Hello! Welcome to my "Is FideliTrade A Scam?" Review!
There are a lot of companies out there that provide investors access to precious metals in hopes of diversifying their investments and protecting them from economic crises.
One of these companies is FideliTrade. However, is it legit? Or is FideliTrade a scam? What does FideliTrade offer? What reviews and complaints has FideliTrade received?
Don't worry because all of these questions will be answered right here! Let's get started.
FideliTrade Review Quick Summary
Company Name: FideliTrade
CEO: Jonathon Potts
Services: Buying and selling of gold, silver, palladium and platinum coins and bars
Rating: 3.5/5
Fair Warning:
No matter what you are planning to buy, make sure to do thorough research before giving anyone your money. This is especially important if you spend a large amount of money on a product.
Many brands can have amazing marketing campaigns but lack professionalism. These companies can also use shady tactics like charging “hidden fees”.
With that said, never forget to do your due diligence before transacting with any company.
What is FideliTrade?
FideliTrade is a precious metal company based in Wilmington, Delaware. It was founded by Jonathan Potts in 1997 and has been in business ever since.
Clients can buy and sell precious metals with FideliTrade. This company offers bullion coins and bars of gold, platinum, palladium and silver.
FideliTrade claims to have low prices, fully insured deliveries, custody insurance of up to $1 billion, free limit orders, 30-day custody for free and no sales tax. These are all listed on the company’s website.
Moreover, Fidelitrade has a subsidiary that offers storage services called Delaware Depository, which is one of the largest depositories in the United States.
It is partnered up with various other precious metal companies and IRA custodians to offer storage services for bullion.
FideliTrade is also an authorized dealer of the U.S. Mint, along with only 11 companies around the world.
The company is also a member of various organizations and associations such as the following:
- National Coin & Bullion Association
- Delaware State Chamber of Commerce
- International Precious Metals Institute
- London Bullion Market Association
Company Background
To better understand the goals of the company, let us discuss its roots and history and how FideliTrade became to be.
In 1997, Jonathan Potts was the Vice President of the company, Wilmington Trust and was in-charge of the precious metals division.
However, the day came when the bank decided on dissolving the precious metals division, endangering its employees. Jonathan then, made the strategic decision that was a bit unusual during that time, but to him, it made great sense.
He bought all of the precious metals division from the bank instead of waiting to be reassigned to another division. And that was how FideliTrade started.
It started its operation in 1998 with 5 new employees from the bank and with a 720 sq. ft. office.
Currently, FideliTrade has over 50 full-time employees and occupies 4 buildings in the bank, with a total floor area of 72,000 sq. ft.
FideliTrade Products and Services
Being a precious metals company, FideliTrade sells precious metals such as gold, silver, platinum and palladium.
In its website, FideliTrade has a product catalog which shows the available precious metals you can choose from.
Among them are 1 oz. Gold American Eagle, 1 oz. Silver Canadian Maple Leaf, 1 oz. Platinum Bullion Bar (.9995+), 10 oz. Platinum Bullion Bar (.9995+) and many more.
Moreover, FideliTrade is willing to buy your precious metals in case you want to liquidate them!
For IRA services, FideliTrade is not a custodian. However, they can assist you with purchasing the best precious metals that are eligible for IRAs as they also work with various IRA custodians. However, it was not revealed who these partner custodians are.
Furthermore, FideliTrade offers storage services through Delaware Depository. They have a facility in Wilmington, Delaware and Toronto and Zurich for international options. Both segregated and non-segregated storage are available.
How to get started?
To start purchasing precious metals from FideliTrade, you need to create your own online account in its website. Afterwards, you can start purchasing products up to $15,000.
If your orders exceed that amount, a deposit is required before you can start making your first purchase.
As for the shipping, all products are fully insured. So rest assured that you will be compensated if ever things happen to your precious metals during shipping.
FideliTrade accepts different payment methods including check, bank wire, ACH and credit card.
However, take note that for ACH payments, the maximum amount is $30,000. For credit cards, the maximum is $3,000 and fees also apply.
As for liquidating your precious metals, you need to contact FideliTrade and inform them that you want to sell your precious metals to them. Moreover, they accept bullion that are not from them.
Another thing to take note that is that before your bullion is sold, they must be sent to the depository and be deposited first. But don't worry because FideliTrade will help you with the shipping.
