is automatically linked to the value of the physical vaulted gold.
Sylvia Carrasco, CEO of Goldex, says: “The current gold establishment is pretty old-fashioned. We are making it fair and transparent for people who want to own gold. However, ultimately, there has been no real change in the status quo: gold investors still suffer abusive practices because there is no financial regulator supervising the market.”
According to the World Gold Council, the global investment demand for gold has grown at an average of 18% per year since 2000 and physical gold is currently trading about $200 billion a day.
On the topic, Goldex is not the only gold-focused app. Glint is a start-up which has introduced physical gold as money to spend as a currency via an account and mobile app..