do considering to enter because of this,...
do take note of post 1821 by Tan_aniki.....

thanks for sharing,.....else not many people (forummers) knows about it.

I will avoid any HG transaction temporary until I see really worth to invest in this platform.
Currently, buying GOLD at Bank Gold investment account.

CIMB Click, as I already have account there.

Still good la.
Today price is
Gold Type          Bank Selling Bank Buying
CIMB Clicks 225.6        220
Branch/OTC 226.8        220.8

Which means, the spread just 2.5%-2.6% and no maintenance fees some more.

Wrong la.
Maybank: Sell 228.97 Buy 219.9 -> ~4% spread
UOB: Sell 227.0 Buy 222.40 -> ~2.5% spread

Cara untuk menyertainya:

1. Langgani Boosted SmartSaver di antara 23 Mac - 5 April
2. Simpan RM100 sebulan untuk 3 bulan berturut-turut
3. Isi dana SmartSaver anda menerusi Boost
4. Terima ganjaran RM15 Cashback dari Boost + RM15 emas dari HelloGold setelah tempoh selesai!

Promosi sah untuk 1,000 pelanggan terawal sahaja.

Hi Mr. CEO, noticed that HG started charging "premium" on top of the market price and fees, and you guys had posted articles in various languages to explain the "premium" thingy...

Just wondering, if I buy at "premium", my cost will be [Market Price] +[Trax Fees] + [Premium].

How about when i sell it back to HG ?

How much i'd received?

a)  [Market Price] + [Premium] - [Trax Fees] ; or
b)  [Market Price] - [Trax Fees]

Hello everyone. With the shortage of physical gold these past few days, we have had to take into account the premium that was imposed on physical gold. You would have noticed a couple of things:

1) We introduced a premium on the buy and sell transaction which varied periodically which was displayed as part of our fee even though it is not part of our fee. We are working to fix this UX/UI in our app so that the information more accurately reflects the costs
2) The gold price in our HelloGold app increased from the price quote on the spot market to the price quoted on physical

Allow me to explain both points above simultaneously. The premium and the increase of gold price displayed in app worked hand in hand.

As an example:
When our bullion partner has a 15% spread between buy and sell where the sell price was at Rm210 per gram, the buy price was RM241.50 (210 * 115%)

We made the decision to continue to display the midprice on the app as we have always done. In this case, it was RM225.75 [(210 + 241.5)/2)]. We did this because this was equitable to both buyers and sellers

If you wanted to buy gold, the price would be RM225.75 + market premium of 6.98% [(((241.5-225.75)/225.75)*100)] + our fee of 0.79%

The same formula was used for a sell, the price would be RM225.75 - market premium of 6.98% - our fee of 2%

We have now changed the weightage in light of the feedback that we have received. What we are using the same example is as follows

Our display price will not be the midprice (RM225.75) as previously but it will be our sell price (RM210)

So if you are buying gold, the transaction will be RM210 + market premium of 15% + our buy fee of 0.79%. Conversely if you sell gold, the transaction will be RM 210 - market premium of 0% (or as close as because the algorithm wasn’t designed to factor in market premium which is a longer term fix) - our sell fee of 2%

Please also bear in mind that the premium will continue change and we will be updating it regularly.

We hope that the shortage would end soon which would allow us to remove the premium and revert to our current standard transaction fees for buy (0.79%) and sell (2%).

Thank you

can we still use boost to buy HELLOGOLD ?

can i buy in multiple of RM1 gold ?
*need to meet #transaction in boost acc level4 .

any indication on the gold market price excluding or including premium on the app?

The spot price excludes all the fees associated with buying/selling in app.

If you buy gold in HG now, you need it to gain at least 8% to break even, or 10% if you keep it inside for 1 year due to management fee.

Will gold price go up that much, very probable. StashAway's latest update moved a lot more % into gold even after a 35% run up in last 12 months.

Alright thanks for sharing. Don't think will proceed with hellogold as there are too many cost to invest and even to sell investment.