BullionVault is a precious metals trading company based in London, UK. Founded in 2003, the company began dealing in precious metals online starting in 2005 and now has a unique Internet-based trading platform and vaults located around the globe. Because BullionVault is under the partial ownership of the World Gold Council, its customers enjoy a broader selection of gold, silver, platinum and palladium than what they would find from many other sellers. This BullionVault review will cover the positive and negative aspects of the company as well as its reviews at consumer reporting agencies.
Positive Aspects of BullionVault
A majority of BullionVault reviews cite its multiple locations, unique trading platform, convenience and affordability as being among its advantages. Here is a deeper look at each of these upsides.
According to many a Bullionvault review, investors storing their gold and silver with the company appreciate the option to keep their precious metals at multiple locations worldwide. In fact, Bullion Vault has vaults located in London, Zurich, New York, Toronto and Singapore. Naturally, interest in long-term financial security is mentioned as being important in more than one Bullionvault review. Having the ability to store precious metals in more than one place could potentially provide an added hedge against economic problems in individual regions.
Online Trading Platform
The trading platform offered by this company is lauded by a number of BullionVault reviews. For many investors, the chance to buy and sell precious metals is essential to preserving future wealth. While buying and selling can be surprisingly complex in other settings, the Bullion Vault platform simplifies these actions and even offers customer service to help investors through the process. This feature rates highly in many Bullion Vault reviews.
Busy investors are bound to appreciate greater convenience when they make purchases. Thanks to the Automatic Gold Investment Plan from Bullion Vault, investors can buy gold automatically through deposits made in their accounts. This eliminates the need to manually make purchases on the trading platform and promotes savings through current London prices. Furthermore, this process carries no obligations and can be stopped whenever investors wish.
More than one BullionVault review has mentioned that buying from this company is more affordable than purchasing similar products from dealers, which collect a commission. Large bars of gold and silver, a standard set by the London Bullion Market Association, save buyers money by eliminating the need for extra smelting that would be required for smaller products. Further savings is ensured by the fact that no precious metals purchases made from this company come with taxes.
Let’s continue this Bullionvault review by now taking a look at the negative.
Negative Aspects of BullionVault
Downsides of BullionVault involve its handling of payments, its customer service, its UK location and its limited business model. Here is more about each of these potential issues and whether they could point to a BullionVault scam.
In at least one BullionVault review, an investor mentioned that the company failed to credit his or her account after he or she sent the company a check. Although no investigation had been completed at the time of that review’s writing, this possible issue might cause some to wonder if a BullionVault scam is underway.
One Bullion Vault review claimed that the company had not provided respectful customer service. On the contrary, the reviewer had apparently been treated condescendingly after contacting the company to discuss a matter. Moreover, the writer of that Bullion Vault review said that no action was taken to correct the problem that was at hand.
Some BullionVault complaints have centered on the fact that the company is located in London, UK. While Bullion Reviews from UK-based investors may have no problem with this, it could present challenges to investors located elsewhere if problems arise. In such scenarios, investors may have trouble contacting the company because of different time zones and might encounter legal hurdles because of different laws. Unfortunately, this could lead to a poor BullionVault review if an investor were to have difficulties resolving a problem with the company.
Limited Business Scope
According to some BullionVault complaints, the focus of the company on precious metals trading leaves more to be desired by some investors. Indeed, many investors have indicated in Bullion Vault reviews that they are interested in precious metals as an IRA-based hedge against financial loss in later life. Investors interested in a gold IRA may want to consider looking elsewhere unless they are comfortable with this fact.
Consumer Reporting Agencies
Any Bullionvault review would be incomplete without the mention of listings and ratings with various consumer reporting agencies.
At the Better Business Bureau, BullionVault is listed as not being accredited by the bureau. However, the BBB has given BullionVault an A rating. BullionVault reviews accurately reflect the very good track record enjoyed by the company with the BBB: In the past three years, Bullion Vault has had only one closed complaint, which involved billing or collection. This seems to dispel any ideas of there being a BullionVault scam.
TrustLink does not list this precious metals trader.
The BCA does list the BCA and gives it an AAA rating, but it does not list any Bullion Vault reviews at this time. The high BCA rating would also seem to indicate a lack of BullionVault complaints thus far.
Investors who have read this Bullionvault review should have a clear idea of where this precious metals trader excels and where it may fall short. Although a number of BullionVault complaints have surfaced, any BullionVault scam seems unlikely for now. Nevertheless, investors may want to consider watching future BullionVault reviews before deciding to do business with the company.