Purchasing Silver and Gold on Webull in 2022

How to purchase gold and silver on Webull. Beginner investors can discover how to buy precious metals mutual funds, ETFs, gold bars, stocks, coins, and more on Webull.

Silver and Gold Trading at Webull

Even though this online broker doesn’t currently offer trading in all asset classes, they deliver a few opportunities to enter the precious metals market as an investor. By paying close attention to the following instructions, investors will learn how to place different types of trades on silver and gold.

(This is an ongoing series about precious metals trading with online brokerages.   You may also want to check out the prior post about using Ally Invest and Fidelity to buy gold.)

Investing in Mining Companies

Clients of Webull are provided immediate access to the largest equity exchanges in the United States. The stockbroker provides customers with a stock screener that is capable of delving through various exchanges to discover gold mining stocks.

We discovered some of their top securities in this market by looking deeper at the sector “Mineral Resources.” Investors also have the ability to type a company name or ticker symbol into their search field to learn detailed information about investments that they are currently interested in.

Newmont Goldcorp. is one solid investment that investors will find under ticker symbol NEM. Their website provides a lot of detailed information about the security. One thing we’ve learned is they offer a quarterly dividend of $0.56 and their overall market cap is $17 billion.

Webull doesn’t share stock reports from independent analyst son their platform, but they do mention trade recommendations from analysts. Newmont had a buy recommendation when we performed this research, with other opinions considering it a strong buy or hold. The price target was $47.10 per share at the time of this writing.

Investors can also purchase American Depository Receipts on Webull as well as traditional stocks. This is great because many top gold mining stocks are actually ADRs. After using their screener, we discovered an ADR named SSR Mining Inc., which focuses on silver and gold exploration and the company is based in Canada.

Trading the precious metals market is possible using other potential opportunities. One opportunity is to sell or buy options contracts on ADRs and mining stocks. Very recently, Webull has added options trading and derivatives to their current offerings, which makes it an even more well-rounded brokerage house.

Silver and Gold-Based Funds

Additionally, another alternative investment besides ADRs and stocks is to invest in gold and silver ETFs, which currently trade on the major United States stock exchanges. All of the top precious metals ETF’s are available to trade on Webull.

Unfortunately, one disappointing fact that we learned is the Webull stock screener doesn’t function at peak performance levels when it comes to looking up various ETFs. But, if the ticker symbol is known, investors can enter it into the search engine on the platform. This will provide ample information to use when it comes time to make decisions about particular trades.

Is there another way to tap into the precious metals market on Webull? Yes, investors can look into ticker symbol DBP, which represents Invesco DB Precious Metals Fund. This metals backed fund doesn’t have any specific bonds or stocks in their portfolio. And they do not have gold, silver, platinum, or palladium bullion within the fund.

What makes this investment special? It gives investors the opportunity to gain a foothold into the precious metals futures market. Investing in this security means investing in precious metals futures. One caveat is that Webull doesn’t give investors the opportunity to short this security on their platform.

Comparison

Customers of Tastyworks can sell or buy futures contract options or the futures contracts themselves on their site. This broker delivers even more investing opportunities than Webull. There is a $1.25 fee to buy or sell contracts on both sides of the investment.