It also offers a free 30-day fully insured and secured custody of the precious metals. In this way, you can monitor the current market prices of your bullion.
FAQs about FideliTrade
The company accepts payments in the forms of bank wire, personal checks and cash/credit card.
It’s worth noting that credit card payments are only up to $3,000 for existing customers and $500 for new customers and fees apply.
ACH payments cannot exceed $15,000 for delivery. While for custody, they cannot exceed $30,000.
The company accepts payments in the forms of bank wire, personal checks and cash/credit card.
It’s worth noting that credit card payments are only up to $3,000 for existing customers and $500 for new customers and fees apply.
ACH payments cannot exceed $15,000 for delivery. While for custody, they cannot exceed $30,000.
FideliTrade buys and sells gold, platinum, palladium and silver coins and bars. They can also be your dealer if you want to start an IRA account.
They operate with different IRA custodians and can help you buy metals to start an IRA account. If you deal with FideliTrade, you will be spared from shipping fees.
Yes, FideliTrade use Delaware Depository in Wilmington, DE. The company also has custody services in Toronto, Canada as well as in Zurich, Switzerland.
What are people saying about FideliTrade? (May, 2023)
MAY 2023 UPDATE: As May, 2023, it still does not appear to exist in Trustpilot.
There appears to be hardly any reviews found online for FideliTrade. However, they do have a BBB rating of 5/5 based on 2 customers reviews:
Two reviews is not that many, though. Take it with a grain of salt. If you really take into consideration the ratings and reviews of a company, then you better look for others as FideliTrade does not have much.
FideliTrade Pros and Cons
Pros
Cons
Is FideliTrade A Scam?
FideliTrade is not a scam. They have been serving people for more than 20 years which says so much about the company’s stability.
They also have a real physical address which is unlike some of the new companies who only have an online presence.
These factors are just some of the major things you should look for when determining whether a company is worth your time or not.
As for FideliTrade, so far, all things check out. Still, it’s better to go through more resources until you feel very certain that you can trust this company with your money.
Are there any alternatives?
Goldco is also a great company to start your precious metal investments with. This company offers Gold IRA alongside selling precious metals.
They are best suited for people looking to invest in multiple investments at once. Goldco has great reviews and ratings online.
Conclusion
FidelTrade is a legit website offering legit services. So far, they seem trust-worthy. If there is one thing to add, thought, it's that the company doesn’t have any online ratings from its clients.
That might be a good or bad thing depending on how you look at it. It is great that nobody has a bad thing to say about the company.
However, it would be much easier to trust a company if actual people make actual testimonies about their experience with that certain company.
Reviews and ratings do not only give prospect clients and idea on how good the service of a company is, they also give people an idea on the volume of customers a company has.
Meanwhile, if ratings is as important to you as they are to us, check out Goldco. They have received great reviews over the years coming from actual people. Click on the orange button below to learn more about Goldco
Thank you so much for reading my "Is FideliTrade A Scam?" review! If you have any questions or comments, please feel free to leave them below in the comments section!
FideliTrade is a great company to do business with, the process is easy and fast. Your business is to the penny at the moment of your call. They have the lowest premiums that I have found so far, they were recommended to me by a friend after trying many others throughout the country. If they treat a nobody like myself this well, I imagine a bigger player will save exponentially. I would rate them a 10, or A+++
Hello Dave! That is great to hear! We appreciate you sharing your experience with FideliTrade!
I have had the privilege of working with the folks at Fidelitrade. They are the real deal. They take their mission of being a precious metals depository and commodity exchange service seriously.
I observed their interaction with clients. Selling, buying, or just looking at their metals, coins, etc. Every client is treated with the utmost discretion.
Their physical security, customer privacy, and in-house safeguards are equal to what one can expect from the US Mints. All employees and vendors alike are fully vetted.
Having had a close experience with Fidelitrade for over 17 years, they are here to stay. They handle some of the most prestigious accounts in the world.
Their public presence, while limited. Is the better side of common sense. Owning pre ious metals and coinage is private and should be as discreet as possible. They are a full service previous metal dealer. They are trustworthy to a fault. They are not a scam. They are the real deal.
Thanks for your review
Hi Vincent, thanks for sharing with us your positive experience with Fidelitrade!