Sprott Money Review (Is It A Good Company?) (Updated 2022)

January 27, 2022

Sprott Money Review

Welcome to my Sprott Money Review.

(UPDATED 2022)

If you are wondering whether this company is legit or a scam, then you are in the right place to look for answers.

This Sprott Money Review is going to reveal all the crucial and vital information you need to learn about it.

Without any further ado, let's get started.

Sprott Money Review Quick Summary

Name: Sprott Money

Website: https://www.sprottmoney.com/

Founder: Eric Sprott

Price: Varies depending on your investments

Rating: 4/5

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What is Sprott Money?

Sprott Money is an international precious metals dealer based in Toronto, Canada.

It was founded by Eric Sprott in 2008. The company offers products online, as well as over the phone.

Other than precious metals, Sprott Money offers precious metals IRA services to Canadians. Recently, it launched these services in the U.S.

Sprott Money Products and Services

Sprott Money offers various kinds of precious metals including gold, silver, platinum and palladium. The following IRA accounts are also offered:

  • RESP – Registered Education Savings Plan
  • RRSPs – Registered Retirement Savings Plan
  • LIF – Life Income Fund
  • TFSA – Tax-Free Savings Account
  • RIF – Retirement Income Fund
  • LIRA -Locked-in Retirement Account

There is not much information about the company's fees. However, I found out that trades over the amount of $2000, the company does not charge any commission.

However, under that amount, each trade has a $20-fee.

Storage Services

Sprott Money offers storage services to its clients. According to the company, the minimum annual storage fee is $200, plus the applicable taxes.

Moreover, the minimum monthly fee is $16.67 plus the applicable taxes.

Selling to the company

Sprott Money is also open to buying products from its clients. It buys investment grade precious metals (99.9% gold and silver).

The buy back prices are based on the current spot price and market conditions.

How does it work?

To get started with Sprott Money, you can either open an account online or give them a call. Personally, I recommend to open an online account since the process is easier and faster.

Sprott Money is partnered with Questrade, a registered investment dealer with IIROC.

This means that whenever you open a Sprott Money account, you must also create a Questrade account.

Afterwards, you must fund your account with Questrade, fill up an authorization form, then you can start buying precious metals.

Sprott Money Ratings and Reviews

Below are the only online ratings and reviews that I can find about Sprott Money.

  • BBB - 5/5 rating, A+ rating and BBB accredited, with 1 review

Sprott Money Pros and Cons

Pros

  • Good products and services
  • Been in the industry since 2008
  • 5/5 and A+ BBB rating

Cons

  • Lacks online ratings and reviews

Is Sprott Money A Scam?

Let me conclude this Sprott Money Review with my answer to this question.

Sprott Money is a legitimate company. It has good services and products. Moreover, it also offers educational services, which includes a podcast with its owner.

The company is rated 5/5 and A+ in BBB. However, the only downside is how it does not have enough ratings and reviews compared to other precious metal companies.

Believe it or not, ratings and reviews are crucial in making decisions on precious metal investments. If you want to check out my top recommendation, you can click the button at the bottom of this review.

Thank you so much for reading my Sprott Money Review. If you have any comments or questions, feel free to leave them in the comments section.

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 Questions? Call 855-444-7022


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