First cryptocurrencies, then stocks, now precious metals. We’re excited to announce that customers on Premium and Metal plans can now access gold exposure directly in the Revolut app.

This new feature offers another way for you to diversify your portfolio, by taking advantage of a once-complicated product. Many people don’t even realise that it’s possible to exchange gold, but precious metals are traded as commodities every day, and just like stocks, the price goes up and down according to current global events.

As you’d expect, our goal is to make trading gold as safe, simple, and cost-effective as possible. With that in mind, we’ve put together some easy-to-understand terms, which you should read if you’re thinking about investing in gold.

Gold is a finite resource, meaning that its value can go up, which is what can make it a good investment. However, investing in and trading gold can be risky for a number of reasons. So that we’re completely open and honest, here’s how it all works.

Gold is not e-money 💳

Firstly, it’s important to understand that gold is not like the e-money in your Revolut account. Gold is not e-money and as such, our gold services are not regulated in the UK by the Financial Conduct Authority.

Funds received by us in relation to your gold transactions and your gold itself, will not be safeguarded under the UK Electronic Money Regulations 2011, or the Payment Service Regulations 2017. When you purchase exposure to gold through Revolut, it will also not be protected through the Financial Services Compensation Scheme.

Sorry to get so heavy right at the start, but like we said, trading exposure to gold comes with its risks. You should always speak to an independent financial advisor before making any investments.

Exchanging and sending gold 📲

Accessing gold using the money or cryptocurrency in your Revolut account is simple. You tell us how much you’d like to spend, and we’ll tell you how much gold exposure you can access (based on the price per ounce at the time).

You can also change your gold back into e-money or cryptocurrency through the same process, but in reverse. Bear in mind that the price of gold fluctuates throughout the day, meaning you could get more or less than you expect, whenever you make a transaction.

Limits on gold 🖐

It’s unlikely that we’ll place any limits on the amount of gold you can have access to, but in the event that we do have to introduce a limit, we’ll let you know in advance.

Where your gold is held 🏦

When you purchase gold exposure with Revolut, we’ll credit your account with the corresponding value based on what the market is doing at the time the transaction is executed. The amount you see is backed up by real, physical gold, that we buy and hold with a secure financial institution.

Please note that we can’t deliver you any physical gold, or in any way grant you access to the gold (as cool as that would be).

Spending your gold 😎

You can’t pay for things directly using your gold. Instead, if you make a payment with your Revolut card, and the only funds you have are in gold, we’ll convert a portion of your gold into the appropriate fiat currency and use that.

Get your cashback in gold 🤑

If you happen to be using a Revolut feature such as Perks, which offers cashback, you can choose to get your cashback in gold. We’ll credit your gold account with the corresponding amount, based on the market value at the time. Now that is cool.

Auto-exchanging your gold 📊

If your goal is to exchange gold at a certain price, then we can help with that. Within the app, you’ll see the option to set an auto-exchange. This means that we’ll try and exchange your gold whenever the market price matches your target. Of course, this is beholden to market fluctuations, and while we’ll always try and get the price you’ve asked for, we can’t guarantee it.

Fees and how we set the exchange rate 🤔

Our fees for gaining or exchanging gold exposure are tied to the market exchange rate, and are set out in detail on our FAQs page. The price you see when you purchase or trade gold exposure includes our fee. In terms of the exchange rate, that’s set directly within the Revolut app, based on live market performance data (i.e. how much gold is worth on the market at the time).

A new way to diversify 🌎

Yes, trading gold is risky, but it can also be a rewarding investment. In addition to stocks and crypto, it’s another way to potentially get more from your money. We’re excited to be able to offer this new feature, and we welcome your feedback to make it even better.

To get started with gold, update your app to the latest version, then head to the Dashboard and tap on Gold. Please remember to read the full Terms and Conditions before getting started.

Capital at risk 🛑

We do not provide any investment advice relating to our gold services. You should carefully consider whether your personal situation and the financial risks you are willing to take mean that you should not purchase and trade exposure to gold. You may want to speak to an independent financial adviser.