Goldex to launch peer-to-peer gold trading system for mobile investors

Source: Goldex

Goldex, the first smart trading technology platform allowing you to invest in physical gold has launched in London. Retail customers now have the chance to easily invest in physical gold at the best prices and use it as a solid long-term store of wealth.

Goldex is a simple to use one-stop mobile app (available on the iPhone and Android app stores) providing its tech and investment savvy customers with the best gold prices and all the information needed for the full life cycle of gold investment such as market news, trade recommendations and charts.

Goldex is the first gold provider operating as an agency, not owing its own gold. This model not only makes Goldex un-conflicted and aligned with its customers’ interests but also brings “best execution” practices to a market where investors do not benefit from the fairness and transparency that regulators impose in all other investment asset classes.

The platform is crystal clear about gold prices, costs and performance *.
The app’s smart trading algorithms not only connect users with the world’s biggest gold peer-to-peer markets in five global vaults (London, Zurich, New York, Toronto and Singapore) but they identify the most optimal location and market combination at any given time for each trade. This results in average savings of 8-12% on gold purchases and sells.

Goldex believes that gold is great for storing wealth on the long-term, however also acknowledges the importance of making it instantly liquid. To this end 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, said: “The current gold establishment is pretty old-fashioned and with Goldex we are completely reinventing the way gold is being purchased and sold. We are making it fair and transparent for people who want to own gold. Whilst our app is easy to use, our business model and revolutionary technology ensures that our customers always get the best trading deals.

There is a real FinTech revolution going on and we have also seen the arrival of a new generation of gold providers. 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.

Carrasco continued: “We see a huge opportunity for gold as an asset. 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. Through Goldex we aim to be the leading provider of liquidity and purchasing power in physical gold outside the traditional banking system whilst making it fun, innovative and transparent to trade.”
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This content is contributed or sourced from third parties but has been subject to Finextra editorial review.

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