BullionVault Review (Is It Legit Or A Scam?) (Updated 2022)

March 11, 2022

BullionVault Review

Hello! Welcome to my BullionVault Review!

(UPDATED MARCH 2022)

Investing in stocks and money, such as dollars can sometimes be at risk, making you lose a lot. That is why there are measures to protect yourself, such as investing in precious metals as alternative investments.

Finding the best firm or company to do it may be challenging since there are a lot of them out there. One of them is BullionVault. By being in this BullionVault review, you are about to learn everything you need to know before you can consider doing business with them. Are you ready?

Without any further ado, let's get started!

BullionVault Review Quick Summary

Name: BullionVault

Website: https://www.bullionvault.com/

Founder and CEO: Paul Tustain

Minimum Investment: 1 gram of gold

Rating: 4/5

BullionVault Review logo

What is BullionVault?

BullionVault Review website homepage

Let's start this BullionVault review by having some background information about it.

BullionVault is a precious metals company and platform based in the United Kingdom. It was founded in 2005 by Paul Tustain. People can buy and sell precious metals such as gold, silver and platinum with this firm.

Moreover, private investors can perform precious metals trading with BullionVault. These metals are stored on the company's behalf by an independent vault operator.

When people buy products from BullionVault, they will earn outright ownership of these and can choose between 5 different vaults in the following places:

  • New York
  • Zurich
  • Singapore
  • Toronto
  • London

Furthermore, clients can choose multiple vaults if they wish to diversify their precious metals in different jurisdictions.

Products

Below is a table that contains the different products details of BullionVault.

Precious metals available

Gold, silver, platinum

Locations of the vaults

  • New York
  • London
  • Singapore
  • Toronto
  • Zurich

Currencies

Clients can trade in British pounds sterling, U.S. dollars, Japanese yen and Euro.

Minimum investment

1 gram of gold

Gold delivery

Optional, has separate fees

Other features

  • Automatic Gold Investment Plan
  • SMS/Email notifications of different account actions

Security

Based on my research, BullionVault claims to have an excellent and sophisticated security for its clients' investments.

BullionVault's independent storage operator, LOOMIS, and the gold storage in Toronto and silver storage in Singapore, Brinks, together with the firm itself, are all members of the London Bullin Market Association.

Furthermore, LOOMIS and Brinks are both part of the world's largest global vault operators and  secure logistics companies.

BullionVault clients' un-invested money are stored at Lloyds TSB bank in a pooled and segregated trust account.

You can learn more about this in BullionVault's website.

Costs

Storage and insurance costs

For gold, 0.12% per year. It is billed monthly and is subject to a monthly minimum of $4.

Premium/mark-up for buying and selling gold

Usually it is about 0.07% in both cases

Free 4 grams of silver

New clients of BullionVault get to receive a free 4-gram silver upon registering.

Automatic Gold Investment Plan

Special fees apply for BullionVault's Automatic Gold Investment Plan. A transaction fee of 0.8% will be charged on buying and selling gold at the daily London price.

Moreover, the ongoing charges for insurance and storage are normal.

Buying and selling gold commission

There are the commission rates that apply on both buying and selling gold.

  • 0.50% for the first $75,000 of gold bought in the year
  • 0.10% for the next  $75,000 of gold bought in the year
  • 0.05% for all the additional gold bought in the year

All of the commission tiers are calculated annually. On the anniversary of a client's registration, the commission rates will reset to 0.5%

Gold delivery withdrawal fee

2.5% of value for the withdrawal fee for the whole good delivery of gold bars (400 troy ounces).

100g bars - surcharge of ca. 3-6%

Non-standard sizes - 7.5% is charged

Funds withdrawal fees

The potential cost of the wiring fund that is directed to the client's bank is deducted from the amount that is withdrawn.

Usually, the charge will not exceed $30. As for the wire transfers in the European Union, the costs are free.

Other fees

You can check the other fees such as SMS text messages notifications in BullionVault's website.

How to get started

To join BullionVault as a client, you will only need to go through 4 simple steps. Here are they.

  • Create an account online in the BullionVault website.
  • Deposit funds into your account
  • Purchase precious metals
  • Prove and validate your identity

Usually it will just take a couple of days for you to finish everything.

Trust ratings

Since BullionVault is a UK-based from, it does not have any ratings in BBB. The only rating that I have found is from TrustPilot and ResellerRatings.

BullionVault Review Trustpilot rating
BullionVault Review Resellerrating rating

Reviews and Complaints

BullionVault Review 1
BullionVault Review 2
BullionVault Review 3
BullionVault Review 4
BullionVault Review 5
BullionVault Review 6

Pros and Cons

Pros

  • Creating an account is free
  • You can sell anytime
  • Quality guaranteed bars
  • Different currency options
  • Low storage costs
  • There is a cost calculator on the website
  • BullionVault is available on mobile
  • Security is excellent
  • Updated trade chart indicator
  • You can deposit any amount

Cons

  • No coins are available
  • No certification of ownership
  • There are some serious complaints
  • There is a high cost of taking out your investments

Is BullionVault a scam?

To conclude this BullionVault review, it is time to know if it is a scam or not.

BullionVault is not a scam. It is a legit precious metals company and marketplace. Moreover, it has a 5-star rating from Trustpilot and is regulated by the London Bullion Market Association.

BullionVault offers you high quality products at low costs. Furthermore, it is guaranteed that your metals are safe and secure with its sophisticated security services!

If you do want to find out the top recommendation for where you should invest in gold and precious metals, check out the next section!

Thank you so much for reading my BullionVault review! If you have any questions, comments or experiences with BullionVault, feel free to share them below in the comments section!

Check out my other reviews here!

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 Questions? Call 855-444-7022


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