Dear All, As Salam Aleykum
I came across a very interesting fintech of islamic finance with many options. I wanted to explore the gold savings plan with this company.
If anyone has any experience or reviews then please share. Following is the website for the portal
JazakAllah
Salam aleykoum,
I just cancelled my subscription with them after 1 month because I noticed that the gold bought the first month were 7% higher the market price in the same period. Consequently, I need more then 7% of performance to recover my investment.
I don’t know if it’s something normal as I am not used to invest in gold but it doesn’t suits me, so I cancelled.
Waleykum as Salam @Yassir
Thank you for the feedback. Yes indeed buying at 7% higher than market value would definitely take time to recover this amount.
May I ask, how did they refund you? Was it the amount invested returned, or as they offer on their website they sent the purchased gold?
I cancelled during the 14 first days (withdrawal period), and they reimbursed all the amounts paid (gold invested + fees).
I precise that it is only my personal experience and maybe I was unlikely. Maybe the buy gold at a fair price usually.