Precious Metal Account.
The following requirements accounts for opening a metal account at Mentrax Refinery.
01. Application to Open an Account:
To start, you’re required to send us an application via email at vaults@mentraxrefinery.com. You would be required to pay a one-time registration fee of Twenty thousand United States Dollars (USD$20,000) and complete a Metal Account Opening Application form for the registration and due diligence purposes.
02.Buying Metals:
Once your account is set up, you can buy or sell precious metals. The price will be based on the current market rate or be subject to negotiated discounts agreed or offered, plus any commission or fees charged by Mentrax. When your purchase is complete, Mentrax will credit your account with the quantity of metal you purchased. The purchased gold then shall be subject to your instructions.
03.Holding AU Metals (Vaulting):
The AU metal (gold) you buy is usually held in a suspense account controlled by Mentrax prior to the purchase. All metals intended for sale are credited to the suspense account by their respective sellers. The suspense account is the Refinery's generalized metals (Gold and Silver) holding. In an allocated account, specific gold bars are set aside for you. All specific allocated accounts attract storage, security and insurance fees.
04.Selling Metals
When you want to sell, Mentrax will debit the amount of metal from your Metal account, credit the metal quantity to the Suspense Metal Account and credit you with the cash equivalent, based on the current market rate or the agreed purchase price.
05. Physical Delivery:
We offer the option to take physical delivery of the metal (gold) in any of shops in major cities globally. This means you can either convert your metal balance into physical bars subject to the availability of gold bars stock, or just proceed to take possession of your actual gold bars balance if any. This may attract charges subject to your gold bars delivery instructions.
Mentrax provides clients the means to store either gold or silver in their metal Accounts;
- Gold: Gold is by far the most predominantly precious metal held globally for trading or investment purposes. Gold is a popular investment due to its historical use as a store of value and its relative stability compared to many other forms of investment.
- Silver: Silver is another commonly held metal. While it is typically less valuable per ounce than gold, it has many industrial uses and can be a valuable investment.
