BullionVault is a gold and silver market for online private investors, allowing clients to buy and sell gold and silver at discounted prices. Additionally, it is a gold, silver, and platinum dealer that operates in more than 175 countries worldwide.
The business is based in the UK and has storage facilities there and in five other countries. In this review, we discuss the variety of services that BullionVault provides, the location of client bullion storage, the costs associated with using the service, and a basic summary of service operations.
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BullionVault was formally introduced as a service in 2005. This firm raised more than £3 million in equity capital through Garmarley LTD, a London, UK-based business, and saw its first successful year as a bullion trader in the same year. Private investors can trade gold and other precious metals from BullionVault, including silver bullion and platinum bullion.
The business provides storage through vault operators affiliated with the London Bullion Market Association in five separate nations (LBMA). Traders can also place orders in up to four different currencies in the shape of coins or purified bars.
Furthermore, BullionVault is the world’s largest physical gold and silver market for private investors online. It also received an award in 2013 for International Trade after growing overseas sales by 140% in four years.
The following three to four expenses are related to BullionVault:
Dealing commissions when you buy and sell: Starting at 0.50% for smaller amounts, it falls to as low as 0.05 for larger amounts.
Storage fees: This is 0.12% a year.
Burglar alarm: This fee is optional, but the service notifies you of withdrawals from your account and changes to cell phone numbers and other sensitive data stored in your online account. Each text only costs $0.20.
Fund remittance charges: Most UK withdrawals are free, but charges are up to £20 by Chaps and $30 via SWIFT.
Essentially, for physical gold bars with whole good delivery (400 troy ounces), the withdrawal fee is 2.5% of the value. A surcharge of around 3-6% is applied to 100g gold bars; for non-standard sizes, the premium is 7.5%.
The amount withdrawn is reduced by the probable expense of sending money directly to the client’s bank. Usually, the fee doesn’t go over $30. In the European Union, there are no fees associated with wire transactions.
Special fees are charged for BullionVault’s Automatic Gold Investment Plan. On transactions that involve the purchase and sale of gold at the daily London price, BullionVault levies a 0.8% transaction fee.
BullionVault’s ongoing charges for storage, including insurance, stay the same.
Zurich, London, New York, Toronto, and Singapore are the places where the gold is currently stored. Essentially, the customer chooses where to store the gold, silver, platinum, or palladium bullion.
The following currencies are available for payment: Euros, Dollars, Pounds, or Japanese Yen.
BullionVault does have reduced spreads and fees as of the time of writing. However, as these prices and features are constantly evolving, it is advisable to check the most recent data.
With BullionVault, precious metal traders can buy or sell physical bullion. There are a total of four metals available for selection:
In all five storage locations—the UK, Switzerland, USA, Canada, and Singapore—the metals can be purchased as pressed bars or as coins for delivery to the UK exclusively.
Traders can filter the various markets when looking at bullion products on the website by storage location, weight unit, and minimum order size.
Additionally, customers will be able to buy or trade gold with other customers.
On the BullionVault website, there are a wide variety of coins available. The dealer currently has six different coins available. Specific measurements are assigned to each coin so that buyers and sellers can calculate the price.
Additionally, the South African Mint offers Krugerrand coins, the Canadian Royal Mint offers Gold Maple Leaf coins, and the Perth Mint in Australia offers Gold Kangaroo coins.
Daily audits of all five vaults are conducted by BullionVault and made available to the public. You can check the amount of BullionVault gold, silver, and platinum stored in each vault by visiting the website and filtering the results by KG.
To protect the identity of the account holders from public view, each account identification is listed and encoded.
Three vault providers store and maintain the precious metals of BullionVault customers:
Loomis International: This is a Swiss corporation that largely receives trust from banks and has operations in America, Europe, and Asia.
Malca-Amit: Originally Tel-Aviv, now, it’s a Hong Kong-based freight and storage company.
Brinks: It’s a security service provider for government and financial institutions, based in Richmond, Virginia.
As transportation and storage authorities, all three businesses are a part of the London Bullion Market Association (LBMA). The management of BullionVault is in charge of the company’s five international locations (which were mentioned above).
To register for a BullionVault account, follow these steps:
Visit BullionVault.com and then:
Either select “Open Account” from the menu in the top right;
Or do the same thing by downloading the mobile app.
Please enter the following information asked by BullionVault:
Name and surname
Specify how you discovered BullionVault
Thereafter, accept the terms and conditions of the business.
Select Open Account
You can deposit and trade gold, silver, or platinum right away after opening an account and confirming it via email – even before your account verification.
Go to BullionVault.com > Account > Validation to verify your account. By choosing Upload Documents from the hamburger menu in the mobile app, users can also verify their accounts.
Follow the instructions provided and prepare the required documents, which are:
Proof of identity: Passport, national ID card, driver’s license, or any government-issued document that proves your identity with a photograph, date of birth, and signature.
Proof of bank account: A bank statement corresponding to the account used to fund your BullionVault account.
Proof of address: If your address isn’t listed on your bank statement, a utility bill may work as proof of residence.
Working hours and transaction processing times at BullionVault banks in the UK are synchronized with GMT.
US customers: Regarding a $10 transaction fee, US customers with US bank accounts are paid by ACH. If ACH is not accessible for any reason, a $30 SWIFT payment is issued instead.
