Allure of Gold Trading Too Powerful for Retail Brokers to Resist

GulliverFX, the UK broker 100% owned by Yahoo Japan Corporation, diversifies its trading offering with gold, silver and oil in

(Photo: Bloomberg)
(Photo: Bloomberg)

GulliverFX, the FCA regulated broker 100% owned by Yahoo Japan Corporation, has announced to its clients they can now trade on the price of gold with the firm. The broker is adding gold, silver and oil to diversify its forex offering.

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gulliverfxThe firm describes the new offering as a non-expiring futures market based on the front month (spot) futures price of gold, spot, West Texas Intermediate (WTI) – also known as Texas light sweet – and Brent crude oil.

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With the headline for the announcement made by GulliverFX to its clients being “Trade Gold with us NOW!” the popular precious metal is the main focus of the campaign. The broker is also promoting spreads from 0.6 for gold, from 0.05 for silver and from 0.06 for oil.

Shunyu Li, the broker’s international marketing manager, explained the move to Forex Magnates. She said: “As you may be aware, Gulliver FX is relatively a new guy in town, and we tend to listen to clients for what they want from us. Therefore, adding gold, silver and oil will be the first step for us to diversify our product range, and together with tightening our spreads, we aim to become more competitive in the market.”

Gold trading is seen as a crucial component for many markets. In countries where CFDs are as popular as FX (if not more so) such as the UK and Australia, gold is often the most traded instrument. In Asia, gold even holds an important role in the culture and therefore is even more popular, making it a tool for both branding and expanding trading.

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