I actually have the cheapest way to invest in precious metals. It's via a spreadbetting company called BUX Markets.
They don't charge any financing on daily contracts if you fully fund the position, so the only cost is the small spread on the position.
It also removes currency exposure because a spreadbet is only "pounds per point" on the dollar quoted price. Granted, in retrospect, currency exposure to the US dollar would have been very beneficial, but I once thought that GBP would recover after a Brexit deal.
Yes, I am aware of the risks of spreadbetting, but they are primarily a result of using leverage, which I am not using with BUX. Returns are also tax free.
I actually have the cheapest way to invest in precious metals. It's via a spreadbetting company called BUX Markets.
They don't charge any financing on daily contracts if you fully fund the position, so the only cost is the small spread on the position.
It also removes currency exposure because a spreadbet is only "pounds per point" on the dollar quoted price. Granted, in retrospect, currency exposure to the US dollar would have been very beneficial, but I once thought that GBP would recover after a Brexit deal.
Spreadbetting is a rabbit hole I do not recommend. Even if you get the call right it is very easy to lose money
You called the bottom and then the top in Silver! Very impressive!!
Thank you!
Yes, I am aware of the risks of spreadbetting, but they are primarily a result of using leverage, which I am not using with BUX. Returns are also tax free.