BullionVault Review – Is Bullion Vault Legit Or A Scam?

In this BullionVault review, we will be taking a look at the companies website and discuss why you should be buying precious metals from BullionVault. We will also be looking in depth at some of the features they offer in the back office, how to register for a free account, take a look at the live order board, price alerts and how to place a trade using the wizard.

Visit: BullionVault.com

One important thing to mention before I start is that I am a Karatbars VIP business partner and I am currently buying my gold bullion in small quantities and on a regular basis from them because I get free storage in Germany, whereas BullionVault charges for storage (albeit at very reasonable rates).

So why do I use BullionVault? Well, I have control of my UK pension and I am able to invest that with BullionVault under the special circumstances that they provide for UK pensions schemes and the tax office. Because the way BullionVault is audited and the fact that it uses storage providers such as Loomis, pensions regulators deem this to be a proper and safe investment scheme.

The home page is full of information and it is well worth taking the time to read through it.

One of the first things that you will notice is the live prices for gold being stored in the five separate locations where BullionVault operates its vaults. Namely, these are Zürich in Switzerland, London in the UK, New York in the US (although for some reason you are unable to deal in silver), Toronto in Canada and Singapore. Prices are given in dollars, euros, sterling etc, and weights are given in troy ounces and kilograms.

BullionVault is the world’s biggest online bullion markets and they are regulated by the LBMA (London bullion market Association). It’s important to note that they only deal in allocated gold and silver and not in un-allocated bullion.

This is very important when you are buying physical gold and silver as it proves legal title over the metal if the company goes into receivership. You own the gold directly and BullionVault only takes a commission for the buying and selling of gold stored in their independent vaults.

BullionVault only rents this vault space from vault providers such as Loomis. It is thought that there are around seven vaults within London area storing around 6000 tonnes of gold bullion. They also only deal in investment grade gold and you can buy and sell 24 hours a day seven days a week.

Is very important to do your due diligence and if you look on the home page there is a section that helps you do this just to make sure that you are taking the right precautions before investing your money. There are also sections on tax and pensions at the bottom of the page.

To open a free, no obligation account with BullionVault just visit: http://solidgoldopportunity.com/bullionvault and fill out your name and password and choose a username. This username will become a nickname within BullionVault so you can view your ownership of gold within the daily audit section without revealing your true identity. This is an additional layer security to prove ownership of your metal and it can be cone on their site without the need to login.

Once you’ve received your email confirmation that you have registered you simply have to visit the login page putting your username and password and login to the back office of your account.
On the first page you will see is the account balance page and it shows you how much bullion you have in gold and silver and how much cash you have if you look at the first tab, the account tab, you will see that contains sections on depositing funds, withdraw funds, withdraw 100 g gold bars, reserve bars, validation, documents and settings.

Once you have provided validation and proof of identification such as driver’s license and a bill for proof of address, you can link a bank account with your BullionVault account and start to deposit funds. This is quick and easy to do and  these days I use my BullionVault account like a bank account and when I wish to withdraw funds, I just sell some of my holdings and transfer the currency back into my bank account. This is very quick and easy to do.

You will see that you are also able to withdraw 100 g gold bars. It’s important to know that gold bought through BullionVault attracts no capital gains tax or VAT. However, silver in the UK attracts both capital gains and VAT (but only VAT if you withdraw it from a vault and take delivery). This is one of the major benefits of being able to invest your pension in gold with BullionVault.

Next is the history tab and here you can see all your orders and statements.

Now lets take a look at the ‘buy’ and ‘sell’ tab. Here you can see the live order board displaying the current trades with their ‘ask’ and ‘offer’ prices. A great way to buy and sell your bullion is to use the  wizard on the same page. The system automatically does the calculations with price and quantity within the market, to give you the best and fastest price.

The analysis tab is a great resource for gold news and advice on the market. The last tab as the chart tab. Here you can view the charts of gold and silver over a 20 year period in several currencies. If you run a website or blog you’re able to embed these charts directly onto your site.

There is also a link for price alerts. You can set price alerts to inform you of when a particular price is reached so you can buy and sell.

This brings us to the BullionVault app, which is available for smartphones and enables you by bullion anywhere in the world over your phone and is an excellent feature if you wish to take advantage of a certain price. It means you will never miss an opportunity.
BullionVault also allows you to invest on a regular basis by depositing funds automatically each month and they will then buy the bullion of your choice at the best price on a particular day. This is very similar to Karatbars and it is what I use when buying my 1 g and 5 g bars from them.

BullionVault has a comprehensive ‘help’ section on every aspect of the company and how it does business. Fees and storage charges are also listed here and are very reasonably. If you own bullion of up to $100,000 it is only $10 a month to store. Dealing fees are also low at 0.5% on the first $75,000 reducing beyond that.

However, for smaller quantities there is a minimum charge for storage and insurance called custody charges and they are $4 dollars gold and $8 dollars silver and is you are investing regularly these may start eating to your cash reserves.

The low fees almost enable you to trade the physical stuff on a daily basis if you wish to do so, similar to stock market to ETF’s. However, I am particularly uncomfortable with this type of “paper gold” and the way it is traded without being fully backed by the metal. This is because of the current state of the world economy with central banks endlessly printing money and imposing negative interest rates etc on us all..

I personally always recommend to anybody to own physical bullion as part of their portfolio. The great Jim Rickards recommends between 5% and 10% of your investable assets go into gold.

One security feature that I have realized BullionVault has, which is not readily given out on the site is the fact that if your BullionVault account gets hacked, they can only move the money back to your linked bank account.

Seeing it is very unlikely that a would be hacker would have access to both your bank account and your BullionVault account it means, in my opinion, it is safer to have your money in BullionVault, especially if your bank goes bust!

In summary, I can recommend BullionVault wholeheartedly and as much as I do Karatbars international. It just depends how you want to save and have access to your money over the long term.

If you would like to register for a free account at BullionVault please visit: http://solidgoldopportunity.com/bullionvault

If you like to contact me, please email: mark@solidgoldopportunity.com