When you open an account and buy gold through Goldex, you agree to pay us a monthly fee in respect to the vaulting and insurance of your physical gold positions. Every single milligram you own is allocated 999.5 investment grade, LBMA approved, responsibly-sourced, physical gold. Your gold is held in trust and in your name, and is stored in world-class, secured vaults and fully insured.
This fee is charged at the rate of 0.02% per month on the total value of your gold holdings, with a £3.75 minimum (please refer to our FAQs section Fees / Fees & Commissions for more detailed information on how we calculate Vaulting Fees)
We send a reminder to all users on the 23rd day of each month via a push notification, to make sure they have enough money in their Cash balance to cover the cost of vaulting… and again on the 25th day of each month only to those specific users that do not have enough available funds to cover this fee. Please note that if you do not have enough funds in your account, the app will automatically sell a portion of your gold to cover the cost as applicable on the 1st day of the month.