How to Buy a Precious Metals Basket on Trading 212: PHPM & Fees Explained

Updated 31 July 2026

You can get exposure to all four major precious metals through a single investment that combines gold, silver, platinum and palladium. It trades on the stock market just like a share, giving you diversified exposure without having to buy each metal separately. This guide shows exactly how to buy a precious metals basket on Trading 212, how the portfolio is weighted, and how to place your order.

Each metal moves for different reasons: gold as the safe haven, silver on industrial demand, platinum tied to hydrogen fuel cells, and palladium to auto catalysts. Predicting which one leads next is difficult even for professionals, which is why a basket spreads that bet across all four. If you’d rather build your own mix, we also cover how to do that using individual products on Trading 212.

 

 

 

 

Key Takeaways

• A precious metals basket ETC holds gold, silver, platinum and palladium in one physically backed product.
• The ETC structure is VAT-free across all four metals, which matters most for silver, platinum and palladium.
• The main product is WisdomTree Physical Precious Metals (PHPM), with an ongoing charge of around 0.44%.
• Gold typically dominates the basket by weight, so performance leans heavily on gold.
• A basket is more fee-efficient than buying and rebalancing four separate ETCs.

 

What You Are Actually Buying

Buying a precious metals basket on Trading 212 does not mean a collection of gold, silver, platinum and palladium bars arriving at your door.

Owning all four metals physically would require four separate bullion purchases, secure storage, and different tax treatment. While investment-grade gold is exempt from VAT in the UK, physical silver, platinum and palladium are generally subject to 20% VAT.

That makes building a diversified physical portfolio both expensive and impractical.

So what are you actually buying? Instead of taking delivery of the metals, you buy a single investment that gives you exposure to all four. The metals remain securely stored in professional vaults, while you own a share representing your investment.

Because the metals are not supplied directly to you, VAT is not charged on the silver, platinum or palladium holdings, allowing your entire investment to start working immediately.

This type of investment is called an Exchange-Traded Commodity (ETC). It is physically backed, meaning each investment is supported by allocated holdings of gold, silver, platinum and palladium stored on behalf of investors.

Precious metals are one corner of a wider asset class, and our guide on how to buy commodities covers the full range.

 

Basket vs Individual Metals: Which Is Better?

A precious metals basket ETC holds a fixed allocation across gold, silver, platinum and palladium, typically weighted by market value and rebalanced to the index methodology.

If one metal outperforms and another lags, the basket smooths the ride, and you get diversified exposure in a single trade.

WisdomTree Physical Precious Metals (PHPM) holds all four, with gold the largest slice because of its higher market value.

Buying separate ETCs for each metal instead gives you full control: you can overweight the metals you are most bullish on and underweight the rest.

The basket suits a set-and-forget approach without managing four positions; the individual route suits investors with strong views on specific metals.

Things to Watch Out For (Fees and Currency)

Trading 212 charges a 0.15% currency conversion fee, and the basket is priced in US dollars, so a pound account pays it on the buy and the sell unless a GBP line is used.

It is also worth understanding the weighting: in PHPM, gold tends to dominate by market value, so the basket largely follows gold. If you specifically want more silver or platinum, you may want to top up with an individual ETC.

The ETC Questionnaire

There is  also one quick step to know about before your first purchase. Because ETCs are classed as complex products, Trading 212 may ask you to complete a short appropriateness questionnaire before you can buy one. Our guide to the Trading 212 ETC questionnaire explains exactly what it asks and how to complete it.

How to Buy a Precious Metals Basket on Trading 212: Step by Step

Step 1: The Search

Open the search, the magnifying glass icon, and type Physical Precious Metals.

Make sure you are looking at the basket product rather than an individual metal, and filter to the ETFs section to narrow the list.

 

Step 2: Choosing Your Product

For 2026 the main basket on the platform is WisdomTree Physical Precious Metals (PHPP).

It is a physically backed ETC holding gold, silver, platinum and palladium in institutional vaults with HSBC as custodian, and it has traded on the London Stock Exchange for many years.

Its ongoing charge is around 0.44%, which compares well against paying four separate expense ratios and managing four positions.

 

 

Building Your Own Basket

If you would rather build your own basket, you can combine individual ETCs and set the weighting yourself.

For the gold portion, our guide on how to buy gold compares iShares Physical Gold (SGLN) with Invesco (SGLD).

The silver choices are iShares (SSLN) and Invesco (SLVP), which how to buy silver walks through.

Platinum has one main option, WisdomTree Physical Platinum (PHPT), covered in how to buy platinum.

For the palladium slice, how to buy palladium weighs WisdomTree (PHPD) against Invesco (SPAL).

Each metal has its own detailed guide, so you can research the exact holding before you commit.

 

 

Step 3: Checking the Details

Click into the product and scroll to Instrument Details.

Expect an ongoing charge around 0.44%, shown as the expense ratio, which is good value for a four-metal product. Then check the currency, whether it says USD, EUR or GBP/GBX.

 

 

Step 4: Market vs Limit Orders

When you press buy you have a choice in the top right. A market order buys instantly at the current price, which is convenient but can slip if the price moves while it processes.

 

 

A limit order lets you set the maximum you will pay and only fills if the price dips to your level, giving you more control.

 

Market and limit orders are just the starting point. Trading 212 also offers stop orders, stop-limit orders, and other tools that can help you buy at a specific price or protect against sudden drops. For a full breakdown of how each order type works and when to use them, see our guide on Trading 212 order types.

 

Conclusion

For most people, a single basket ETC like PHPM is the simplest way to hold gold, silver, platinum and palladium together on Trading 212, without managing four separate positions.

Bear in mind it is weighted towards gold, so if you want more of another metal you can top up with an individual ETC. Either way, you can buy in a few taps, using a limit order if you want control over the price.

 

FAQ

What Is a Precious Metals Basket ETC?

It is a single physically backed product that holds gold, silver, platinum and palladium together, giving diversified exposure to all four in one trade. WisdomTree Physical Precious Metals (PHPM) is the main example.

Is the Basket VAT-Free?

Yes. The ETC structure avoids VAT on all four metals, which is especially valuable for silver, platinum and palladium, where physical bars would carry 20% VAT in the UK. (Tax treatment depends on your individual circumstances and regulations which may change.)

Can I Hold a Precious Metals Basket in an ISA?

Yes. Precious metals basket ETCs can be held in a Stocks and Shares ISA, so any gains are tax-free. (Tax treatment depends on your individual circumstances and regulations which may change.)

Is a Basket Better Than Buying Each Metal?

A basket is simpler and more fee-efficient and handles diversification for you, but it is gold-heavy. Individual ETCs give you control over the exact allocation. It depends on whether you want convenience or control.