Sendgold, page-34

Good to see more sensible limits introduced.

I logged on & put in a quote to buy for $4,999.99 of gold & using the SPOT rates for gold & AUD:USD, the $10 transaction cost + 1% margin on gold in came out that the margin applied to the AUD:USD came out around 2.5%.
This seemed a little high, what is your experience with regard to the actual rates you received?
Is there visability in the settlement details to see how the price you paid was arrived at.

I think the biggest flaw currently in using their platform is the inability to fixed your purchase price at the time of ordering, which i understand from the mngt is being rolled out later. The prices could change dramatically between ordering & settlement, which may be fine if you're just sending small amounts as payment but it makes buying & holding as an investment untenable.
It seems like they don't have the systems in place yet for real time processing of orders direct to the gold/currency markets for individual orders.

They're also going to change the units etc of gold bought to match the familiar local units so mg should change to oz for Australian customers.