Depository Online buying and selling
- How do I buy or sell gold, silver or platinum?
- What are the trading hours of Depository Online?
- Can I trade on margin or 10% deposit?
- What is a Market order?
- What is a Limit order?
- When will orders be executed?
- Is it possible to cancel my order?
How do I buy or sell gold, silver or platinum?
To place an order:
- Login to your Depository Online account
- Click the "New Order" tab
- Select an Action - Buy or Sell
- Select the Bullion to trade - Gold, Silver or Platinum
- Select an Allocation Type - Unallocated, Pool Allocated or Allocated
- Select an Order Type - Market or Limit (see below for an explanation of these types)
- Select whether you want to order by a dollar amount or by troy ounces
- Enter the amount of your order
- Click "Go to Step 2"
- The system will calculate the order details and fees
- Click "Submit Order" to accept or "Go Back" to adjust your order
Note that the system will grey out those Actions, Bullion and Allocation Types that are not available. For example, if you only have cash in your account, the Sell action will not be available. On the second Submit Order page the precious metal price is only fixed for 15 seconds and the system will recalculate the order every 15 seconds to reflect current spot prices until you submit the order. After you submit an order a confirmation will be emailed to you.
What are the trading hours of Depository Online?
Depository Online trades 24 hours, 7 days a week, provided there is sufficient international market liquidity available at the time of the transaction. Market liquidity is generally highest during the working week, which for precious metals markets extends from 6am Sunday to Friday 5pm, US eastern time. During these hours there is greater market liquidity which should ordinarily enable us to offer you better bid/offer spreads.
Can I trade on margin or 10% deposit?
We do not extend credit or allow trading on margin in any circumstances. As you can only purchase precious metal to the value of money in your account, you must first deposit money into your account (see our Paying for your order FAQ for more details).
What is a Market order?
Market orders do not have a price limit. The purchase or sale always takes place at the price offered by us at the time of the execution of the order. Normally the execution will occur immediately at current market prices as displayed on the website.
If you place a market order when the Depository Online website is not quoting a live price the system will hold your order until the system is back online. In such situations the market price may have moved since you placed the order and we will only execute it if the current market price less than 10% from the market price at the time you placed your order. If you do not wish to take this price risk, we suggest you cancel any pending orders.
What is a Limit order?
Limit orders always contain a price limit. You must specify a maximum (limit) price for buying orders and you must specify a minimum (limit) price for selling orders. A limit date must also be specified, which is the latest date the limit order can be executed.
The order will only be executed when the limit price is reached. The order will keep the order status "open" until the limit order will be executed or the duration date has been reached.
When will orders be executed?
Orders are executed as swiftly as possible, if possible directly after your order has been received or ultimately on the same day that the order is received. Market orders are executed no later than the end of the business day on which the order is received by us.
When you see your order's status change to "Completed" the metal price of your order has been fixed.
Is it possible to cancel my order?
When your order has the status "Open" you are able to cancel your order. As soon as your order reaches the status "Completed" or "Processed" it is not possible to cancel the order anymore. See our Monitoring FAQ for more details.