BullionVault Review

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Are you looking for a safe and reliable company to help you buy, store, or sell your precious metals?

Settling on a company to provide you with these services in a market full of such firms can be difficult. But in this review, you’ll get more information on one company that provides these services. The company is BullionVault. 

Here you’ll learn more about the company, how it stores your gold, how effective its customer support is, its customer reviews, whether it’s legit or not, and more. 

Let's get started.

BullionVault Overview

BullionVault is a platform where you can buy or sell your gold, which can be in the form of bars, coins, or ingots. It was set up in 2003 to ease private individuals' difficulties while trying to purchase, store or sell their gold. What it did was make the processes simple, safe, and cost-effective. 

Currently, BullionVault boasts of being the largest online gold investment website with over 100,000 active customers. The company has $100 million worth of gold and silver traded monthly and $3.7 billion worth of client assets in its custody.

A little bit on BullionVault’s history, in 2005, the company raised cash through equity funding to purchase the precious metal products that were the basis of its inventory. 

Over the years, BullionVault has enjoyed consistent growth due to its convenience, safety, and price competitiveness.

Why Choose BullionVault?

BullionVault is one of the largest companies in the industry and has won multiple industry awards. The company is also a London Bullion Market Association member, an additional quality assurance. 

In the years it has been in operation, one of its targets has been to make purchasing, storing, and selling your precious metals as seamless as possible. This they have achieved.

How To Get Started With BullionVault

If you want to partner with BullionVault as you buy or sell your precious metals, getting started is quite simple and easy to follow.

Step 1:  Open An Account

Before you start, you can try buying and selling with a free sample.

Step 2: Transfer Funds

After setting up your BullionVault account, you can transfer funds via bank transfer.

Step 3: Buy Gold, Silver, or Platinum

Having deposited funds into your account, you can now buy the precious metals products in your choice of vault through the live order board.

Step 4: Validate Your Account

Finally, you’ll upload your photo Id and bank statement to fully validate your account. 

How To Invest In Precious Metals IRA with BullionVault

If you have a Self-Directed IRA, you can invest in precious metals with BullionVault. Here is the process.

1. Find an IRA custodian capable of handling precious metals in an IRA. Despite many companies providing this service, you’d be better off partnering with a firm specializing in such accounts.

2. Once your account with the IRA custodian is fully set up, you must add funds. How do you do this?

You can transfer funds to the account through the rollover process, bank transfer, or make annual contributions.

3. Give clear directions to your custodian. Inform your custodian that you need the funds in your accounts to buy precious metals from BullionVault. 

In this step, you’ll fill out a Buy Direction or a Purchase Authorization letter. Your IRA provider will then transfer funds to your BullionVault account.

4. Your IRA custodian will send you the login details to BullionVault, which you’ll use to log into their website and choose the precious metals allocation best suited for your investment goals. 

BullionVault’s Gold Storage

Now that you’ve decided to buy and store your gold with BullionVault, where will your gold be stored? Will your gold be secure enough?

The company uses special storage facilities to serve its clients. It has partnerships with three vault operators who double up as security transportation firms. The three companies are Malca-Amit, Loomis International, and Brinks.

On Storage location, you can choose to have your gold in any of the five locations BullionVault provides. These are London, Zurich, Toronto, Singapore, and New York.

If you need proof of your asset in the Vault, BullionVault can provide that. On each business day, the firm publishes custody lists, which show all bars in their custody with alias names published beside them.

To improve your security, you choose your alias name, which only you know of. This helps you remain anonymous from everyone else. You can get this information in the Daily Audit section of the firm’s website.

BullionVault Rates And Costs

If you are wondering how much fees you’ll pay for various BullionVault services, here is a sneak peek of the expected rates and costs at the time of this article.

If you want to open an account, deposit funds, or get insurance, you won't need to pay anything. These services are absolutely free.

You will be charged between 0.05% to 0.50% commission for orders on board trades. This includes buying or selling silver, gold, platinum, or palladium.

Storing your gold with BullionVault attracts a 0.12% fee annually. But for other metals such as silver, platinum, or palladium, you will be charged a 0.48% annual fee. 

For the storage fees, minimums apply.  The monthly minimum amount you’d pay for storing your gold is $4, while for silver, gold, and platinum is $8. 

Is BullionVault legit?

Whether you perceive BullionVault as legit or a scam is a personal choice. However, here are some insights that would help you make a more informed decision concerning the same.

On its website, BullionVault provides a lot of helpful information about itself, including its operation, solidifying its transparency.

Currently, the firm has over 100,000 active clients distributed across 175 countries and an estimated $3.7 billion worth of clients’ assets in their custody. These show that a lot of investors trust the company.

It is also key to note that the company and its transport providers are all London Bullion Market Association members.

How Good Is Their Customer Support?

BullionVault has pretty decent customer support.

The company has a live chat option on its website. However, there are no specific time frames in which you can use it.

You also have a telephone to call and an email for correspondence. 

BullionVault also has social media handles: Twitter, Facebook, LinkedIn, and YouTube. All of these are active, so you can use either to contact the company.

On BullionVault’s website, the company provides many educational resources, such as investment guides which come in handy when you need direction as you invest. 

Customer Reviews

Over the years in which BullionVault has provided its services, it has served many clients, some of which have left them reviews.

Trustpilot, a third-party customer review platform, rates the company at 4.7/5 stars, a superb rating. One of the five-star reviews here appreciated the quality of the customer relations, terming it as very, very good.