Allocated Metals
Definition: Precious metals (gold and silver at EONA) recorded against specific bars, rather than a general claim on a pool.
Why it matters: Your holding is recorded against specific bars with serial numbers (or a recorded share of them). This contrasts with “unallocated” metal, where you hold a general claim on the provider.
Spot Price
Definition: The current market price of a metal for immediate settlement, typically quoted per troy ounce.
How it's used: EONA’s prices are based on the international spot price from a professional market-data provider, refreshed approximately every 10 to 15 minutes, plus a premium. The price that applies is the one shown on the platform when you confirm your order.
Spread and Commission
Definition: The spread is the difference between the spot price and the price you pay or receive. Commission is a separate fee on each transaction.
At EONA: Prices include a premium to the spot price when you buy and a discount when you sell, and a commission applies to each purchase and sale. See our Fees & Spread page.
Why it matters: Published rates mean you know how your price is built before you buy.
Vault
Definition: A high-security facility where metal is stored.
Location: Dubai, with Loomis. Zurich and Singapore are planned locations (coming soon) and are not currently available.
Storage fee: 0.50% per year for gold and 1.00% per year for silver, plus 5% VAT.
Withdrawal
Definition: Taking physical delivery or collection of metal from the vault.
At EONA: Not currently offered. You realise the value of your metal by selling it back to EONA, with proceeds paid to your verified bank account.
KYC (Know Your Customer)
Definition: A compliance process to verify your identity before you can buy or sell.
Purpose: Ensures legal compliance, prevents fraud, and protects your account.
At EONA: Required under UAE AML rules; often quick, but some cases need manual review.
Custody Risk
Definition: The risk that your metal is lost, not properly recorded or not accessible.
How EONA mitigates this: By recording your holding against specific bars, keeping client metal separate from its own assets, and using an independent vault operator (Loomis) with independent stock checks.
Real Ownership
Definition: Ownership of specific, identifiable physical metal — not a paper claim.
How EONA enables it: Your holding is recorded against specific bar serial numbers, visible in your account.
Vault Insurance
Definition: Insurance maintained by a vault operator for its own business.
At EONA: The vault operator, Loomis, maintains insurance under its own policy. EONA does not promise that it covers you or your metal directly or in full.