can i buy gold on interactive brokers — overview

Buying Gold on Interactive Brokers — overview

As a starting answer to the question “can i buy gold on interactive brokers”: yes — Interactive Brokers (IBKR) offers multiple ways for clients to gain exposure to gold. This guide explains how IBKR lets you track or own gold prices through US Spot Gold (USGOLD), London unallocated OTC contracts, gold CFDs/spot XAUUSD, exchange-traded futures and options, physically backed or synthetic ETFs, and gold-miner equities. It also covers account permissions, platform steps, fees, conversion to physical metal, eligibility limits, risks and a practical pre-trade checklist.

As of 2026-01-15, according to Interactive Brokers product pages and IBKR Campus lessons, the availability, fees, product symbols and jurisdictional rules described here reflect IBKR’s published materials at that date; these details are subject to change and should be verified in your IBKR Client Portal before trading.

Ways to gain exposure to gold on IBKR

Interactive Brokers provides multiple product types so clients can choose exposure that matches their objectives and constraints. The main instrument categories are:

• US Spot Gold (listed by IBKR under the US Spot Gold program, symbol: USGOLD).
• London-based unallocated gold/silver OTC derivatives offered by IBKR entities that reference LBMA price feeds (common references: XAUUSD/XAGUSD formats under IBKR’s IE entity).
• Gold CFDs and spot XAUUSD contracts (levered over-the-counter spot or CFD products where permitted).
• Exchange-traded gold futures and options (CME and other regulated futures exchanges) for standardized exposure and exchange clearing.
• Physically backed or synthetic gold ETFs available on major exchanges.
• Gold-mining equities and royalty/streaming companies listed on stock exchanges.

Each product has different legal, operational, cost, and risk characteristics. The rest of this guide walks through these alternatives in detail so you can determine which matches your trading or investment intentions.

US Spot Gold (USGOLD)

US Spot Gold through Interactive Brokers is an IBKR-managed, unallocated spot contract that allows eligible clients to obtain price exposure and, under certain conditions, request physical delivery. Key points:

• Product nature: US Spot Gold (often referenced as USGOLD within IBKR materials) is structured as an unallocated spot contract that tracks the spot price of gold denominated in USD.
• Trading mechanics: Clients trade a spot contract with IBKR; the position size can be smaller than typical futures contracts, which makes it attractive for retail-sized exposures.
• Commission and storage: IBKR charges transaction commissions on trades in US Spot Gold and applies a monthly storage or custody fee calculated per ounce on positions held overnight. Specific fee rates are published by IBKR and can vary by account type and size.
• Minimums and convertibility: US Spot Gold positions may be traded in relatively small quantities, but physical delivery requests have minimum denomination requirements and processing fees. IBKR provides a conversion/delivery process that, when permitted, lets eligible clients convert unallocated positions into allocated/physical bullion or coins subject to minimums and partner bullion provider terms.
• Eligibility and jurisdictions: The US Spot Gold program is subject to jurisdictional restrictions and is generally available to United States legal residents with specific exclusions (IBKR lists state-level and account-type exclusions). Clients must request metals trading permission and meet suitability rules.

US Spot Gold is designed for traders and investors who want a simple spot-like product inside IBKR without immediately dealing with futures contract roll schedules. Because it is unallocated, it carries counterparty and custody considerations (see Risks).

London unallocated gold/silver (IBKR IE)

IBKR’s London unallocated product (often offered through IBKR’s Irish or European entity) references the London Bullion Market Association pricing and operates as an OTC unallocated contract. Important characteristics:

• Contract form: These are OTC unallocated metal contracts that give the client a general claim against IBKR for an amount of metal; IBKR in turn holds or arranges bullion custody in the London market or with custodial partners.
• Pricing reference: Prices and quotes reference LBMA benchmarks and are often expressed in XAUUSD or XAGUSD style quote conventions.
• Marginability and suitability: Unallocated contracts may be marginable in IBKR accounts depending on account type and jurisdiction, but they typically require that clients meet suitability and knowledge tests for OTC/derivatives products.
• Counterparty nature: Because these are unallocated OTC contracts, the client does not hold specific allocated bars; instead the client has an unsecured or partially secured contractual right to an attributable quantity of metal. This raises counterparty and credit considerations compared with owning allocated metal.
• Operational features: Contract settlement, margin calls, and operational support are handled through IBKR’s custodial and operations chain and are subject to IBKR’s OTC product documentation.

These London-referenced unallocated products can be convenient for traders seeking LBMA linkage without the complexities of futures clearing, but they require understanding counterparty exposures and IBKR’s terms.

