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Name

   Gold Trading

Description

  • Trading gold is one of BCEL trading services that you can directly buy or sell gold in the international markets through your personal bank account. The available service including spot trading, good-till-date (GTD) trading (NY), or good-till-cancel trading (GTC) suits those who are interested in risky investments that allow you to make transactions many times in one day.

Benefits

  • You can speculate gains and trade many times as you wish in one day (based on your balance). At the end of the maturity, the total amount of generated income in each trading transaction will be transferred to your bank account after settlements. You can also monitor the economic climate and gold trading trends at http://bcel.com.la

​Terms of Services

  • You must hold a BCEL bank account such savings or fixed-term deposit
  • You should state your purpose of trading in order to open a gold trading account
  • You need to request a 10-digit code to be used for approval of your gold trading transaction.
  • Trading times: 8:30–15:30, Monday-Friday

​Fees

      USD 35 per each transaction

​Trading Procedures

Spot Trading:

  1. Give the name of the account holder
  2. Provide the account number specified in the agreement that allows for funds to be deducted according to the determined gold rate.
  3. Give the 10-digit code to confirm the order and process of the approval
  4. Ask for the gold price with the BCEL staff by calling 021-219308 to order with the agreed price
  5. After finalizing the agreed price, BCEL will send you an official agreement to confirm the order and then you must sign and stamp (if you have a seal) before faxing it back to 021-262764 or taking it to the bank in person.
  6. In a case that you come to the bank in person after finalizing the agreed price, BCEL will provide a confirmation for the customer who signed the agreement, the signature of whom must match that on the contract. This agreement must officially be stamped each time.                 

Good-Till-Date (GTD) Trading (NY):

  1. Give the name of the account holder
  2. Provide the account number specified in the agreement that allows for funds to be deducted according to the determined gold rate.
  3. Give the 10-digit code to confirm the order and process of the approval
  4. Provide your desired price
  5. Wait for the official letter of the confirmation from BCEL by fax and then you need to sign and stamp (if you have a seal) before sending it back to 021 262764 or take it into the bank in person
  6. This order will be cancelled immediately if the New York market is closed or in the event that the market price does not reach the expected price that you have ordered.

Good-Till-Cancel (GTC) Trading:

  1. Give the name of the account holder
  2. Provide the account number specified in the agreement that allows for funds to be deducted according to the determined gold rate.
  3. Give the 10-digit code to confirm the order and process of the approval
  4. Provide your desired price
  5. Wait for an official agreement to confirm the order from BCEL by fax and then you must sign and stamp (if you have a seal) before faxing it back to 021-262764 /218977 or taking it to the bank in person.

This order will not expire, but this will only take action if the market price matches with the price that you have ordered (Customers can cancel the order at any time by telephone).