Summary: The simplest and most efficient way to buy gold with Chase is via a regulated online exchange platform that offers commodity trading services, such as eToro.
Best Precious Metals Broker for Intermediate Traders and Investors
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Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.
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0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
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Copy top-performing traders in real time, automatically.
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eToro USA is registered with FINRA for securities trading.
Can you buy gold with Chase?
Yes, you can buy gold with Chase through regulated online brokers that offer commodity trading, like eToro.
You can do this in two ways:
- By linking your Chase bank account;
- By using a credit card issued by Chase as a deposit for the exchange platform. Note that, credit Cards and PayPal are not available for deposits for users under the FCA regulation.
The brokerage platform will gain direct access to your Chase funds in both cases.
With eToro and similar platforms, instead of buying actual gold, you invest in gold contracts for differences (CFDs). CFDs serve to make trading in gold easier for investors. By relying on these financial instruments, investors can speculate on gold price fluctuations without having to own and store the gold, as their value is tied directly to the value of gold.
Besides the standard long and short positions, CFDs are traded on margin, providing leverage and additional funds via brokerage loans.
Warning
How to buy gold with Chase?
The best way to buy gold with Chase is with the help of a reputable third-party brokerage platform like eToro. Boasting a community of millions of active daily investors, eToro simplifies the trading process and offers an expanded set of financial tools and features.
Trading with eToro is done with a single click or tap, on desktop and mobile devices, in the office, or on the go. In addition, it offers more than 3,000 different types of assets to invest in, sating the gold purchasing needs of all investor profiles.
Let’s explore buying gold with Chase using a brokerage platform like eToro.
How to buy gold with Chase: Step-by-step
You can invest in gold in minutes by using your Chase bank account with a few simple steps:
- Step 1: Register on eToro and verify your account (personal or company);
- Step 2: Type in the amount of cash to deposit in your account;
- Step 3: Connect your Chase bank account to eToro;
- Step 4: Select gold from the list of commodities and provide the desired number of units.
- Step 5: Review the stop loss, leverage, and take profit settings, if you set any;
- Step 6: Conclude the trade.
Alternatively, you can use credit cards issued by Chase to buy gold as well. Asset exchanges usually accept credit cards as they are safe and simple to use for investing in precious metals. The steps are similar:
- Step 1: Create an account on eToro and verify it;
- Step 2: Specify the amount of cash to deposit;
- Step 3: Link your Chase-issued credit card to eToro;
- Step 4: Continue the process in the same manner as described for the Chase bank account.
Disclaimer: 51% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. This content is not intended for US users. eToro USA LLC does not offer CFDs, only real Crypto assets, Stocks and ETFs are available.
Best Precious Metals Broker for Intermediate Traders and Investors
-
Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
Gold price today
Best ways to invest in gold
Buying gold coins or bullion is complicated for several reasons, the most significant being the security concerns of holding gold. There are less difficult methods of gaining entrance to the gold market with Chase, including:
- Contracts for difference (CFDs): In short, CFDs are financial instruments, the value of which is tied to the commodity, in this case, gold. They are a convenient way for investors to speculate on gold price fluctuations without the effort it takes to buy actual gold;
- Exchange-traded funds (ETF): Besides the issues of securely storing your gold, there is the problem of laborious active gold trading, especially in the margin-dependent derivatives market. The passive-investment alternative to this is investing in an ETF that tracks the commodity, in this case, gold. Investment into ETFs should correspond to price changes of gold, minus the annual maintenance fees;
- Gold-related stocks: Rather than investing in gold, traders can invest in gold-related stocks, e.g., companies that mine gold. The value of these stocks tends to shift in the same direction as the price of gold.
Common mistakes to avoid when investing in gold
Buying gold with Chase offers some advantages over investing in other assets. Having a part of your portfolio in gold acts as a buffer against economic recessions and a hedge against inflation. Also, exchanging a portion of your investment into gold is a credible way to diversify your portfolio.
However, investing in gold comes with risk. Avoid making these mistakes:
- Failing to diversify: Placing everything from your investment fund on one bet is dangerous and can result in total loss. Instead of putting everything in gold, make a diverse portfolio and add bonds, REITs, stocks, or cryptocurrency;
- Trying to time the market: The market can be highly unstable, so it’s best not to try to game it. Instead, consider a long-term investment strategy such as dollar-cost averaging, as it will reduce the consequences of price volatility;
- Failing to research the asset: It is crucial to do some research on the company’s fundamentals and calculate the environmental, geopolitical, and economic factors of the instrument you are about to allocate your money;
- Overusing leverage: Margin trading is infamously risky as its attractive potential for high returns makes traders forget about the increased danger in case of failure. The price of gold will change. Use leverage at your own risk;
- Falling for scams: Inflated prices and counterfeited commodities swarm the gold market. Check the platform, dealer, and commodity before you invest. Consider studying Commodity Futures Trading Commission (CFTC)’s guidelines for evading fraud;
- Using shady platforms: Always stick with regulated, licensed, and legitimate brokerages when buying gold. Check whether the service falls under the jurisdiction of relevant authorities, as well as user experiences and online reviews, if available.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
FAQs about how to buy gold with Chase:
Can I buy gold with Chase?
Yes, you can buy gold with Chase by linking a credit card or Chase bank account to a third-party exchange platform such as eToro.
How to buy gold with Chase?
You can buy gold with Chase by connecting an exchange platform that supports gold as a trading commodity, such as eToro, to your Chase funds via a Chase bank account or credit card.
Where to buy gold with Chase?
Traders can buy gold with Chase through regulated brokerages that offer gold as a trading commodity, for example, eToro.
Is buying gold with Chase safe?
Buying gold with Chase is safe as long as you rely on regulated brokerages for making the trade.
How to buy gold?
You can buy gold in three ways: trading gold CFDs, investing in gold ETFs, and buying stocks in gold-related companies, e.g., mining businesses. All three ways provide the perks of gold speculation without the hassle of owning the gold yourself.
Is gold a good investment?
Whether gold is a good investment for you depends on your investor profile, that is, your investment goals, risk tolerance, investing experience, and portfolio composition.
Best Precious Metals Broker for Intermediate Traders and Investors
-
Invest in Gold, Silver and 3,000+ other assets including stocks and cryptocurrencies.
-
0% commission on buying stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.
-
Copy top-performing traders in real time, automatically.
-
eToro USA is registered with FINRA for securities trading.