Gold CFDs and spot XAUUSD

Where regulation permits, IBKR offers CFDs and spot XAUUSD contracts that provide leveraged price exposure without ownership of physical metal. Key details:

• Exposure type: CFDs and spot XAUUSD are derivatives that mirror the price movements of gold but do not confer ownership of physical metal.
• Leverage and margin: These products commonly allow leverage, meaning required initial margin may be a fraction of notional exposure. Margin levels and maintenance requirements vary by jurisdiction and product.
• Market data and subscriptions: Real-time prices for CFDs and XAUUSD may require subscribing to market-data feeds in your IBKR Client Portal; delays or limited data may apply otherwise.
• Costs: Clients pay financing costs (overnight funding) on leveraged positions plus spreads and commissions depending on IBKR’s pricing schedule.
• Regulatory and suitability rules: Many jurisdictions restrict leveraged retail CFDs; IBKR enforces suitability checks and may limit availability to professional or institutional clients in some locations.

CFDs are suitable if you want simple directional exposure and can accept leverage and counterparty risk, but they are not a replacement for owning allocated physical bullion.

Futures and options on gold

Exchange-traded gold futures and options (for example those on CME Group) are standardized contracts that trade on regulated exchanges and are cleared through central counterparties. Main points:

• Standardization: Futures and options have exchange-defined contract sizes (e.g., the standard COMEX gold futures contract size) and standardized expirations.
• Deliverability: Some futures are physically deliverable at expiration, while other contract months or types are cash-settled; if you hold a deliverable contract to expiry you may need to handle the delivery mechanics through IBKR.
• Margin and clearing: Futures trade through clearinghouses and require exchange margin rather than bilateral OTC margin. IBKR posts and collects margin per exchange rules and offers margin offsets across some positions.
• Roll and expiration considerations: Futures require active management around expiration and roll dates if you seek continuous exposure; rolls may incur costs depending on the term structure of the futures curve.
• Suitability: Futures and options involve leverage and require an account with futures permissions; IBKR performs suitability checks and requires futures trading permissions.

Futures/options are the route for traders who want exchange-cleared exposure with defined contract terms and margining.

Gold ETFs and stocks

For investors who want exposure without metals trading permissions or physical delivery complexity, exchange-traded products and equities are straightforward:

• Physically backed ETFs: These funds hold allocated bullion and aim to track spot gold prices, giving investors exposure through a regular brokerage trade.
• Synthetic ETFs: Some ETFs use derivatives to achieve exposure; they have different counterparty structures and tracking characteristics.
• Gold-mining equities and royalty companies: Owning shares of miners or streaming companies gives equity exposure correlated to gold prices, along with company-specific risks.

ETFs and stocks are popular because they can be bought and sold like ordinary securities within an existing IBKR account without special metals permissions, though ETF holdings carry their own expense ratios and structure-driven risks.

How to enable and place gold trades on IBKR

Below are practical steps to enable metals trading and place orders in IBKR. Exact menu names and flows may change; confirm current steps in your Client Portal.

1. Open and fund an IBKR account

   • Complete account opening with verified identity and residency details. Fund the account with available deposit methods supported by IBKR.

2. Request Metals trading permission

   • In Client Portal: Settings → Account Settings → Trading Permissions (or Settings → Trading Permissions). Find the Metals or Precious Metals permission and enable it. IBKR may require you to complete a suitability questionnaire and acknowledge product risks.

3. Subscribe to required market data

   • Some spot, CFD or exchange market data requires subscriptions. In Client Portal: Settings → Market Data Subscriptions. Add feeds needed for the market (e.g., CME market data for futures, LBMA or spot price feeds where available).

4. Choose your product in TWS / Client Portal / Mobile

   • In Trader Workstation (TWS): search tickers such as USGOLD (US Spot Gold), XAUUSD (spot/CFD conventions), or futures symbols for exchange-traded contracts.
   • In Client Portal: search the product name and use the Trade ticket to place orders.

5. Place orders or conversion/delivery requests

   • Place market, limit or other order types per instrument rules.
   • For US Spot Gold physical conversion: after holding an eligible unallocated position, submit a physical delivery request through the IBKR Message Center or the conversion workflow described in IBKR’s delivery guide. Prepare to meet minimums and pay processing/delivery fees.

6. Monitor positions and margin

   • Keep an eye on overnight financing, storage charges, and margin requirements for leveraged products. Use IBKR’s risk and margin tools in Client Portal.