UK customers: CHAPS is used to pay UK customers with UK bank accounts for withdrawals of £20,000 or more for a fee of £20. Withdrawals under £20,000 are done over BACS at no cost.
European customers: Customers in Europe and Switzerland can use SEPA for payment for a fee of €10, with the possibility of an extra fee from their local bank.
All other customers not included in the above three categories must pay a fee of up to $30 that is paid via SWIFT.
The main menu’s Buy/Sell bullion tab directs you to a page where you can view current market prices for all five locations and four currencies supported by BullionVault and make bids. Based on the currency, country, weight units, and minimum order amount, you can filter which markets are shown.
It only takes a few minutes to simply open an account online at BullionVault. Your details must be provided during the registration process, and the account must then be funded (either by bank transfer or card payment).
Private investors may need to provide extra details or documentation for money laundering purposes.
Deals to buy physical gold can be carried out using BullionVault’s online trading screen once the money has been deposited into the investor’s account.
After their first registration, all customers must confirm their accounts within two weeks. Although it can also be completed online and just takes a few minutes, this is a legal requirement.
Customers can also make offers and bids on the trading system, giving them the opportunity to trade “the correct side of the spread,” a nearly unheard-of opportunity in the silver market. With just one mouse click, it is actually possible to buy and sell gold.
Every day of the year, 24 hours a day, an investor has access to their account and can buy and sell gold through BullionVault. This makes it a fantastic option for both buy-and-hold investors and active gold investors.
Using its apps, you can view live prices, set price alerts, and trade gold, silver, platinum, and palladium 24/7.
When you request a funds withdrawal through a logged-in session on the BullionVault website, BullionVault will always show you the most recent information about your linked bank account.
If you accept the provided banking information, and it turns out to be inaccurate, BullionVault will not be liable for any losses.
An investment in bullion bars is made when buying gold through BullionVault. These bars, which start at one gram, are made of investment-grade gold and come in a variety of thicknesses. There is no maximum purchase limit.
Daily audits of its accounts match its actual holdings to lists of customer assets. Only account holders are aware of their nicknames, which are given through a nickname system. When a shareholder looks at the independently posted audit, they can “see” their gold.
You can decide whether BullionVault is a reliable service and business or not. Here is a list of some points to think about in relation to the company:
Transparency is not a problem because the website contains hundreds of useful informational points about the company and its activities.
The finances of BullionVault are sound, and the World Gold Council is a strong investor in BullionVault.
Although it was formally introduced in 2005 and is a subsidiary of Garmarley LTD. (registered in England & Wales). In 2003, Garmarley LTD. received $275,000 as seed money, and two years later, it received more than £3 million in equity finance.
According to a 2019 audit, the business has over 90,000 active clients from 175+ countries and an estimated $3 billion in bullion held in trust.
Any service provider you give your money to runs the risk of losing it. To protect the cash of its clients, BullionVault has placed several security measures, such as:
Burglar alarm: When preset account limits are exceeded or suspicious behavior is discovered, clients are notified via a burglar alarm.
Pooled accounts: Under BullionVault Clients LTD., client funds are kept in distinct client accounts.
Insurance: It consists of “All Risks Liability Insurance” up to $2 billion ($2.5 billion for a single loss in the Zurich vault), as well as the 0.12% yearly gold custody charge and 0.48% annual silver or platinum custody charge.
The company BullionVault is registered in England and Wales under the company number 07400400. The business is governed by English property law and collaborates with licensed vault and storage companies from the London Bullion Market Association (LBMA).
Furthermore, the business is also insured for nearly $2 billion through March 31, 2025. Traders and potential customers are to decide on the company’s legitimacy for themselves.
To trade precious metals with BullionVault, such as physical gold, silver, and platinum, you must first create an account on the website, BullionVault.com, or on its mobile phone app.
Then, you have the option of depositing using a UK debit/credit card, as well as domestic and international wire transfers in GBP, USD, EUR, or JPY. You can sell and buy gold bars or coins when your deposit has been processed.
Depending on the associations each dealer belongs to, the purity of gold bullion varies. Gold from BullionVault has a purity of 99.76% and is certified as a London Good Delivery Bar. Bullion dealers often describe the purity of gold bullion in their product descriptions as “fineness.”
Furthermore, physical gold that is owned by an individual investor and professionally kept in high-security vaults is referred to as vaulted gold.
The three active directors of BullionVault LTD (07400400) are CEO Paul Gerard Tustain, Robert Paul Glynne, and Justina Prytula, according to Companies House UK.
In addition to the aforementioned, as well as Timothy Charles Levene and Gregory Kilborn Lockwood, Garmarley LTD. has five active directors. On November 1st, 2015, Garmarley LTD formally submitted its resignation as a director of BullionVault LTD.
If you want to buy gold, silver, and platinum, BullionVault (the world’s largest physical gold and silver market) is a reliable, secure, and open system.
The majority of consumers buy for the wrong reasons, such as the mistaken idea that certain metals always perform well during recessions, depressive periods, and inflation.
Furthermore, the only rational reason for buying physical gold is to diversify your portfolio. At most, this should be given a weighting of 5%–10%.
With an easy-to-use system, low dealing and storage costs, and 24-hour access with high customer security, BullionVault is hard to beat for gold investors, both large and small.