FAQ - Frequently Asked Questions
1. What is SEC?
SEC Group is a precious metals & financial services group specializing in all aspects of Bullion trading. Our UAE branch was established under the commercial license No. 870801, issued from the Department Of Economic Development in Dubai, to run its operations in the MENA region.
2. What precious metals I can trade with SEC?
Gold, Silver, Platinum and Palladium.
3. How can I buy gold and other precious metals with SEC?
There are two methods:
a) Bullion Account: Buy gold and other precious metals through one of our trading platforms after successful account opening. Physical redemption for bars and coins can be done any time in the future; otherwise, your purchased metals will be stored in our secured vaults.
b) SEC Store: purchase physical bars and coins from our store. Physical delivery will be done to your doorstep.
4. What is the bullion trading platform?
A trading system that allows the registered bullion customers to trade in all precious metals 24/5 on the international spot market rates.
There are three types of trading platforms; Web based platform (Web-Trader), Desktop platform (SEC bullion Platform) and Smart phones (I- trader or A-trader).
5. How can I access my bullion account?
Upon opening your bullion account successfully, our Back-Office Department will provide you with all the required access details including the user name and the password.
6. How can I open a Bullion trading account?
Two easy methods to open the account;
a) Go to “Live Registration” on our website and follow the steps. In this way you can open your account and fund it within a few minutes.
b) Download the opening account forms, sign them, and send them back to firstname.lastname@example.org along with your passport copy and a proof of your physical address. In this case, your account will be opened within less than 24 hours.
7. What are the types of Bullion account?
There are two types;
a) Regular Bullion Account
b) Special Bullion Account
8. What is the Regular Bullion Account?
No leverage or margin facility in this type of account. You can buy precious metals up to the maximum limit of balance available in your bullion account.
9. What is the Special Bullion Account?
Special Bullion account allows you to pay a certain percentage from your transaction value in order to increase the possible return on investment. In this account, we are increasing your purchasing power 5, 10, or 20 times.
10. Can I sell the purchased gold and other precious metals back to SEC?
Yes, you can sell your purchased precious metals online through your bullion account, or physically if the commodity was under your custody. In both cases, we are buying back on the international spot market prices.
11. What is the minimum Quantity of gold and other precious metals I can buy from SEC?
1 Oz of Gold, Platinum or Palladium.
10 Oz of Silver.
12. On what price I can buy/sell gold and other precious metals from SEC?
You can trade precious metals on the international spot market rates which are available 24 hours, 5 days a week, starting from Monday 3:00 am (Dubai Time) and Saturday 2:00 am (Dubai time).
13. What is the difference between buying from the E-store or through the Bullion Account?
In the store, you are buying physically without having the trading or the storing facility. Just, buy, and the physical bars or coins will be delivered to your destination.
Bullion Account: you can buy, sell, hold, store, or even redeem your physical precious metals without any timing restrictions.
14. Is there any charge for opening a bullion account?
Account opening is Free of charge.
15. What currencies SEC bullion can accept in its bank accounts?
AED, USD, or EUR
16. What charges do I need to pay upon trading with SEC?
Upon purchasing of Gold and precious metals, we charge commission which depends upon the quantity of the metal bought and the type of account you have, and upon selling, it’s free of charge.
17. How can I fund my bullion account?
There are different solutions to fund your Bullion Account:
a) Cash Deposit/ wire Transfer into one of our bank accounts
b) Credit card/ Debit Card through our online payment gateway
c) Bullion Deposit, We can buy physical gold/silver bars on the spot market rate and the value of the bars will be reflected in your bullion account to start your trading activity.
18. Is SEC only available in UAE?
Our precious metals trading services are worldwide. You can open a bullion account, trade all precious metals, and place your request for physical redemption wherever you are in the globe.
19. How do I withdraw my funds back? Is there any restriction involved? How long does it take?
No restrictions at all, all you need to do is to fill & sign the withdrawal form, and your funds will be transferred to your registered bank account. This process might take upto 72 hours in the normal market conditions.
20. How long time does it take to redeem my physical bars or coins?
It will take 2-3 working days in the normal market conditions.
21. What Bullion certification does SEC provide? What kind of precious metals brands we are selling?
All our bullion bars & coins are matched with the Dubai Good Delivery Standards (DGD) or the London Good Delivery Standards (LGD). SEC are selling & buying a wide range of acceptable & well-recognized local brands like; Emirates Gold, Nadir Metals and Etihad, and a global brands like; PAMP, Credit Suisse and VALCAMBI. You can easily sell our physical items back to us, or anywhere in the world.
22. Is there any minimum amount to be maintained with SEC bullion account?
No there isn’t.
23. Does SEC offer delivery service for the purchased precious metals?
Yes, we do offer delivery services all over the world through a secured transport companies (G4S, Brinks or Transgaurd)
24. Does SEC provide any market overview or technical analysis and forecast?
Our social networks pages, our website portal, our blogs, email subscriptions and the like allows the clients to have an extensive analysis of the prevailing gold/precious metals marke