BullionVault is one of the world’s largest online investment gold services that has over 100,000 users from all over the globe. Gold Bullion Investment Trust (GBIT) and Augmentum Fintech plc partly own the platform. BullionVault has also won numerous awards, including the Best Gold Broker Reader’s Choice Award, and it has claimed three Queen’s Awards for Enterprise.
A lot of traders and investors choose BullionVault because it offers low rates for buying and selling, dealing in any size, next-day withdrawals, high-security vaults, daily audits, wholesale storage rates and insurance. You can also set your own price, deal in your own currency and deal at any time of the day.
How it works
BullionVault lets you open an account for free, deposit funds, and receive insurance coverage. If you want to buy or sell gold, silver, platinum or palladium, you’ll pay a 0.50-0.05% commission rate, depending on the sum of all purchases. BullionVault also lets you store gold, silver, platinum or palladium.
The platform charges different fees (insurance included) for each type of metal. You can check their website for further information about buying, trading or selling precious metals. You can also sell your holdings and transfer funds directly to your bank account. Their professional delivery system also helps you save more on delivery and fees.
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Why we need BullionVault
Private investors and individuals lack access to professional vaults, which puts their precious metals at risk. The physical appearance and condition of the metal itself can also affect its price.
That’s why keeping metals in a safe, dry place matters. BullionVault also offers some of the best prices for gold and silver, which benefits traders and investors alike. Because BullionVault operates in the professional market, you can access a part of a good delivery bar or even an entire bar of precious metal. BullionVault insures and stores your metal according to your preferences, and you retain full legal and physical ownership of it.
BullionVault is also user-friendly: it offers both a website and an app you can download through the Google Play Store or App Store. The website’s interface is easy to use and largely self-explanatory.
History
Paul Tustain founded BullionVault on October 27, 2003, in London, United Kingdom, where the company still keeps its headquarters. In an interview with Mike Norman, Tustain explained how he started the company after buying a “strange” contract. He didn’t own physical gold, and it wasn’t a futures contract either.
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Instead, he’d bought unallocated gold, meaning he essentially held a bookkeeping entry at a bank. This gave him the idea that more people might want to do the same. Even though he hadn’t fully grasped what he’d bought at first, the contract led him toward far more opportunities than simply owning a gold bar. Since sellers typically price gold in US Dollars, converting and trading it proved difficult for him, especially since he held his money in Euros.
That’s why he decided to make BullionVault available for trading, buying and selling across every major currency. He also figured many people would want this option, since it meant they wouldn’t need to store their own physical gold — BullionVault could store it for them in vaults across different parts of the world instead. Since many foreign investors operate outside the United States, he wanted to serve them too.
Today, BullionVault holds gold stocks in locations spanning London, Zurich, New York and even Singapore. The company now counts 4 investors, including Augmentum Fintech and Piton Capital, and has raised at least $18.3M since 2003.
Safety and Security
You can choose where to store your bullion: Zurich, Switzerland; London, United Kingdom; New York, USA; Toronto, Canada; or Singapore. BullionVault chose these locations because they cover the world’s most active bullion markets.
BullionVault doesn’t store bullion in banks because banks don’t deal in precious metals — they make money by providing credit and executing transactions instead. BullionVault fully commits to protecting your bullion: it insures your holdings (you can view proof on the website), and the metal exists under whichever jurisdiction you personally choose. You also get 24/7 access to your account, secured through cryptographic methods.
BullionVault also runs a “Burglar Alarm” feature. Whenever suspicious activity occurs on your account, BullionVault automatically sends an SMS message to the mobile number you provided at registration to keep you informed.
BullionVault chose SMS specifically so you can monitor your account even when you’re away from a computer. The system also sends SMS alerts whenever someone logs into your account, places an order, or submits a withdrawal request. You can customize these preferences anytime from the settings page.
Every day, BullionVault publishes proof of ownership on its website. You can view
