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Bullionvault Review: Pros, Cons, Is It Right For You?

Bullionvault is a precious metals dealer that offers a trading platform. Individuals can use the platform to buy and sell metals like gold, silver, platinum bullion, and palladium.

Many people are seeking ways to diversify their investment portfolios. Finding a trustworthy and affordable dealer in the professional gold bullion market can be challenging.

If you have read our other dealer reviews, you know how we value facts. We do not want our readers to buy gold from any unallocated gold company that is not reputable.

Is Bullionvault a reputable company? Is it safe? Where will your metals be stored?

Get the answers to all these questions and more by reading below.

An Overview of Bullionvault

Bullionvault has been around since 2005 and is based in the United Kingdom. The company is one of the largest precious metals dealers in the world, and it has storage facilities in six countries through the London Bullion Market Association.

Before we delve further into the services of Bullionvault and all its details, you need to understand what vaulted gold means. Vaulted gold is physical gold purchased by an investor and stored in high-security vaults.

The following are the company's top vaults for holding gold:

  1. Switzerland
  2. Zurich
  3. New York
  4. London
  5. Toronto
  6. Singapore

As you can see, Bullionvault has locations worldwide that allow investors to store their physical bullion safely. Is your bullion going to be safe with this company?

Continue reading to learn what Bullionvault offers.

Who Owns Bullionvault?

BullionVault is owned by Galmarley Limited, a company registered in England. There are no company owner names available. We will continue looking for further information.

Ratings, Reviews, and Complaints

You must do your homework when searching for information on any gold delivery company. Failure to research the company could lead to losing all the gold in your portfolio.

Overall, most customers are very pleased with the services. There were a few negative reviews, but this is to be expected with any company.

The company has responded to every negative review left by unsatisfied customers. Overall, we did not see any red flags that caused us to pause our research.

Consumer Rating Sites

Reading customer reviews is critical for ensuring a company can deliver what it promises. When we started researching Bullionvault, we first stopped at the BBB.

If a company has a poor reputation with the Better Business Bureau, you should stay away!

Better Business Bureau

Based on only one customer review, the company had a B- rating on the BBB website and one star out of five. There have been no complaints in the last 12 months, but there has been one in the previous three years.

The complaint and review both revolved around BullionVault's stringent security guidelines. The company's response to the complaint seemed reasonable.

Most recently, the company's status on BBB is not accredited.

Google Reviews

We could not find a business profile for Bullionvault.

Business Consumer Alliance

We could not find a business profile for Bullionvault.

Trustpilot

We also visited Trustpilot to learn about the company's reputation. The company has 2,500+ customer reviews and a 4.7 out of 5-star rating.

Around 83% of the reviews were 5-star, which is very telling for the company.

Pros & Cons

Every company has its pros and cons, including Bullionvault. If you want a company to purchase physical gold from, you need to know the good and bad.

The following are some of the top pros and cons you can expect from this international trade company:

Pros

Cons

Is Bullionvault Safe?

Before we answer this question, you need to know that giving your account information for wire transfers to any online company can be a risk.

Bullionvault has put many safety measures in place to protect its customers. It seems they have taken all the proper steps to keep customers safe.

The company includes All Risks Liability Insurance up to $2 billion. You should never store your metals with any company that does not offer insurance.

This alarm sends instant notifications to customers when their accounts reach certain account limits or unusual activity is witnessed.

These notifications can save your account from hackers attempting to access your allocated gold or payment information.

All client funds are held in separate accounts with BullionVault Clients Ltd, an England and Wales-certified company. This separation protects you from theft.

What Services Does Bullionvault Offer?

Some people mistakenly think Bullionvault is just a dealer of physical gold, but they offer other services. On the Bullionvault platform, you can either buy, sell, or trade the following precious metals:

1. Gold 2. Silver 3. Platinum 4. Palladium

The purchasable metals come in bars and are available at all five of their storefronts located throughout the world. The platform also allows users to purchase gold, silver, platinum, and palladium coins.

When you visit the Bullionvault Gold website, you can filter your choices, making searching much easier. You can filter by location, weight, and the minimum order size, according to your needs.

You can buy and sell precious metals in four currencies. The company may eventually expand the options, but the following are available now:

  1. United States Dollar
  2. Euros
  3. Japanese Yen
  4. British Pounds

You have the option of purchasing with the above from any location. It does not matter your storage location. Private investors can buy, sell, or trade any time of the day or night and even on the go with the mobile app.

What Can You Buy?

You have the option of purchasing gold and silver bars and coins. Many people use Bullionvault because they feel safe buying gold and silver on this platform.

You can even set up your account to purchase gold automatically if you prefer. We will talk more about that later.

It is important to understand the differences between bullion coins and numismatic coins. Numismatic coins are priced according to their rarity and history. These are considered collector's items.

Bullion coins are priced based on the percentage of precious metals they contain. The following are some of the coins listed on Bullionvault:

  1. Kangaroo Gold Coins
  2. Philharmonic Gold Coins
  3. Britannia Gold Coins
  4. British Sovereign Gold Coins
  5. Maple Gold Coins
  6. Krugerrand Gold Coins
  7. Eagle Gold Coins

How to Sign Up and Begin Trading

Getting signed up with Bullionvault is relatively simple. Once you have an account, you can begin trading gold, silver, platinum, and palladium.

The following steps will help you open an account with Bullionvault to get started:

1. You can start by visiting the website and looking in the upper right menu for “Open Account.” You can also download the free app and open an account upon download.

2. You must input your name, email address, chosen username, and password. Bullionvault will also ask how you heard about their services.

3. Next, you will read and agree to their Terms and Conditions documents.

4. Finally, you will click on “Open Account.”

Once your account is open on Bullionvault, you can begin buying, selling, and trading immediately. You will receive an email that asks you to confirm your account.

You can get started without going through the account verification process, but you should complete it as soon as possible.

Do You Need a Bank Account?

You do need a linked bank account for Bullionvault. Your linked account will remain linked until you decide to close the account. After you send the company money the first time, they will only ever accept funds from the same account.

In case you ever decide to change banks, you need to keep this information in mind. Use an account you know you will keep throughout the duration of your Bullionvault account.

One of the primary complaints people have about the service is account verification. Changing bank accounts may be very challenging to prove your identity and update the information.

How Can You Verify Your Account?

With all this talk about verification, you need to understand how to go through the process. Follow the instructions below to get started:

1. You will need to provide proof of your identity. There are a few accepted ways to accomplish this. Bullionvault will accept your driver's license, passport, national ID cards, and any government document that shows your photo, date of birth, and signature.

2. You will also need to prove your bank account information by submitting a copy of your bank statement that proves the account information of the bank account you used to open your account.

3. If your address is not shown on the bank account documents, you must provide another document showing this information. Many people submit an electric bill.

If you own a business or trust, you must also provide proof-of-legal entity. You can track the progress of validation online.

Once your account is validated, you will receive an email confirmation.

How Does Bullionvault Store Gold?

Bullionvault works with three of the best depositories in the world to ensure its private investors do not have to worry about storing gold. They offer allocated gold storage options.

Loomis is a swiss company that operates in many areas of the world, including the United States, Asia, and Europe. You can feel safe when you store gold with Loomis International.

Brinks is also a well-known gold storage company that is respected in the gold industry. Brinks is headquartered in Richmond, Virginia. You will not have to worry about storing your physical gold with Brinks.

This company was originally headquartered in Tel Aviv. Today, the company has its base in Hong Kong. Malca-Amit protects you when you buy metals, so you don't have to worry about your investment.

 

Each of these gold storage companies is a part of the LBMA. The management team has the authority to move precious metals from each of their five locations and transport them.

Because they are a dealer and storage provider of gold, silver, platinum, and palladium, private investors will incur fees for this service. Not only will you buy from the dealer, but you will also use Bullionvault for storing gold.

The following are some of the fees you will incur when buying gold and storing it with Bullionvault. Being prepared for these fees will prevent unwanted surprises when you join.

  • You will pay $4 a month to store gold.
  • You will pay 0.48% per year on silver, billed monthly, at a monthly minimum of $8.
  • You will pay 0.20 Euro cents for each SMS alarm.
  • You will pay a 0.5% fee when buying gold or silver.
  • If you buy over $75,000, the fee drops to 0.05%.
  • The minimum purchase amount for Bullionvault is one gram.
  • It is free to transfer funds to Bullionvault.
  • If you wire transfer from Bullionvault to your bank, the cost is $10.
  • You can register for a Bullionvault account for free.
  • You can view live charts for free.
  • Funding your account is free.
  • Closing your Bullionvault account is free.
 

Review of the Bullionvault Website

The desktop platform has many features that make buying gold and selling or trading easier than most people realize.

There are many new features. The following are some things you need to know about the website:

Accessibility

This online platform is accessible to everyone, but there are a lot of tabs and information to view. Some new users may find the website a bit overwhelming.

One of the first things you will see is the live price charts telling visitors about the changing spot prices of precious metals. These charts are helpful for investors.

We feel the site could be better organized, but there have not been massive complaints on this issue. When perusing the website, the entire process took more time than it should have because of the many tabs.

Information

There are a lot of educational materials on the website, including information on investing in gold, silver, platinum, and palladium. You will also see the daily London price. You can find the educational materials under the Investment Guide tab.

You will also discover a tab to find the latest news on investing in gold and silver. Other customers have stated this information is beneficial in helping them make the right decisions for their investment needs.

Tools

There are multiple tools available on the website. You will find a cost calculator, market maker, daily London price ticker, and a daily live list that helps you find the cheapest gold. You can also set up an automatic gold investment plan.

Overall, the Bullionvault website has a simple design packed with ample information. The tabs are easy to navigate, but there is a lot of information to go through when you want to buy silver or other precious metals.

The intent is clear for this platform. They want you to be able to purchase metals safely.

Review of the Bullionvault Mobile App

Many people these days prefer using their cell phones to trade gold. Thankfully, Bullionvault offers a free app allowing anyone access to wholesale prices. This app lets you learn how much gold is being traded or sold.

Accessibility

The mobile app is not the most advanced we have seen in the gold market industry. Silver Bullionvault needs to update its app to make it sleeker and easier to access.

That being said, the app does the job and gives you access to buy gold at a reasonable price. You can even carry out your bank transfer from the app.

Information

You will find less information on the app than on the desktop version. If you read reviews about the app, you will find other customers do not mind the lack of information because they primarily use the app for quick moves to buy gold bars and transfer them to storage.

Features

There are limited menu features on the app. You will find the following:

  • Price charts for gold, silver, and platinum (Find the silver price and gold price.)
  • Markets for gold, silver, and platinum (Determine the spot price for buying gold.)
  • Trading gold, silver, and platinum
  • Order management
  • Balance
  • Deposit and withdrawal from the bullion vault
  • Account validation
  • Company information

Customization Options

The Bullion Vault app does offer you some options for customizing the settings. Just tap the settings icon in the upper right corner to access the settings.

From there, you can take care of the following customizations:

  • Language
  • Weight units
  • Biometrics
  • Market settings
  • Countries
  • Currencies

We recommend you play around with the customization options to get the mobile app to work better for you before you trade gold. Overall, the app is easy to use but lacks features and seamless operation.  Bullion Vault is listed as one of the top 3 apps for investing in gold.

How to Sell Gold on Bullionvault

If you decide you want to sell gold, it is quite simple. Follow these steps to sell gold for your desired cash, including the Japanese yen:

1. Click the Balance sub-menu option after logging into your Bullionvault account.

2. View your available precious metal options, and click on the Sell at Best Price drop-down list.

3. The order panel will load, and you can adjust your price or quantity.

4. Once happy with your order, press the Sell/Offer button.

5. Click Confirm.

What is the Automatic Gold Investment Plan?

If you like to make things easier, you may be interested in the automatic gold investment plan. This plan allows you to invest in gold monthly at the London price several times daily. You must ensure your account is funded, and Bullion Vault does the rest. This lets you buy gold hands-free.

Some people like this feature because it allows them to buy gold without stress. You can stop the automatic gold investment plan at any time you choose from your Bullionvault account. Once you turn off this feature, you will return to a hands-on approach to purchasing gold for your monthly minimum.

Is a Safe Deposit Box Better?

You have three main options for storing your gold:

1. Vault storage

2. Store at home

3. Safety deposit box

If you choose a safety deposit box, your precious metal will be stored inside a bank vault without any vault operators. Although this is a safer option than storing at home, you will not get the level of safety for your gold and silver storage as offered by a truly secured storage vault.

Should You Invest in ETF or Bullionvault?

Many people are becoming interested in investing in ETFs. An ETF is an exchange-traded fund. This is a type of pooled investment option. You will never own physical gold with an ETF, which may seem frightening.

If you prefer to buy bullion, you should stick with a company like Bullionvault. Buying physical bullion gives you something to hold onto for the future. Remember that with the automatic gold investment plan, you can purchase gold automatically without even thinking about it during the day.

If you truly want to diversify your investment portfolio, we recommend investing in both ETFs and physical gold. Dealers like Bullionvault make it easier to seek gold delivery services.

Why Should You Invest in Gold Bullion?

If you are still on the fence about investing in gold, allow us to help you understand the benefits. Once you understand the benefits, you will want to start investing in gold, silver, and platinum right away, even if you decide to go with another dealer of gold bars.

  • Gold is one of the best investments during economic and geopolitical uncertainty. Gold retains its value, even when Fiat currencies fall.
  • Gold is finite because it takes many years to discover and is rare. A reduction in the supply drives up the price of gold, making it extremely valuable.
  • The demand for gold is rising exponentially. With increased gold demand comes increased value.
  • Investing in gold protects against inflation. With inflation seeming to give us no relief, now is an excellent time to invest in gold.
  • There are also tax advantages to investing in gold if you invest in a gold IRA.

What Should You Know About the London Bullion Market Association?

The London Bullion Market Association was established in 1987. This association represents the global market for bullion retail sales. In other words, this association is the global authority on precious metals.

This association sets the industry's standard, ensuring the highest level of trustworthiness and transparency. When checking out any business in the gold industry, always ensure they are certified by the LBMA.

FAQ About Bullionvault

We have worked diligently to ensure you have all of the information to guide you in deciding about Bullion Vault. Although this review offers extensive information, there are countless questions to be asked.

The following are some of the top questions people ask about Bullionvault and investing in gold bars and coins:

Bullion Vault is highly secure due to its advanced encryption technology. The company has put strict authorizations in place. Withdrawal restrictions ensure only the account holder can withdraw their gold bars. Vault operators also ensure your gold is protected at all times.

You can buy a BullionVault by selecting the vault you want to purchase from the Buy at Best Price drop-down menu. Doing this will fill in the order panel on the right so you can complete the gold purchase process. Before attempting to buy, make sure your wire transfers are complete.

Bullionvault is a legit company. You can call the Canada toll-free number to ask questions. Bullionvault has many positive reviews from customers.

Bullionvault is allocated. You will find it much less expensive to store Bullionvault gold allocated. Bullionvault saves you money over bank storage and is less of a hassle.

Now is an excellent time to buy gold. Gold, silver, and platinum act as hedges against inflation, making now a perfect time to buy gold bullion.

Our Final Verdict

We have spent a lot of time researching BullionVault to deliver a final verdict to our readers. Overall, we feel BullionVault is a good company, but we feel better options are available.

Although they offer gold IRA storage and have won the queen's award, we feel you should consider a better option for your investment needs.