BullionVault Review

Gold dealers hit me with hidden fees and empty promises for years until I discovered BullionVault. In this comprehensive review, I share what my research revealed about their security protocols, market access, and fee structure.

I’ve analyzed every aspect to determine if this platform truly delivers what precious metal investors need. I’ve put in the research so you don’t have to—check out my findings to decide if BullionVault deserves your investment dollars.

What is BullionVault?

BullionVault is an innovative online platform that enables global investors to buy, sell, and securely store gold and silver.

Operating under Galmarley Limited, registered in England and Wales, the company maintains its headquarters in London and welcomes visitor inquiries.

The platform’s journey began in 2003 with initial funding of £275,000 ($500,000). This investment supported infrastructure development, and by 2005, they secured £3.5m for acquiring gold bars and establishing operations.

BullionVault quickly gained prominence by simplifying gold investments while ensuring security and value. Their revenue streams include transaction fees and trading spreads.

Their excellence earned them Queen’s Awards for innovation and international service, plus membership in the prestigious London Bullion Market Association.

A significant milestone occurred in 2010 when the World Gold Council and Augmentum Fintech plc invested, validating their business model.

Expanding their offerings, they partnered with the World Platinum Investment Council in 2017 to include platinum trading.

The platform now serves over 100,000 customers across 175 countries, managing approximately $4.1 billion in assets, surpassing many central banks’ holdings.

Their commitment to transparency includes publishing financial information openly. Their robust financial performance shows consistent asset growth, establishing them as an industry leader.

Team Behind the Company

BullionVault’s leadership combines technological innovation, financial expertise, and online business acumen to deliver user-friendly bullion trading solutions. Meet the key figures driving BullionVault’s success as the premier online investment bullion service.

Chairman: Paul Tustain

Paul Tustain brings his Computer Science expertise to BullionVault’s foundation. After successfully growing his financial software company SAM, personal challenges in gold purchasing inspired him to create a solution.

Launching BullionVault in 2005, he transformed it into the leading online gold investment platform. His entrepreneurial spirit led to WhiskyInvestDirect, another platform democratizing wholesale markets.

Currently, Paul guides strategic initiatives for both companies while focusing on parent company Galmarley’s operations.

Chief Executive: Robert Glynne

Robert Glynne’s extensive background spans e-commerce and financial services, perfectly positioning him to lead BullionVault.

His career progression from filing clerk to e-commerce leadership at Charles Schwab, followed by contributions to Betfair’s pre-IPO growth, demonstrates his operational expertise.

Joining BullionVault in 2011, he initially managed operations and product development before assuming leadership, expanding services including WhiskyInvestDirect.

Director: Tim Levene

Tim Levene began at Bain & Company, gaining global experience before embracing entrepreneurship. His successful ventures include co-founding Betfair and Crussh juice bars.

As founder of Augmentum Fintech, the UK’s first listed fintech fund, he continues pushing financial innovation boundaries. His achievements earned him recognition and advisory roles in digital strategy.

Management Team

The dedicated management team includes key professionals like Finance Director Justina Prytula and Head of Trading Izabela Kacprzak.

Operating from London headquarters, this 37-member team ensures smooth platform operations, handling technology, customer service, and payment processing for global users.

Why was BullionVault Set Up?

BullionVault emerged as a solution to address significant challenges that made it difficult for everyday investors to access, store, and trade gold at competitive rates.

The professional bullion market, where the most favorable gold prices exist, typically deals with substantial gold bars valued at approximately $800,000 each.

Such high entry costs and storage expenses for these large bars create barriers for individual investors seeking to participate in the market.

BullionVault’s innovative approach enables investors to purchase fractional ownership of these large gold bars, or complete bars for those with sufficient capital.

This system grants individual investors access to the same competitive pricing enjoyed by professional traders. When trading through BullionVault, investors benefit from professional market rates.

The platform ensures all gold and silver holdings are securely stored and fully insured, eliminating personal storage concerns.

Additionally, investors maintain direct legal ownership of their metal. BullionVault maintains competitive dealing and storage fees, making precious metal investment accessible and economical for retail investors.

Why Choose BullionVault?

BullionVault stands out as the premier online marketplace for precious metals trading, managing substantial assets worth £3.3 billion.

Their gold holdings alone amount to £2.4 billion, surpassing the reserves of numerous nations. The platform accommodates diverse investment levels, from £100 to £10,000,000, ensuring accessibility for various investor profiles.

The competitive trading costs enhance the investment value proposition. Quick liquidation with next-day settlement provides excellent flexibility.

Investors receive allocated ownership of physical gold, silver, platinum, and palladium, stored in secure international vaults. This means you possess actual metal, not merely digital certificates.

The minimal storage fees maximize investment returns. The peer-to-peer trading system eliminates intermediaries, potentially reducing transaction costs.

Multi-currency trading capabilities help avoid unnecessary exchange fees. The platform operates continuously, allowing trading at any time. These comprehensive features establish BullionVault as a leading choice for precious metals investment.

How Does BullionVault Work?

BullionVault facilitates the trading of physical gold, silver, and platinum. Investors purchase metals at market prices, with storage options available in various international vaults.

The process follows these steps:

1. Signing Up: Create an account by providing personal information and completing identity verification.
2. Adding Money: Fund your BullionVault account through bank transfer.
3. Buying Bullion: Purchase precious metals at market prices plus minimal commission.
4. Storing Your Bullion: Select your preferred vault location for secure storage.
5. Owning Your Bullion: Maintain direct ownership with daily online verification.
6. Selling Anytime: Liquidate holdings at market prices with modest fees.
7. Getting Your Money: Withdraw funds or reinvest in additional bullion.

This streamlined investment approach includes consideration of storage fees and market price fluctuations.

What is Their Regular Gold Investment Plan?

BullionVault’s Regular Gold Investment Plan offers a structured approach to precious metal investment, accepting USD, GBP, or EUR deposits. Account holders establish recurring deposits, and BullionVault executes automatic gold purchases.

Transactions occur at London’s daily fixing price, a benchmark rate recognized by market professionals. The purchased gold remains secured in Zurich vaults, eliminating manual trading requirements.

Implementation involves setting up monthly bank transfers to your BullionVault account. The program offers flexibility to terminate or liquidate positions without prior notice.

Activation requires enabling Auto-Invest within your account settings, followed by establishing regular bank transfers.

The fee structure includes a 0.5% commission on trades, plus additional charges for currency conversion and storage services.

Gold purchases are executed on UK business days at the official fixing price, with settlement occurring within two business days.

To discontinue automatic purchases, users must manually deactivate the Auto-Invest feature through their account settings.

What is BullionVault Promotional Offer?

BullionVault offers a welcoming promotion for newcomers by providing free gold, silver, or cash to demonstrate their platform’s capabilities for buying, storing, and selling precious metals securely.

This promotion allows you to experiment with trading using complimentary silver. While growing your balance through trading alone might be challenging, it serves as an excellent learning opportunity.

Setting up an account is straightforward for anyone familiar with basic internet navigation. The platform provides comprehensive guidance and support materials.

Upon setup, you can explore the interface freely. Most features are user-friendly, though consulting their FAQ section is recommended.

You receive a starter balance, potentially in gold or cash. Though modest, this amount helps familiarize you with BullionVault’s operations. Many users feel confident adding more funds after experiencing the platform.

Remember to validate your identity promptly. Unvalidated accounts without additional funding may be closed to accommodate new promotional participants.

What is a Live Order Board?

BullionVault’s Live Order Board simplifies precious metal trading through an intuitive interface. It displays the top three bids and asks prices for metals across various storage locations, showing weights in kilograms or troy ounces.

Users can purchase metals by weight, starting from one gram with no upper limit. Partial orders are possible – you can purchase any portion of a listed amount, from a single gram to the entire quantity, offering complete investment flexibility.

How to Buy On the Live Order Board

The order board displays real-time trading opportunities. Successful trading requires:

• Quick responsiveness.
• Sufficient funds for purchases.
• Adequate metal holdings for sales.

Important: Insufficient funds or metal holdings will result in failed transactions with an ‘insufficient funds’ error message.

5 Steps to Trade on the Order Board

Trading might seem complex initially, but these steps simplify the process.

Step 1: Log in

• Access your account.
• Navigate to BUY/SELL for order board access.

Step 2: Set Up What You See

• Use ‘Edit markets’ to customize currency and vault visibility for focused trading.

Step 3: Watch Prices Live

• Enable live price charts for global BullionVault pricing.
• Use charts for timing purchase decisions.

Step 4: Keep an Eye Out

• Monitor the self-updating order board.

Step 5: Move Fast When You See a Chance

• Act promptly on opportunities.
• Select desired trading symbols.
• Complete transactions through the order panel.
• Verify and confirm orders.

Following these steps prepares you for effective order board trading. Success depends on preparation, vigilance, and swift action.

How Does Their Daily Price Work?

The Daily Price mechanism sets values for precious metals each weekday. London banks determine prices through auctions: gold at 3 pm, other metals at 12 pm and 2 pm London time.

These benchmark prices become available on the London Bullion Market Association’s website after midnight, serving as global reference points.

How Does it Work for Buyers and Sellers?

Submit your order quantity before cutoff times: 2:35 pm for gold and earlier for other metals. Orders initially use estimated prices, with actual auction prices applied the following day.

Fees include 0.5% per transaction, plus 0.3% for pound or euro transactions (waived for USD). Standard storage and insurance fees apply.

Purchases occur in gram units, with unused funds returned to your account. Trading halts during weekends and holidays when Daily Prices aren’t set.

When Do You Actually Get Your Metal or Money?

Your metal or money typically appears in your account within two days. However, you can immediately view the amounts on your balance, which contribute to your total value.

Where Can You Buy and Sell at This Price?

Trading at the Daily Price is generally possible in various vaults, particularly in London, though the New York vault has limited availability due to low demand. Some vaults might have restrictions for specific metals due to high delivery costs.

How’s the Price Per Kilogram Figured Out?

The Daily Price is published in troy ounces (distinct from standard ounces) and displayed in US dollars, euros, and pounds.

Orders are processed in kilograms, requiring conversion from the official price to kilograms, rounded to the nearest whole currency unit, with identical buying and selling prices without markups.

About Storage and Insurance

Your purchased precious metals (gold, silver, platinum, or palladium) are securely stored in premium bullion vaults worldwide under professional management with full insurance coverage.

You can choose from major market locations:

• Zurich, Switzerland
• London, United Kingdom
• New York, USA
• Toronto, Canada
• Singapore

This enables you to store bullion internationally if desired.

Who Are Loomis International, Malca-Amit, and Brink’s?

These companies partner with BullionVault for secure precious metal transportation and storage. Loomis International (formerly Via Mat International until 2015) specializes in valuable asset security, particularly in Switzerland, handling Swiss bank transfers.

Malca-Amit, established in Tel-Aviv (1963) and now Hong Kong-based, provides global valuable transport services with secure facilities across eight countries.

Brink’s, from Richmond, Virginia, offers secure money and valuable transport services globally, operating in over 100 countries with approximately 70,000 employees.

These partners maintain BullionVault’s metals through robust security, regular audits, and comprehensive insurance coverage.

Buying and Owning Bullion

Your bullion purchase includes vault storage and insurance. The metal remains vault-stored even after the sale. You can verify your registered bullion ownership through their website.

Why Not Banks?

Banks primarily focus on loans and financial transactions rather than physical precious metal storage. While banks lack specialized bullion security, selected vaults operate under strict safety and reliability standards.

Security in the Vault

Your bullion receives comprehensive protection and insurance within the vault. You select the jurisdiction for asset protection and can modify this choice as needed.

Your account features advanced encryption, with policies preventing unauthorized asset removal even if account security is compromised.

Bullion Insurance

Vault security excellence makes bullion insurance cost-effective and straightforward. Insurance costs are included in vault operator fees, with coverage documentation available online.

Offshore Storage

International bullion storage protects against potential government seizure. Multiple vault locations worldwide offer enhanced security.

Your account benefits from maximum security measures. Additional safeguards protect assets and funds during potential internet security issues.

The ‘Burglar Alarm system provides text alerts for significant account activities, including new logins or withdrawal attempts. Enable these alerts by adding your international format phone number in account settings.

BullionVault Fees and Costs

Understanding BullionVault’s precious metal investment fees and costs helps optimize investment decisions.

Commission

BullionVault’s trading commission structure:

• 0.5% for transactions under $75,000.
• Reduces to 0.05% for deals exceeding $600,000.

Higher trading volumes qualify for lower commission rates. For instance, a $100,000 metal purchase incurs $500 in fees, with large-volume traders benefiting from reduced rates.

Storage & Insurance

Monthly vault storage fees include insurance coverage against theft or damage:

• Gold storage: 0.12% annual value rate.
• Silver and platinum storage: 0.48% and 0.60% annual rates respectively.

These competitive fees are automatically deducted from your account, providing convenient service and insurance protection.

Bank Transfer Costs

Transferring funds to and from BullionVault involves various costs, particularly for international transactions.

The costs fluctuate based on your bank and location:

• Domestic transfers typically have minimal or zero fees.
• International transfers carry higher fees.

Consulting your bank about specific fees helps avoid unexpected charges. Monitoring these expenses is crucial to prevent them from reducing your investment returns. A clear understanding of all costs enables better financial management on BullionVault.

Deposits and Withdrawals

Start by linking your bank account to BullionVault. You can deposit funds through bank wire, online transfer, or check. UK residents have access to rapid bank transfers via Truelayer.

Time it Takes

• GBP (British money): Quick bank transfer processes instantly.
• EUR (Euro): SEPA transfers to London bank complete within one day.
• Bank Wires: Processing takes 1-3 days.
• Online Bank: Requires up to 5 days.
• Checks: Processing extends to 15 days.

Deposits are fee-free.

Steps to Add Money

1. Access your BullionVault account.
2. Navigate to ‘Account’ > ‘Deposit Funds’.
3. Select your bank’s location and currency type.
4. Follow specific payment instructions.
5. Complete the transaction as guided.

Quick Bank Transfer: Available for numerous UK banks, allowing direct transfers from BullionVault to your banking application.

Withdrawals

Withdrawal requests require a minimum balance of $100 and are processed through bank wire:

Fees Change by Where You are

• US: ACH transfers cost $10, other methods $30.
• UK: Free for amounts under £20,000; £20 fee for larger amounts.

Processing typically occurs the next business day.

Steps to Withdraw Money

1. Log into the account and select Withdraw funds under the account section.
2. Specify the withdrawal amount and submit it.
3. Review details on the confirmation page and approve.

When You’ll Get Your Money

• US Banks: ACH ($10 fee), SWIFT ($30 fee).
• UK Banks:
  + CHAPS for amounts exceeding £20,000 (next-day delivery).
  + BACS for amounts under £20,000 (three-day delivery).
• EU, EEA, and Swiss Banks: SEPA transfers complete within days, €5 fee applies.
• Other International Banks: SWIFT transfers, variable fees.

Note: Actual timing depends on your banking institution.

Include your BullionVault username with bank transfers. Verify currency conversion options with your bank.

Currency conversions may occur automatically, potentially incurring additional fees. For assistance, consult BullionVault’s help resources or contact customer support.

Is There Any BullionVault Mobile App?

BullionVault offers a convenient mobile application compatible with iOS and Android devices, mirroring website functionality.

Users can execute trades, monitor investments, and track market prices directly from their smartphones. This mobile solution ensures continuous access to trading opportunities, regardless of computer availability.

The user-friendly interface accommodates both novice and experienced investors, enabling efficient portfolio management on the go.

Their Educational Resources

The gold news section serves as a comprehensive information hub for precious metals investors. This resource caters to both seasoned investors and newcomers, providing valuable insights into the precious metals market.

Content covers extensive topics including global economic impacts on gold values and investment strategies.

Coverage encompasses international gold markets, price movement analysis, and the influence of banking decisions and economic policies.

The platform effectively bridges complex economic concepts with current global events, making information accessible and relevant.

Regular engagement with these resources enhances investment decision-making skills and broadens understanding of economic factors affecting gold markets.

The content maintains accessibility through clear, jargon-free explanations that benefit all knowledge levels.

Customer Reviews and Ratings for BullionVault

Looking at BullionVault’s customer feedback across various platforms reveals diverse opinions.

Trustpilot showcases an impressive 4.7 out of 5 rating from 2,785 reviews, suggesting strong customer satisfaction.

Mobile users rate their experience highly, with the app scoring 4.8 out of 5 on the Apple Store and 4.7 out of 5 on the Google Play Store, where downloads exceed 500,000.

However, some platforms show contrasting feedback. Sitejabber displays a 1.5 out of 5 rating from a single review, while the Better Business Bureau (BBB) shows 1 out of 5, also from one review.

The BBB notes BullionVault lacks accreditation, warranting consideration. Employee sentiment on Glassdoor reflects positively with a 4.2 out of 5 rating based on eight reviews.

Satisfied customers consistently praise the responsive customer service team, highlighting their efficient problem-solving abilities.

The platform’s user-friendly interface receives recognition, particularly for simplifying gold transactions. Special mention goes to Ms. Sinziana Cocan for exceptional service.

Critical feedback centers on pricing concerns and account closure difficulties, leading to user frustration.

What Are Customers Saying About the Company?

BullionVault’s gold investment services receive widespread acclaim, with CEO Paul Tustain validating customer testimonials.

Feedback combines direct customer emails and expert reviews, while industry awards for innovation and growth demonstrate market recognition.

Users appreciate the platform’s accessibility, competitive pricing, and supportive customer service. The global vault network adds particular value.

Financial experts Doug Richard and Bill Bonner endorse BullionVault’s efficient online trading system and reasonable fee structure.

Wealth management professionals recommend BullionVault for portfolio diversification and inflation protection.

The platform stands out for democratizing gold investment, evidenced by consistent positive feedback across the investment community.

Pros and Cons of BullionVault

Let’s examine BullionVault’s strengths and limitations for potential precious metal investors.

Pros:

• Easy to Use: The platform offers intuitive navigation suitable for newcomers.
• Low Costs: Competitive pricing structure benefits larger investments.
• Safe and Secure: Robust security measures include daily verification protocols.
• Use it Anywhere: Seamless access through website and mobile applications.
• Clear About Costs: Transparent fee structure with no hidden charges.
• Helpful Support: Responsive customer service through multiple channels.

Cons:

• Transfer Fees: Bank-related charges may impact overall costs.
• Takes Time to Learn: Initial learning curve despite user-friendly design.
• Need to Pay for More Features: A premium account is required for advanced functionalities.

BullionVault provides a secure, accessible platform for precious metal investment, distinguished by user-friendliness and fee transparency. Consider the additional costs and learning requirements when evaluating alignment with investment goals.

Is BullionVault a Reputable Company?

BullionVault demonstrates strong credibility as an online precious metals trading platform. Operating since 2005, they serve investors across 175 countries.

The company safeguards approximately $3 billion worth of gold and silver in secure vaults across London, Zurich, and New York. Their platform democratizes gold market access through real-time pricing and trading capabilities.

Membership in the London Bullion Market Association (LBMA) underscores their commitment to industry standards and regulatory compliance.

Conclusion

BullionVault emerges as a compelling option for precious metals trading and storage. The platform combines ease of use, competitive fees, and worldwide secure storage solutions. Their commitment to transparency enables confident, efficient investment management.