Trading platforms (TWS, Client Portal, APIs)

• Trader Workstation (TWS): TWS is the most feature-rich desktop platform and lists IBKR’s metals products. Use the Mosaic or Classic TWS layouts to find US Spot Gold, futures, ETFs and equities. TWS provides order ticket flexibility, conditional orders and risk tools.
• Client Portal: Browser-based interface for account management and straightforward trade tickets; suitable for most ETF and equity trades and for placing spot/CFD orders where allowed.
• Mobile apps: IBKR Mobile supports basic trading and monitoring of gold products.
• APIs: IBKR provides APIs (FIX, REST, and native client APIs) for automated trading; metal instruments are accessible programmatically where permitted by account permissions.
• Educational resources: IBKR Campus, product pages, and video tutorials explain specific workflows such as trading US Spot Gold, requesting delivery, and trading futures.

Costs, commissions and financing

Costs vary by instrument type, account type and jurisdiction. The following summarizes typical cost categories you should review in IBKR’s official pricing pages:

• Commissions: IBKR may apply tiered or fixed commissions on US Spot Gold trades. Commission minimums and tier breaks depend on volume and account type.
• Storage/ custody fees: For US Spot Gold and some unallocated products, IBKR applies a monthly storage/custody or “treatment” fee quoted per troy ounce on positions held overnight.
• Overnight financing / interest: Leveraged OTC positions (CFDs, margin-pegged spot) incur overnight financing costs. Futures use margin but do not carry the same overnight financing calculation as CFDs; however, financing is implicit in the cost of rolling futures.
• Exchange/clearing fees: Futures and options incur exchange and clearing fees that appear on trade confirmations.
• Conversion and delivery fees: If you request conversion of US Spot Gold to allocated physical metal, expect processing, shipping, insurance and bullion-provider fees; minimums apply.
• Market data subscriptions: Real-time market data for futures, LBMA-linked prices, and other feeds may require monthly subscription fees.

All fees and rates are subject to change; verify current pricing on IBKR’s pricing and product pages before trading.

Physical delivery and conversion process

One distinctive IBKR feature is a conversion path from US Spot Gold positions to physical delivery (where permitted). Typical elements:

• Eligibility: Only certain accounts and jurisdictions can request delivery. US Spot Gold contracts may be convertible to allocated metal or bullion coins when minimum delivery quantities are met.
• Minimum denominations: Delivery requests commonly require a minimum number of ounces; small spot trades do not necessarily meet physical delivery minimums.
• Request workflow: Submit a delivery or conversion request via IBKR’s Message Center or the conversion tool in Client Portal. You may need to specify delivery format (allocated bars, minted coins) based on available partner products.
• Partner bullion providers and processing: IBKR typically uses third-party bullion partners to provide allocated metal and handle shipping and insurance. Processing and partner fees will apply.
• Shipping, insurance and taxes: Buyers are responsible for shipping and insurance costs. Customs, VAT or sales taxes depend on your shipping address and local laws.
• Timing: Delivery processing times vary and may require several business days to weeks depending on logistics and partner availability.

Costs and delivery processes change frequently; always confirm current rules and fees in the IBKR delivery guide and Client Portal before submitting a conversion.

Eligibility, jurisdictional and account limitations

Not all gold products are available to all clients. Important limits include:

• Residency restrictions: Some products (notably US Spot Gold) are available only to clients resident in certain countries or U.S. states. IBKR publishes state-level and country-level restrictions.
• Account type limitations: Corporate, individual, trust and institutional accounts have different permissions and suitability requirements. Futures or margin accounts may be required for exchange-traded futures and leveraged OTC products.
• Suitability checks: IBKR requires clients to pass suitability questions and to request specific permissions for metals, futures, options or margin trading.
• Professional vs retail classification: In some jurisdictions, only professional or institutional clients can access certain OTC or leveraged instruments.

Before attempting to trade a specific gold product, verify your eligibility in the Client Portal and read the product-specific documentation.

Risks and considerations

Trading or owning gold through IBKR involves a range of risks that vary by instrument:

• Counterparty and credit risk: Unallocated products (US Spot Gold, London unallocated) expose you to IBKR as counterparty. In the event of broker insolvency, unallocated claims may be at risk compared with allocated holdings.
• Custody and allocation risk: Holding unallocated contracts does not mean you own specific bars; allocated holdings are different and require additional custody arrangements.
• Liquidity and basis risk: Futures, ETFs and OTC products can exhibit liquidity differences. The price difference between spot and futures (basis) can create roll costs.
• Margin and leverage risk: Leveraged products (CFDs, futures) amplify gains and losses and can lead to rapid margin calls.
• Operational and delivery complexity: Physical delivery involves minimums, fees and logistics; failure to understand requirements can lead to unexpected costs.
• Tax implications: Tax treatment varies by jurisdiction and product type (capital gains, collectibles tax, VAT). Consult a tax advisor for personal tax consequences.

