e-gold is an electronic currency, issued by e-gold Ltd., a Nevis corporation, 100% backed at all times by gold bullion in allocated storage.
Other e-metals are also issued: e-silver is 100% backed by silver, e-platinum is 100% backed by platinum, and e-palladium is 100% backed by palladium. However, the most popular e-metal (by an overwhelming margin) is e-gold.
e-gold is integrated into an account based payment system that empowers people to use gold as money. Specifically, the e-gold payment system enables people to spend specified weights of gold to other e-gold accounts. Only the ownership changes - the gold in the treasury grade vault stays put.
In other words, e-gold is an internetional payment system, which allows it's customers to make fast, inexpensive and reliable transactions over the Internet. That's why e-gold is a very recomended method for depositing and withdrawing funds with the FOREX broker companies. Following on-line Forex brokers support e-gold: