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Introduction
FideliTrade is a prominent precious metals dealer and custodian that specializes in the buying, selling, and secure storage of gold, silver, platinum, and palladium. With a strong reputation for reliability and expertise, FideliTrade offers a wide range of services to investors and collectors in the precious metals market.
Are you interested in precious metal investment especially as part of your retirement planning? Chances are you may get overwhelmed with the tons of information available out there.
Worry not, though. This review will look into one of the precious metals service firms, FideliTrade. Popularly mentioned as a go-to mint distributor, this gold IRA company is certainly worthy of a review.
In the next few paragraphs, we discuss everything there is to know about this company. From its background to its products, services, pros, and cons.
Let's get started.
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FideliTrade Overview
FideliTrade began operating in 1998 due to Wilmington Trust (one of America’s largest providers of investment management services) breaking off its precious metals division.
The founder of FideliTrade Jonathan Potts was the vice president of Wilmington Trust and was in charge of the precious metals division. In 1997, Wilmington Trust announced that its precious metals division would cease operations meaning that everyone in that division would lose their job.
Jonathan Potts decided to buy out this division, so he tabled this proposal to the bank instead of waiting for the bank to reassign him. This proposal was absurd for most individuals, but it made perfect sense to Jonathan.
Fortunately, the bank accepted the offer, and Jonathan took over the bank's existing customers and employees in the precious metals division. At this point, FildeliTrade was formed.
The firm has expanded immensely, having more than 50 full-time employees and a total office space of 72,000 square feet.
It has several subsidiaries, one of them being the Delaware Depository. This depository facility is among the largest countrywide and holds bullion for commodity exchanges, financial institutions, IRA custodians, and individuals.
Additionally, FideliTrade is currently authorized to purchase from the US Mint, making it among the 12 companies with this ability worldwide.
The firm’s transparent and cost-effective approach to precious metals investment has caused it to attract many experienced money managers.
FideliTrade Products And Services
FideliTrade allows you to buy or sell your precious metal products. The precious metals they deal with include the following:
Gold: Some Gold IRS-approved products from FideliTrade are American Eagle, Gold Buffalo, the Canadian Maple Leaf and the Austrian Philharmonic.
Silver: Some Silver products from FideliTrade are Silver Bullion Bar (ISO accredited), Silver Bulk Generic Bullion, Silver American Eagle Coin, and Silver Bullion Round.
Platinum: Some platinum products from FideliTrade are Platinum Bulk Generic Bullion, American Eagle, Austrian Philharmonic, the Canadian Maple Leaf, and Platinum Bullion Bars.
Palladium: Some Palladium products from FideliTrade are Palladium Bulk Generic Bullion, Palladium Canadian Maple Leaf and Palladium Bullion Bars.
FideliTrade emphasizes that all these products are sourced directly from top-tier mints.
Under each item listed on their website, a bid and ask price has been mentioned. However, it is advisable call the firm to confirm a product’s availability.
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Precious Metals Storage
FideliTrade uses a storage depository located in Wilmington, Delaware. But, they also have international storage options for individuals who prefer storage locations outside the US. These worldwide custody services include locations in Zurich and Toronto.
The firm provides segregated and non-segregated options for storing your precious metals.
If you opt for the segregated storage option, your precious metals products are kept in a separate facility, isolated from other clients’ products. Your bars are individually packaged and sealed in a container. They are also labeled separately.
On the other hand, when you go for non-segregated storage, your precious metals products are kept together with those of other customers.
FideliTrade can also work for you directly as a dealer in case you want to start a precious metals IRA. They’ve partnered with several IRA custodians, so they can assist you in picking different precious metals to add to your IRA.
Fees and Pricing
FideliTrade clearly states the prices of its products on its website. These prices are regularly updated depending on multiple factors. However, it is only through FideliTrade’s credit that you can get the most accurate prices of products without having to call.
The firm has a cap on ACH and credit card purchases. They have displayed these limits on their website, which are $3,000 for credit cards and $30,000 for ACH. Generally, investors consider these caps to be low.
The minimum purchase you can make from FideliTrade is as low as $100. This enables people to build a solid precious metals portfolio over an extended period.
Who Do They Work With?
FideliTrade offers bullion services to previous customers of several precious metals operations, such as the Wilmington Trust Company.
They source their bullion products from various commercial mints and the government. Additionally, the firm has an exchange-approved depository, so its clients can have peace of mind.
They have zero debt and a lot of capital. So as a client, you can rest assured that they won't disappear and will always fulfill their duties towards you. They’ve also insured all their client’s assets at $1 billion, so you won't have to worry about your items’ safety.
Individuals
One of the perks of opening an account with FideliTrade is that you get any help you need concerning precious metals from an expert. The firm avoids using sales middlemen on a commission basis.
You also get highly competitive prices from the company, accompanied by a solid reputation and decades’ worth of customer satisfaction.
You can use your FideliTrade account for non-IRA and IRA transactions. You can also have your bullion held in several locations. For example, in the USA, FideliTrade will hold your bullion at California and Delaware locations and globally, the firm will hold your bullion in Toronto or Zurich.
Advisors
If you are in the capacity of an advisor to various precious metals clients, you can also work with FideliTrade. The firm offers precious metals trading and support services to advisors and investment managers through its Delaware-located clearing service.
With this clearing service, your clients can buy several precious metals products. They can have the products stored securely and safely in custody or take delivery of the precious metals products.
As an advisor, you can directly work with the client to optimize an investment plan and strategy and align them with their financial goals while receiving tailored guidance and the best market prices for precious metals investment.
FideliTrade can take care of the operational framework as you, the advisor, expand your service offering to clients by giving them direct access to the precious metals market.
Banks and Brokers
FideliTrade has an institutional clientele that includes investment funds, brokerage firms and banks. These work side-by-side with exchanges, dealers and wholesalers.
If you have a commercial account, you can trade different products easily. You can do this over the phone or online.
The firm offers specialized precious metals administration and clearing services to commercial entities worldwide. It has a detailed menu of various trading, custody, support and delivery services. This assists commercial entities and brokerage firms in adding service offerings and up scaling their investment product mix.
They can also increase their incomes by maximizing cross-selling opportunities and minimizing customer loss to competitors.
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Precious Metals Trading
Purchase – FideliTrade is an authorized mint distributor, so they sell precious metal products at competitive prices. If you purchase using a credit card, the maximum amount you can spend is $2,999, and fees apply. But if you use ACH, the cap is $29,999.
Liquidate – If you want to liquidate, FideliTrade can assist you with that. They will buy back your precious metals. This includes bullion that you didn’t buy from them initially.
Accumulation Plan – This plan is only available to individuals who purchase the generic bulk bullion the firm sells. The accumulation plan can be a monthly or twice-a-month automated purchase in the firm’s generic bullion.
This program enables you to eliminate the day-to-day worry of market monitoring and efficiently leverage the strategy of dollar cost averaging.
Additionally, you can purchase your precious metals on the 1st or 6th day of each month. Joining this does not attract any fees. You’ll only pay $99 worth of the metal type.
Counterfeit detection – FideliTrade works in conjunction with its depository to ensure that every metal entering the facility is thoroughly tested and screened for authenticity.
The firm has heavily invested in counterfeit detection personnel, tech and equipment to ensure all products are fully authentic.
Customer Reviews
According to the Better Business Bureau (BBB), FideliTrade has a 5-star rating, which is excellent. This rating is based on only two customer reviews. Additionally, the firm has not dealt with any complaints, according to the platform.
According to Glassdoor, the firm has a 4.4-star rating which is also impressive. However, these ratings are based on three employee votes, which may be subject to bias.
How Good Is Their Customer Support
The firm has a physical address which you can visit to have any issues sorted. They also provide an email address, telephone number and fax which you can use to contact the firm.
On their website, there is an online form you can fill in to send a comment or message to the firm. This form is straightforward; you can fill it in just a few minutes.
They also provide several informational resources. These include the market's latest news publications, articles and commentaries.
The firm also has social media handles on LinkedIn and Twitter, which are active. You can use any of these to get assistance.
FAQs
Precious metals are measured in purity ratings, calculated in parts per thousand. Alternatively, you can refer to it as the fineness.
Generally, purity measures the portion of the precious metals within the refined product. For example, bullion with 999.9 fineness is 99.99% pure gold.
Since 1986, you can place precious metals in a Self-Directed IRA. Over time, the range of acceptable products has increased; thus, a wider variety of precious metals is allowed.
FideliTrade makes sure you only get IRA-acceptable products, such as any Gold, platinum, silver or palladium products.
FideliTrade is legitimate.
The company has been in business for 25 years, and during this period, it has provided products and services as expected.
Additionally, it has received customer reviews on third platy review platforms such as BBB, showing that it has actually transacted business. Though few, all these reviews are positive, showing no trace of illegitimacy.
Pros And Cons
Some of the benefits you get by partnering with FideliTrade include the following:
Pros
Cons
Conclusion
FideliTrade is a legitimate full-service precious metals company and authorized mint distributor. It has been in business for more than two decades, and over this period, it has provided bullion to customers straight from the source.
The firm has a physical address in Wilmington and offers convenient online trading. It's staffed with personnel full of experience in the precious metals industry so that they provide outstanding service.
They offer various storage options for your precious metals, are transparent in their dealings and work with several stakeholders to assist in securing retirements.
Despite having just a few customer reviews, no one has said anything negative about the firm. So, if you are looking for a trustworthy and honest precious metals firm to partner with in your investment, consider FideliTrade.
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