Overview

This guide provides step-by-step instructions for individuals and businesses to buy or sell commodities through:

• GCMX Over-the-Counter (OTC) Market
• GCMX Spot Market

Our onboarding process ensures compliance, transparency, and secure trading across Nigeria and beyond.

SECTION A: OTC Market Participation

1. Selling on the OTC Market

• Identify a buyer (through network, broker, or GCMX)
• Agree on:
  • Commodity type and grade
  • Quantity
  • Price per metric ton
  • Delivery terms and location
  • Payment terms
• Submit the agreed terms to GCMX
• GCMX issues a contract note after review
• Seller arranges delivery (GCMX monitors if applicable)
• Buyer makes payment — trade is completed

2. Buying on the OTC Market

• Contact a seller or request introductions via GCMX
• Negotiate and agree on trade terms
• Register and document the trade with GCMX
• Make payment via escrow or direct as agreed
• Confirm delivery and satisfaction to GCMX

SECTION B: Spot Market Participation

1. Selling on the Spot Market

• Register as a GCMX broker or dealer
• Submit required documents:
  • KYC documents
  • Bank account details
  • Proof of commodity ownership or readiness
• Log into the GCMX Spot Trading Platform
• Create listing (commodity name, grade, quantity, location, price)
• Wait for buyer match or acceptance
• Deliver goods as per GCMX instructions
• Receive payment upon buyer’s confirmation

2. Buying on the Spot Market

• Register as a GCMX broker or dealer
• Access the GCMX Spot Platform
• Browse real-time commodity listings
• Place a buy order or accept a sell listing
• Pay into escrow or directly
• Receive goods and confirmation documents

Documents Required for Onboarding

For Individuals

• Valid ID (NIN, Passport, or Driver’s License)
• Bank Verification Number (BVN)
• Passport Photograph

For Businesses

• Corporate Affairs Commission (CAC) Certificate
• Tax Identification Number (TIN)
• Corporate Bank Account Details
• ID of Authorized Signatory