BullionVault was established in 2005 and has its head office in London, England. This peer to peer precious metal business allows you to acquire bullion and keep it in a vault. That means you don’t need to have it delivered.
BullionVault is similar to a stock brokerage, due to the fact that you can sell and buy or monitor your investments. Since October 2013, over 50,000 people have chosen the organization to purchase, trade and store precious metals. Overall, those investors own gold bullion appraised at a total of $1.4 billion, which surpasses the values by most central banks around the world. Those investors also own silver bullion worth $305 million.
One attribute that differentiates BullionVault is the fact that the WGC (World Gold Council) partially owns it. The company’s ample assets and huge network of investors enables it to offer very competitive precious metal rates and low premium costs. Consequently, many individual traders and retail investors have been able to try out professional bullion investing for the first time.
The Exchange Facility.
BullionVault clients store their precious metals in vaults that are managed by the organization, under a legal bailment contract. All bought bullion is put into allocated storage in London, Zurich, Toronto, Singapore or New York (using Brink’s or Via Mat International), according to the customer’s preferences. The market order board offered by BullionVault displays the ask and bid costs for gold and silver. New customers have to provide proof of address and identity, as well as designate a specific bank account to fund their account with BullionVault.
As opposed to DGC (digital gold currency), BullionVault does not allow direct transfers of gold units between customer accounts. However, customers can buy and sell gold to each other on the exchange platform. On a daily basis, BullionVault carries out an audit to correlate the holdings of each client with the latest bank statements and bar listings. This demonstrates all the clients’ precious metals are stored securely inside the vaults.
Usually, the precious metal you own by using BullionVault is not connected to any specific bars. As a matter of fact, most BullionVault bars are jointly owned by several different investors. Nevertheless, if you have a certain amount of precious metal in a vault which is the equivalent of at least one standard bullion bar, you can choose your bars as appropriate and then opt to register them in your name. After this, they are classified as “reserved bars” and you own them exclusively.
The Daily Rates
Since March 2013, BullionVault has made it possible for its clients to sell and buy vaulted gold and silver at the prices set by the London gold/silver fix, which are independently calculated each day. This option is available on the BullionVault site, alongside the company’s market order board. Besides, BullionVault introduced a strategy for “Regular Gold Investment”, by which customers can automatically buy gold that is kept in Zurich at the day’s rates. Customers fund their BullionVault accounts each month, with a standing order payment from their bank. After the the funds are credited, they are used by BullionVault to acquire precious metal at daily prices.
Ratings and Reviews
BullionVault is not accredited with the BBB (Better Business Bureau), even though it does have an A+ rating — the highest possible score. That is not typical because as a rule, the BBB only awards the best scores to accredited companies. Nevertheless, that is a positive sign, because the BBB charges businesses for accreditation. Consequently, critics have remarked equivalent to buying a solid reputation. Considering the fact that BullionVault has not paid the Better Business Bureau anything, this common opposition is not applicable, so the organization must have earned its A+ ranking on merit and nothing else.