Everest gold - Wondering if anyone had heard about this company? Is this a scam?

Didn't receive my egu, stay away

Check out the glassdoor reviews though. :)

Hi, also quite curious about this, from what I've researched about it it says that Everest Gold buys the Gold Bars from Metalor, then issues out digital gold units known as EGUs that are backed by this physical gold bars. Only issue is that when you sell, who are you selling to? are you selling back to Everest Gold? because this doesn't exactly seem like a order driven market, especially when liquidity is required, since I can assume there isn't that many people on the platform now actually filling up buying and selling orders.

Also, they say that price is benchmarked against international gold price, and initially I was scratching my head as I was wondering how a 0% commission, 0% custodian fee, 0% management fee firm can keep the lights on for their firm. I realised it's because they are still earning via a spread on the benchmarked spot price, so you aren't paying for spot (if anyone was confused like I was), you're paying spot + spread.

So what I'm getting now is that when they say buy or sell, you are "buying" and "selling" against Everest Gold, not another trader, so I don't exactly understand this terminology of "trader" since you aren't really trading per se.

Would greatly appreciate if anyone knows more about this "buy"/"sell" thing, or if anyone sees that what I've written is wrong, kindly correct me!

Nopes, they're legit. I've performed trades and withdrawn money from trades as well. They have a signup program currently. Don't even need to fund your account to withdraw that bonus! :)