Commodities markets, both historically and in modern times, have had tremendous economic impact on nations and people. Precious metals can also be used as a hedge against high inflation or periods of currency devaluation. We're here to give you that peace of mind against such occurrences.
1. Register for an SGPMX account.
2. Submit proof of identity.
3. Begin trading!
Enjoy low trading charges for every transaction - you no longer have to suffer large spreads when you sell your precious metals. This is made possible because we have eliminated other transactional costs such as logistics and insurance, as well as the high costs of assaying or verification of precious metals.
With SGPMX's user-friendly interface, you can buy or sell gold and silver online at your own convenience. Just log in and you're connected with other buyers and sellers in our Trading Platform.
When new bullion arrives into Le Freeport Singapore, a series of protocols will be triggered between SGPMX Bonded Storekeepers, Independent Auditors and SGPMX Headquarter. They are registered and recorded, with no losses.
Our payment systems allow registered account holders to purchase precious metals any day. All systems and components within the platform are scrutinized for performance in the most stringent ways, ensuring secure payments to be made between buyers and sellers in the Exchange.
1. Buyer must have sufficient trading funds to support every bid that is made.
2. This means that the Seller must have the physical allocation of the bullion to sell.
3. The system matches the Seller's bullion allocation with the Buyer's bid and reassigns ownership of the stored bullion to the Buyer. The funds from the Buyer's account is then transferred to the Seller's account.
4. Independent Auditors ensure that all bullion traded within the SGPMX ecosystem are fully allocated and segregated. This also means that the new owner of the bullion will be recognized in the system.
5. The SGPMX Trading Platform is a tool whereby willing Buyers and Sellers transact physical bullion stored within the ecosystem. The traded bullion remains UNCIRCULATED.
1. The Bonded Storage Storekeepers record bullion products in the Master Bar List and issue safekeeping trust receipts. Bullion is then stored into the allocated storage. The Master Bar List contains the ownership details of all owners.
2. SGPMX also maintains a safekeeping record or bar list for all products under storage by Bonded Storage facilities. Every individual bullion product is allocated to their respective owners.
3. The trading platform’s database will be updated and the member’s own online records will reflect the safekeeping records, or bar list of all owned bullion in storage. Trade requests can only be made when there is physical ownership of bullion in storage.
4. SGPMX will provide the Storekeepers a real time list of all successful trades and update the Master Bar List. Safekeeping receipts will also be made out to the new owner of the bullion and copies of each instruction will be given to External Auditors as well. The trading platform will be updated and the new owner of the bullion will now find records on his or her online inventory list.
5. Reconciliation reports and records will be conducted from time to time. Any phantom bullion traded will be exposed should both database and safekeeping records do not match. A third party external F.A.C.T. report will be made every quarter to ensure that all bullion products are tracked and that the database from the trading platform as well as safekeeping records match.
Every participant in the Exchange undergoes a minimum of 3 levels of authentication.
1. Participants of SGPMX must first register for an SGPMX account. Requirements include providing their personal details and matching photo-based identification such as a driver's license, passport or national ID for verification.
2. The SGPMX Trading Account only allows funds that are transferred from a recognized bank account. Both identities (the SGPMX Trading Account and Bank Account from which the funds are being transferred) must match. All unused funds will be automatically remitted back to the account holder after 60 days.
3. SGPMX also requires that each participant provides sufficient proof of identity before being allowed to trade. For participants who prefers the storage option, they are then required to provide sufficient proof of identity for the safekeeping receipts to be issued by Bonded Storekeepers.
4. Participants can procure bullion products from the SGPMX retail store via bank transfer from a matching account or a valid credit card, which will be processed by the UOB online merchant gateway. No third party accounts will be accepted.
5. As every bullion product stored in the Exchange ecosystem is fully allocated and segregated, each participant is validated, otherwise he or she would be barred from participation.
To log into the system, a participant is required to match his or her username and password as well as a special identification code, which he or she had preselected upon registration. Before logging in, the participant is also required to enter a randomly generated CAPCHA to prevent bot attacks. And before any transactions can be made, the participant is required to input his or her unique trading key password for authentication.
An independent third party Internet security monitoring service is in use. This service constantly monitors the SGPMX’s services for any hacking or cyber attacks to the system.
The SGPMX trading platform is served through a secure SSL encrypted server.
If a participant uses an unrecognized computer to log into the SGPMX Trading Account, an email authentication is required in order to proceed with the transaction.