These considerations underline the importance of selecting the appropriate instrument for your risk tolerance and objectives, and of conducting due diligence on IBKR’s product terms.

Advantages and disadvantages of IBKR’s gold offerings

Pros:

• Multiple instruments in one account: IBKR lets you access spot-like products, OTC unallocated contracts, exchange-traded futures/options, ETFs and equities under one broker relationship.
• Competitive pricing and execution tools: IBKR’s global connectivity and TWS/Client Portal give access to deep markets and advanced order types.
• Ability to request delivery: For investors seeking physical metal, the US Spot Gold conversion route provides a path to delivery when minimums and rules are met.
• Professional-grade margin and risk tools: IBKR provides robust margin calculators and risk monitoring features.

Cons:

• Product complexity: Multiple legal forms (unallocated vs allocated, OTC vs exchange) demand careful reading of terms.
• Jurisdictional and eligibility restrictions: Not all clients can access every product; check Client Portal permissions.
• Counterparty risk for unallocated products: Unallocated positions carry credit risk to the broker.
• Fees for storage and delivery: Overnight storage fees and conversion/shipping costs can reduce net returns.

Evaluate these trade-offs when choosing between ETFs, futures, unallocated spot or taking physical delivery.

Practical checklist before buying gold on IBKR

• Verify residency and account eligibility in Client Portal.
• Request Metals trading permission (Settings → Trading Permissions → Metals).
• Subscribe to any required market data feeds for the chosen instrument.
• Fund account to meet initial margin, minimums or delivery-denominated thresholds.
• Decide instrument: US Spot Gold (USGOLD), London unallocated, XAUUSD/CFD, futures/options, ETF, or mining stocks.
• Place a small test trade if unfamiliar with order entry and execution.
• If considering physical delivery: confirm minimums, conversion fees, partner terms, and shipping/insurance procedures.
• Keep records of confirmations, fees, and delivery agreements for tax reporting and audits.

Frequently asked questions (short answers)

Q: Can I take physical delivery? A: Yes — where permitted, US Spot Gold positions can be converted to physical bullion subject to minimums, fees and partner terms.

Q: Are fractional ounces tradable? A: IBKR’s spot contracts and CFD offerings often allow small or fractional positions for price exposure, but physical delivery requests typically have minimum ounce requirements.

Q: Do I need special permissions to trade gold on IBKR? A: Yes. Request Metals trading permission in the Client Portal and complete any suitability questionnaires required for OTC and margin products.

Q: Is US Spot Gold the same as owning allocated bars? A: No. US Spot Gold is an unallocated contract unless you convert to allocated metal via IBKR’s delivery process. Allocated bars mean specific bars held in custody for you.

Q: How do fees compare across instrument types? A: ETFs and equities typically have brokerage commissions and fund expense ratios. Futures have exchange/clearing fees and margin. Unallocated spot products include storage fees and commissions; CFDs have financing costs. Check IBKR’s pricing pages for current numbers.

Q: Where can I find more details and official terms? A: Consult IBKR product pages for US Spot Gold and London Unallocated Gold/Silver, IBKR Campus lessons, and the Client Portal product documents. Confirm current fees and eligibility there.

References and further reading

Sources cited (for up-to-date details consult these IBKR materials in your Client Portal):

• Interactive Brokers: US Spot Gold product page and IB Spot Gold glossary entry.
• Interactive Brokers: London Unallocated Gold/Silver product documentation (IBKR IE materials).
• IBKR Campus lessons: Trading Spot Gold and Silver using TWS; educational videos on metals trading.
• IBKR Guides: Physical Delivery of US Spot Gold — conversion and delivery procedures.
• IBKR Pricing pages: Commissions, storage fees, market data subscriptions and margining rules.

As of 2026-01-15, according to Interactive Brokers official product pages and IBKR Campus, product symbols, fees, eligibility criteria and conversion rules described above reflect IBKR’s public documentation and may be updated. Always verify live terms in your Client Portal before trading.

Further context: for traders who also engage with crypto or Web3 services, consider Bitget Wallet for secure key management and explore Bitget’s educational materials on tokenized assets; Bitget is recommended for Web3-native trading workflows where appropriate.

Further practical notes:

• If you’re uncertain which instrument fits your goals, start by paper-trading or using small live trades while you confirm order routing, market data and fees.
• Keep tax and legal advisors in the loop before executing conversions to physical metal; tax treatment varies by jurisdiction.

More practical guidance and hands-on tutorials are available in IBKR Campus and product documentation inside your Client Portal — check those resources to confirm current operational steps and fees.

Explore more: if you trade both traditional and digital assets, review Bitget's resources on custody and wallet best practices to manage cross-asset exposure in a secure way.