You can buy gold ETFs through any brokerage account — online brokers, traditional banks, and investment apps all offer them

A gold ETF is a fund that tracks the price of gold and trades like a stock. You buy shares through a brokerage, which is a company licensed to buy and sell securities on your behalf. The brokerage holds your account, executes your trades, and keeps records for tax purposes. You do not need a special account type — a regular taxable brokerage account works, as does an IRA if you want tax-deferred growth.

The brokerage you choose affects three things: the commission you pay per trade, the range of gold ETFs available, and the tools you get to research them. Some brokers charge nothing per trade; others charge a flat fee. Some offer dozens of gold ETF options; others offer fewer. Most online brokers now offer commission-free stock and ETF trading, which has made the cost difference smaller than it once was.

Key Takeaways

  • Gold ETFs trade through any brokerage — online brokers like Fidelity and Charles Schwab, traditional banks, and investment apps all carry them.
  • Most online brokers charge no commission per trade, so your main cost is the ETF's annual expense ratio, which ranges from about 0.2% to 0.7% depending on the fund.
  • You need a brokerage account before you can buy any ETF; opening one takes 10 to 20 minutes and requires proof of identity and a Social Security number.
  • The gold ETF you choose matters more than the brokerage you choose — different funds track gold differently, and some are more tax-efficient than others.

Online brokers and what they offer for gold ETF trading

Online brokers are the most common route because they charge no commission per trade and let you buy in small amounts. Fidelity, Charles Schwab, E*TRADE, TD Ameritrade, and Robinhood all offer gold ETFs commission-free. Each one has a searchable list of available funds, research tools, and the ability to set up automatic purchases if you want to buy regularly.

The difference between them is usually in the research tools and account features. Fidelity and Schwab offer more detailed fund analysis and lower minimum account balances. Robinhood and other mobile-first brokers are simpler but offer fewer research tools. E*TRADE and TD Ameritrade sit in the middle. All of them require you to open an account, which involves providing your name, address, Social Security number, and employment information. The process takes 10 to 20 minutes and is done online.

Once your account is open and funded, you search for the gold ETF you want by its ticker symbol — common ones are GLD, IAU, and GLDM — enter the number of shares you want to buy, and place the order. The trade settles in two business days, meaning the shares appear in your account and you own them.

Traditional banks and investment firms

If you already have a checking or savings account at a bank, that bank may offer brokerage services through a subsidiary or partner. Bank of America, Wells Fargo, and JPMorgan Chase all have investment divisions that let you trade ETFs. You may be able to open a brokerage account without leaving the bank's website or app.

The trade-off is that traditional banks often charge higher commissions or have higher minimum account balances than online brokers. Some charge $5 to $10 per trade. Others waive commissions if you maintain a certain balance or have a premium account. The research tools are often less detailed than what online brokers offer. If you value convenience and already trust your bank, this route works, but you will likely pay more or have fewer options.

Investment apps and fractional share platforms

Apps like Fidelity Go, Betterment, and Wealthfront let you buy fractional shares of ETFs, meaning you can invest $50 or $100 instead of needing enough money for a full share. Some of these apps focus on automated investing — you set a goal and they build a portfolio for you, which may include gold ETFs. Others let you pick individual ETFs yourself.

The cost structure is different from traditional brokers. Instead of per-trade commissions, many charge an annual advisory fee (usually 0.25% to 0.50% of your account balance) or offer a free tier with limited features. If you want to buy gold ETFs on your own terms rather than as part of an automated portfolio, a traditional online broker is usually cheaper. If you want someone to manage the allocation for you, an app-based advisor may be worth the fee.

IRAs and retirement accounts

If you want to hold gold ETFs in a tax-deferred account, you can open a traditional IRA or Roth IRA through any brokerage. The same brokers that offer regular taxable accounts — Fidelity, Schwab, E*TRADE — also offer IRAs. You fund the IRA with money you contribute (up to $7,000 per year for most people, or $8,000 if you are 50 or older), and then you buy gold ETFs inside that account the same way you would in a taxable account.

The advantage is that gains inside an IRA are not taxed until you withdraw the money (in a traditional IRA) or never taxed at all (in a Roth IRA). The disadvantage is that you cannot withdraw the money before age 59½ without paying a penalty, with some exceptions. If you are saving for retirement and want gold as part of that portfolio, an IRA is worth considering. If you might need the money sooner, a taxable account is more flexible.

What to compare when choosing a brokerage

Start by checking whether the broker offers the specific gold ETF you want to buy. GLD (SPDR Gold Shares) and IAU (iShares Gold Trust) are the two largest and most widely available. GLDM (SPDR Gold MiniShares) is smaller but has a lower expense ratio. Most brokers carry all three, but some smaller brokers may not. Search the broker's website or call their customer service to confirm.

Next, check the commission structure. Most major online brokers charge zero commission per trade for ETFs. If a broker charges a commission, factor that into your decision — a $5 commission on a $500 purchase is 1% of your money gone before you even own the ETF. Then look at the annual expense ratio of the ETF itself, which is a percentage of your investment charged each year. This ranges from 0.2% to 0.7% for gold ETFs and is charged regardless of which broker you use.

Finally, consider the account features. Do you want automatic investing? Do you want detailed research tools? Do you want a mobile app? These are personal preferences, but they matter for how often you will actually use the account. If you are buying once and holding, the features matter less. If you plan to rebalance regularly or research different funds, they matter more.

Frequently Asked Questions

Do I need a lot of money to start buying gold ETFs?

No. Most brokers have no minimum account balance, and you can buy as little as one share. Since gold ETF shares typically cost $150 to $200 each, you can start with $200 to $300. Some brokers and apps offer fractional shares, so you can invest even smaller amounts.

What is the difference between GLD, IAU, and GLDM?

All three track the price of gold, but they differ in size and cost. GLD is the largest and most traded. IAU is also large and widely held. GLDM is smaller but charges a lower annual fee (0.2% versus 0.25% for the others). For most investors, the difference is small enough that any of the three works.

Can I buy gold ETFs in a regular savings account?

No. ETFs are securities and can only be bought through a brokerage account. A savings account at a bank holds cash only. You need to open a separate brokerage account, which is free and takes about 15 minutes online.

Will I owe taxes on gold ETF gains right away?

In a taxable account, yes — you owe taxes on gains when you sell, not when you buy. In an IRA, no — taxes are deferred until you withdraw. Gold ETFs held longer than one year may have access to for long-term capital gains rates, which are usually lower than short-term rates.

What happens if the brokerage goes out of business?

Your shares are protected. The Securities Investor Protection Corporation (SIPC) insures brokerage accounts up to $500,000 per account holder per broker. Your gold ETF shares are yours regardless of what happens to the brokerage — they are held in your name and can be transferred to another broker if needed.