How to Buy Silver with Zelle [2024] | Step-by-Step

Summary: Although Zelle doesn’t provide commodity trading services directly through its platform, you can buy silver with Zelle by linking your bank account to a regulated third-party investment platform like Interactive Brokers (IBKR). 

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

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Can you buy silver with Zelle?

While you can’t directly invest in silver via the Zelle app, you can utilize Zelle to transfer funds to a multi-asset investing platform that facilitates silver trading, such as Interactive Brokers. 

Simply sign up with Interactive Brokers and connect your Zelle to it. After funding your Interactive Brokers account through Zelle, you’ll be ready to start investing in silver. 

It’s important to note that Interactive Brokers allows you to invest in silver contracts for differences (CFDs), not physical silver. More on that later (as well as other ways to invest in silver).

How to buy silver with Zelle?

The best way to buy precious metals like silver or gold with Zelle is through a regulated multi-asset investing platform like Interactive Brokers, which provides access to various assets, from equities to cryptocurrencies. 

Interactive Brokers streamlines the process of investing in silver into a single click and accommodates both desktop and mobile trading, enabling you to stay updated with market trends while on the go. Moreover, Interactive Brokers offers a wealth of educational resources to aid traders of all experience levels in their silver trading journey.

So, how exactly do you buy silver with Zelle using an exchange such as Interactive Brokers? It’s easier than you might expect. Let’s look into the step-by-step process. 

How to buy silver with Zelle: Step-by-Step

You can get started in minutes with a few simple steps:

• Step 1: Create and account and go through verification;
• Step 2: Type in the amount you wish to deposit;
• Step 3: Connect your Zelle to fund your account;
• Step 3: Navigate to the commodities markets page, choose ‘silver’ and select ‘trade;’
• Step 5: Input the desired cash amount or number of units for your trade; 
• Step 6: Review and adjust the stop loss, leverage, and take profit settings; 
• Step 7: Click ‘open trade.’

Disclaimer: CFDs are complex financial instruments and carry a significant risk of losing money rapidly because of leverage. Note that 62.5% of retail investor accounts face losses when trading CFDs with IBKR. It’s important to assess your understanding of how CFDs work and whether you can bear the substantial risk of financial loss. This product is not available for US investors.

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started

About Zelle

Zelle is a US-based digital payments network that allows users to send money electronically from their bank account to the bank account of another registered user using either a mobile device or the website of a participating bank.

Founded in 2017, Zelle’s reach has grown substantially, and it’s now backed by the support of more than 1,600 financial institutions. In fact, as of 2023, approximately 100 million users have been able to connect to Zelle through their banking apps.

Silver price today

Ways to invest in silver

Apart from buying silver coins or bullion, there are various alternatives for gaining exposure to silver: Let’s look at the three most common ones:

1. Trading contracts for difference (CFDs): CFDs are financial instruments that derive their value from the underlying asset (i.e., silver), allowing investors to speculate on its price movements by employing long or short positions without actually owning the asset itself. CFDs are traded on margin, which means brokers loan investors additional funds to enhance the size of their position;
2. Investing in silver exchange-traded funds (ETF): If you prefer to avoid the hassle that comes with buying physical silver or the risks that fast-paced and margin-dependent derivatives markets present, a practical option is to invest in ETFs that track the commodity. Silver ETFs provide an opportunity to benefit from the price fluctuations of the underlying asset, so the fund’s performance should typically mirror the variations of silver’s worth (factoring out the fund’s annual fee);
3. Buying silver-related stocks: You can also take advantage of a surging silver market by purchasing shares in companies that mine silver.

Common mistakes to avoid when investing in silver

Diversifying your portfolio with silver may prove a fruitful strategy, providing a refuge during economic downturns as well as potentially serving as a hedge against inflation. However, like any investment, the silver market is not without its complexities and challenges.

Be sure to avoid these common mistakes as you embark on your silver investing venture:

• Lack of diversification: Make sure you include silver in a diversified portfolio along with a variety of other financial instruments, such as stocks, bonds, and cash; 
• Attempting to time the market: In general, timing the market doesn’t work. Opt for a long-term investment strategy, like dollar-cost averaging, that can mitigate the impact of market volatility; 
• Not understanding the investment: Make sure you fully understand the various silver investment options available to you. For example, if you decide to invest in silver mining stocks, thoroughly examine the company’s fundamentals and be aware of any geopolitical and environmental risks tied to its operations;
• Overreliance on leverage: Margin trading significantly heightens your risk-return ratio and is usually more suitable for seasoned traders, particularly given the volatility of silver prices; 
• Falling prey to scams: Stay alert to potential scams where dealers might attempt to sell overpriced silver or counterfeit items. Check out the Commodity Futures Trading Commissions (CFTC) guidelines for spotting and avoiding fraud;
• Using unregulated platforms: If you’re trading silver through an online broker or a similar platform, ensure they are regulated and licensed by the relevant regulatory authorities.

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 silver with Zelle

Best Platform for Worldwide Stock Trading & Investing

• Highly trusted multi-asset broker with clients in over 200 countries

• Trade on 150 markets globally from a single platform (stocks, ETFs, futures, currencies, crypto & more)

• Low commissions starting at $0 with no platform fees or account minimums

• Easily fund your account and trade assets in 26 currencies

• IBKR pays up to 4.58% interest on cash balances of $10k or more

Up to 4.58% interest on balance*

Get Started