FAQ
Got questions? We've got answers!
Find answers to common questions about our gold platform, account ID requirements, and services.
FAQ
What are your support hours?
Our support hours are 9:00am to 5:00pm Mon – Fri with the exception of public holidays. You can contact our customer service team by emailing support@xorogold.com.
What documents do I need to open an individual account and start buying gold?
Our accounts are free and easy to set up. However, before allowing you to purchase gold you must complete the KYC process by submitting a primary photographic ID (driver’s license or passport) and a secondary proof of ID document (utility bill or council statement). This is to fulfil our anti-money laundering obligations. Our friendly team will check your documents and get back to you as soon as possible.
How do I open an individual account with Xoro?
Please complete the online application. It is a very simple process and takes a few minutes to complete. Once we verify the individual’s identity and complete KYC your account shall be activated. We require a primary photographic ID such as a driver’s license or passport as well as a secondary ID such as a utility bill. However, should we need more documents you will be notified via email.
What payment methods are available?
We accept payments through Visa and Mastercard for your convenience.
How do I sell gold I have stored with Xoro?
You can easily sell back gold stored with Xoro.
- Proceed to your accounts page to view the type and amount of gold you have in storage.
- Click the “sell” button and input the quantity or dollar value of the gold you wish to sell.
- Click “add to cart” after confirming the price and amount.
- Confirm details on the cart page.
- Check the box “I have read the terms and conditions” and click confirm and submit.
- Purchase order will be sent to your email and we will make arrangement for the funds to be wired to your designated account.
Why are the sell and buy prices different?
This is called the spread. We charge a small mark up from the mid price to cover costs and to generate revenue on the gold bullion we sell and buy.
I forgot my user ID
Please click on forgot my ID, follow the steps in the email to retrieve your ID.
I forgot my password
Please reset your password by clicking ‘forgot password’ on the website, follow the prompts to reset your password.
How often do you update your prices?
Daily at 8am CET/CEST time.
Can I cancel an order if I change my mind?
No this is not possible. Once an order is confirmed, you have entered into an irrevocable contract to either purchase or sell gold.
Does your product come with a certificate?
All our products come with a gold certificate of authenticity for amounts over 1 gram. The certificate indicates the weight, individual bar numbers if it’s an allocated purchase, the origin to give you greater transparency towards your purchase.
What is Digital (Pool allocated) Gold?
Investment grade gold is typically bought in bar form, with the international standard set at ‘999.9’. This means that physical gold products are 99.99% pure gold. All bullion purchased through us adheres to this standard.
Our Pool Allocated bullion product range is the perfect choice for both new precious metal investors and regular traders. Rather than buying a specific physical bar, investors can buy into an allocated pool of gold. This means we maintain a store of numbered 1kg bars in a segregated pool which backs the amount of gold we hold on behalf of customers. You own a share of this pool of bars, rather than owning specific bars.
One of the chief benefits of pooling gold bars is that customers pay reduced storage fees.
You can either buy by dollar value (parts of an ounce or kilo) or by weight.
There are a number of key benefits to our Pool Allocated bullion products, including:
Our Pool Allocated bullion product range is the perfect choice for both new precious metal investors and regular traders. Rather than buying a specific physical bar, investors can buy into an allocated pool of gold. This means we maintain a store of numbered 1kg bars in a segregated pool which backs the amount of gold we hold on behalf of customers. You own a share of this pool of bars, rather than owning specific bars.
One of the chief benefits of pooling gold bars is that customers pay reduced storage fees.
You can either buy by dollar value (parts of an ounce or kilo) or by weight.
There are a number of key benefits to our Pool Allocated bullion products, including:
- Can be purchased in specific dollar amounts or in ounces and kilos
- Zero storage fees
- Backed by metal (externally audited)
- Highly liquid and easy to buy or sell
- Insured by underwriters at Lloyd's of London
What Charts and Prices does Xoro use?
Our gold price chart shows you the current price of gold on a daily basis. Prices are updated every 10 minutes and are locked in for 10 minutes in order to complete the purchases. The daily sweep is at 8am Spain time (CEST), this is the rate used for transactions that have arrived after 48 hours. In the professional gold bullion market, prices are benchmarked against the LBMA. You can then use those real-time spot prices to place an order using our live order board. The prices update every 10 minutes, with the live gold price data processed about every 10 seconds. There is no need to refresh your browser. This chart also gives you up to 20 years of historical data, so you can see the long-term trend. Live and historic data is available in seven different currencies.
How to Buy
Buying gold with us is simple, you simply navigate to the buy gold page. Choose from the available category of products you wish to purchase. For example pool allocated gold. Once selected, the page will allow you to choose the amount of gold you wish to purchase. Once finalised please press “add to cart”
You will then be taken to a purchase order page, where you will need to fill out the details if you are not an existing customer or you may login if you are an existing customer. Once you have submitted the purchase order, you have entered into an irrevocable contract. You will then receive an invoice for the amount agreed to your registered email. Once payment has been received your account balance will be updated to reflect the precise amount of gold you have purchased (e.g. 10g) and the portfolio value of your gold according to the price of gold today. You will be issued a certificate indicating title, ownership and the amount of gold owned.
You will then be taken to a purchase order page, where you will need to fill out the details if you are not an existing customer or you may login if you are an existing customer. Once you have submitted the purchase order, you have entered into an irrevocable contract. You will then receive an invoice for the amount agreed to your registered email. Once payment has been received your account balance will be updated to reflect the precise amount of gold you have purchased (e.g. 10g) and the portfolio value of your gold according to the price of gold today. You will be issued a certificate indicating title, ownership and the amount of gold owned.
How to Sell
We want to make the selling of your precious metal as easy and as competitive as possible. For pool allocated gold sold to Xoro you may choose to submit a sell order easily from “my accounts”. Simply select sell and fill in the details, please check to ensure all the details, including bank account details are correct. Once the sell order has been sent, you may not amend or retract this order. Xoro will send you a confirmation email once the order has been processed and your account updated. The certificate which indicates title and ownership will change at this point.