In this article we’ll carry out and take an in depth, BullionVault review. Their online trading platform, allows anyone willing to buy or sell silver and gold for as little as $100. BullionVault is part-owned by the World Gold Council, with over $2billion in holdings boasting more than 50,000 users. They hold somewhere in the region of 32 tonnes of gold, worth $1.3 billion – more gold reserves than most countries.
It has twice been recognized by the UK’s most prestigious business awards, in 2013 BullionVault won an International Trade Award for growing overseas sales by 140% in three years, they also won a Queen’s Award for Enterprise Innovation in 2009. BullionVault is also a full member of the London Bullion Market Association. LBMA is part of the world’s largest physical bullion marketplace.
BullionVault have storage vaults with professional security company ViaMat and Brinks in five locations worldwide. These are London, New York, Toronto, Zurich and Singapore.
BullionVault Review Costs
The commission rates for BullionVault are the lowest compared to their competitors. For buying / selling silver or gold they charge 0.5% on the first $75,000 (or equivalent) and on the next $750,000 you’ll be charged 0.10%.
Storage & insurance applies as long as you hold gold or silver:
0.12% per year on gold, billed monthly and subject to monthly minimum of $4.
0.48% per year on silver, billed monthly and subject to monthly minimum of $8.
How Does BullionVault Work?
It’s quite simple as I can speak from first hand experience.
First of all you need to open a BullionVault account. Secondly, you will need to fund your account direct from your bank account. Finally, you’ll be able to buy gold or silver, by clicking on the ‘Buy at best price‘. It really is that easy.
At the time of publishing this BullionVault review, from the above – 1 oz of silver is approx. $20.75. To buy a single 1 oz silver coin the average cost is approx. $25.00. On top of this $25.00 silver coin, you would also need to factor in delivery charges, taxes and the big dilemna of where to store the silver or gold.
Once your account has funds, you can choose your storage location (London, New York, Toronto, Zurich and Singapore) at the time of buying your gold or silver. If you decide to change vault locations, you will have to sell the precious metals stored in one location, then buy your silver or gold in the other location.
My top BullionVault Review tip – You can have your precious metals stored in more than one location. You can also buy both gold or silver.
You then have two weeks to validate your account with photo ID, such as a passport, drivers license and a recent statement from the bank account you’ll be using for your transactions. This is to prevent any fraudulent activities.
Storage & Security In BullionVault Review?
BullionVault store their company funds at Barclays and all client money goes through Lloyds Bank. They have over $1.3billion in actual, physical gold stored in independent storage vaults, note – these are stored in high street nor central bank vaults.
ViaMat and Brinks are independent professional bullion market vault operators and are service providers to BullionVault.
How Often Are the Vaults Audited?
BullionVault review or audits are carried out everyday, using an independent auditing firm to confirm the quantity and quality. BullionVault house their clients precious metals in a separate area within the storage vaults.
Independent BullionVault Reviews
“Ideas like this don’t come along very often. This is a high-quality website”. Doug Richard – The Financial Times
“The most secure way to invest in physical gold…” – Sunday Telegraph
“Dramatically cuts the cost of gold ownership…” – Financial Times
“World’s No.1 gold ownership and trading service online.” CNBC
… Bullion Vault’s annual fee for storage and insurance, by comparison, is only .12%, less than one-third … traders, investors and competitors alike will find BullionVault.com a very tough act to follow. Buying bullion keeps getting easier, Chip Hanlon – 321gold article –
“It allows investors to buy gold at the lowest-possible markup and store it at the lowest-possible price”. Bill Bonner – The Daily Reckoning
“It is reassuring that The Queen agrees with my own view of BullionVault”. A BullionVault Review Customer
Independent research company Trust Pilot asked customers to give a honest BullionVault review. Out of 243 customers leaving a BullionVault review they are currently averaging an amazing 91% positive feedback.
The two negatitive reviews I found, the first one sounded like the company had gone broke and therefore the bank account was no longer available, so no withdrawals could be made. Hardly BullionVaults mistake. The second was moaning about storage fees, but it seemed to me this person hadn’t read about the storage fees – which by the way are the lowest in the industry.
I trust you enjoyed this BullionVault Review and are ready to take action into securing your future today.