ABX

Allocated Bullion Exchange (ABX) is an Australian-incorporated electronic exchange dedicated to the trading of physical precious metals. Founded in November 2019 and headquartered in Brisbane, Australia, the exchange operates under the brand name ABX and offers its services through a proprietary platform known as MetalDesk. ABX positions itself as a global institutional platform connecting seven major trading hubs for allocated bullion, including gold, silver, and platinum.

The company’s registered address is GPO Box 569, Brisbane Qld 4001. ABX maintains a corporate presence on Facebook, LinkedIn, and Twitter/X. While the exchange is not a retail forex or CFD broker, it targets participants across the precious metals supply chain, from miners to investors, who seek to trade, store, or take delivery of physical bullion in a standardised and transparent environment.

ABX states on its official website that it is subject to oversight by the Australian Securities and Investments Commission (ASIC) and is required to publish annually audited financial statements under the Corporations Act 2001. However, the company also clarifies that trading in physical precious metal bullion does not constitute a financial product under Australian law and therefore does not require an Australian Financial Services License (AFSL).

Our records show no specific regulatory license on file for ABX. Traders should note that while the exchange claims ASIC oversight, the absence of an AFSL means that typical investor protections afforded to clients of licensed financial services providers may not apply. Independent verification of the exchange’s compliance and financial standing is advisable.

ABX facilitates the trading of allocated physical gold, silver, and platinum. Products are offered in standardised contract sizes, including wholesale 10 kg gold bars with a minimum fineness of 9999 and 1 kg cast gold bars with a minimum fineness of 995. The exchange quotes prices in USD per fine troy ounce, with a tick size of $0.01. Minimum deposit and withdrawal quantities are set per contract type, typically one bar or lot.

The exchange does not offer derivatives, leveraged products, or short-selling capabilities. All trades involve the transfer of title to physical bullion, which can be stored in ABX’s network of vaults or delivered to the member.

The core trading environment is MetalDesk, an online platform that provides access to ABX’s exchange. According to the company, MetalDesk aggregates price discovery from 11 global trading hubs, offering a consolidated view of bid and offer prices across locations. The platform is designed for institutional users and supports trading, clearing, and settlement functions.

ABX claims that the platform is the first of its kind to bring together global liquidity in a single interface for physical bullion. The exchange also offers clearing and settlement services, acting as the central counterparty to all trades. Settlement occurs immediately upon execution, with funds settlement on a T+1 basis.

Access to ABX is membership-based, with different tiers likely including Full Members and possibly other categories. The exchange screens applicants for financial health, creditworthiness, and operational due diligence before approving membership. Full Members appear to handle client fund settlement and can offer services to end customers.

ABX states that no client funds are received directly by the exchange; instead, funds flow through the member. The exchange also mentions white label solutions, suggesting that other institutions can offer ABX’s services under their own brand. A demo version of MetalDesk is available for interested parties.

ABX is explicitly not a retail forex broker. Its target audience includes institutional participants such as miners, refiners, bullion banks, and investment firms that require a regulated and transparent venue for trading physical precious metals. The exchange’s emphasis on allocated bullion—where specific bars are allocated to the owner—appeals to those seeking direct ownership without counterparty risk.

The exchange may also be suitable for high-net-worth individuals or family offices that participate through a member. Retail investors looking for leveraged speculation or forex trading would not find ABX appropriate for their needs.