How to Buy Gold with Revolut

Can I Buy Gold with Revolut? 

Yes, Revolut allows you to buy gold directly through its app, offering quick access to precious metals like gold, silver, platinum, and palladium.

But, there are a few things to watch out for. Revolut charges a 0.25% base fee on gold trades, with spreads often going beyond 1.5%, which can drive up costs compared to other platforms.

More importantly, Revolut’s commodities service isn't regulated by the Financial Conduct Authority (FCA), raising potential security and compliance risks for investors.

‍

How to Buy Gold with Revolut

You can buy gold using your Revolut account, but eToro offers a more cost-effective solution. Trusted by over 30 million investors across 100 countries, eToro has lower fees starting at 0.15%, and it's FCA-regulated, adding a layer of security. It also gives you access to over 4,500 stocks, ETFs, and commodities like silver and platinum. Plus, it supports direct deposits from both Revolut personal and business accounts.

Here’s how to get started:

1. Sign Up: Visit eToro, create your account, and verify your identity.
2. Deposit Funds: Log in, click 'Deposit Funds,' and select your currency.
3. Select Payment Method: Choose Revolut for a direct bank transfer from your personal or business account.
4. Invest: Once your funds are deposited, start buying gold or explore other assets.

‍

Revolut Gold Fees

Revolut’s gold fees can add up fast. Premium and Metal users pay 1.49%, while Standard and Plus members are hit with a 3% fee. On top of that, Premium and Metal accounts come with a monthly charge of £12.99 or £120 per year.

For a cheaper option, eToro is hard to beat. They offer zero commission on gold ETFs like SPDR Gold (GLD) and keep spreads near 1%. If cutting costs is your goal, eToro offers a more wallet-friendly alternative than Revolut.

‍

Is Revolut Good for Gold and Commodities?

Revolut might not be the best choice for commodities investing. Its high transaction fees and large spreads can eat into your returns. Premium users face a subscription cost of £12.99 per month or £120 per year, adding to the expense.

More importantly, Revolut’s commodities services aren’t regulated by the FCA, raising concerns about security and oversight. Given these factors, you might be better off exploring other regulated, lower-cost platforms to meet your commodity investment goals.

‍

Bottom Line

In conclusion, while Revolut offers easy access to gold and other commodities, its high fees, large spreads, and lack of FCA regulation make it less ideal for serious investors.

Platforms like eToro, which provide lower costs and regulatory security, are likely better suited for those looking to maximize returns and minimize risk.