Bursa Malaysia launches gold trading platform! You can trade gold 24 hours a day, 7 days a week.
The gold trading platform launched by Bursa Malaysia is called Bursa Gold Dinar, which allows the public to invest in gold at a lower cost. People can also exchange gold on the platform into physical gold coins for collection.
The Bursa Gold Dinar APP is currently available on the AppStore and will be available on the Google Play Store in the near future. If you are interested in investing in gold through the Bursa Gold Dinar APP, let’s first understand 10 things.
10 things you need to know about buying and selling gold with Bursa Gold Dinar
1. Bursa Gold Dinar is a gold trading platform launched by Bursa Malaysia, which allows investment in 999.9/24k gold.
2. Bursa Gold Dinar will use real-time quotes provided by Go Capital Growth Sdn Bhd.
3. The real-time gold quotation will be updated from 8:30 am to 11:50 pm.
4. The minimum investment amount is RM10, which will be converted into Grams.
5. Malaysian citizens aged 18 or above can open a Bursa Gold Dinar investment account.
6. To convert into physical gold coins (Physical Gold Dinar Coin), you must have at least 4.25g of gold. Courier charges, postage insurance and mintage charges apply.
7. People can only top up their Bursa Gold Dinar investment accounts from Public Bank, Hong Leong Bank, MDB, Maybank and CIMB.
8. The monthly transaction limit is RM300,000, including top-up, withdrawal and transfer.
9. The public needs to complete the transaction within 2 minutes. If the timeout expires, a new gold quotation must be used to conduct the transaction.
10. Fees
a. Recharge fee: 0.35%, minimum RM0.10, maximum RM1.00
b. Withdrawal fee: RM0.15
c. Buying fee: 0.20%
d. Selling fee: 0.20%
e. Express fee: RM10.00
f. Minting fee: RM73.40
g. Express insurance: RM13.00
h. Transfer fee: 0.20%
i. Annual management fee: 0.50%
j. Registration fee: RM5.00
