BullionVault is a little different to typical bullion dealers. In fact, it’s not really a dealer at all. With BullionVault, you are buying virtual gold and silver through the BullionVault software, before selling this back when the time comes. In this sense, BullionVault operates much like Forex trading software. You deposit into your BullionVault account, you use their software to buy/sell with other members anonymously, and all profits are returned to your BullionVault account. Trades are instant, and they are available at close to spot price.You will never see the gold or the silver that you own, but all trades are backed by physical gold and silver, and BullionVault have a huge stockpile of this to back all trades made through its software. With BullionVault you can buy in an instant, as soon as the price tempts you, and you can sell as soon as it increases. This might not be ideal for gold and silver stackers, and for investors who want something tangible, but if you’re in this for the profit only, then BullionVault is perfect.
BullionVault: Comparisons with competitors
If you stand BullionVault up against other bullion “dealers” then you will notice some obvious benefits and short fallings, but most of that is down to the way that BullionVault operates. For instance, if we focus on the main things that customers look for, including reputation, price and variety, they clearly excel in some areas, but fail miserably in others:
Website: The BullionVault website is very simple, and this simplicity is often off-putting, but as it focuses on trading and not selling individual products, it needs to be this way.
Reputation: BullionVault is one of the most respected and trusted bullion dealers in the business. It is a service that is known and trusted throughout.
Safety: As BullionVault customers technically have all of their investments in their BullionVault accounts, they have made safety a top priority, and rightly so. You will get an email every time someone logs into your account, and there are strict encryption methods used to keep your details and your investment safe.
Customer Service: BullionVault are quick, always on the ball. We have never had an issue in this regard, although there are very few occasions in which you will actually need to contact their support.
Reliability: We have been trading with BullionVault for some time, and we have never encountered any downtime. Simply put, they would lose a lot of money if they were down even just for a minute, so they do all they can to ensure that doesn’t happen.
Products: BullionVault do not have a lot of products. You can buy “Silver” or “Gold”. That is all. But due to the nature of the service, it wouldn’t make sense if this wasn’t the case.
Prices: BullionVault gives you prices that are as close to spot price as you will get without spending tens of thousands of dollars on a single purchase.
Conclusion of our BullionVault review
Some bullion dealers are only worthwhile if you are located in the same country, otherwise shipping costs and sales taxes/VAT just negate any savings you might make. Others are only worthwhile if you order in bulk. BullionVault, on the other hand, is perfect regardless of location. This is the best way to profit from precious metals, as you don’t need to lose money to shipping costs or retail premiums, and there are no subscription fees to pay either.
As a service and an ideal, BullionVault is perfect. But it’s not perfect if you want to have the gold and silver in your possession, and it’s also not perfect if you want to invest in platinum, palladium or other commodities, as BullionVault is restricted to gold and silver.
Still, that’s good enough for us, and it’s also perfect for many investors worldwide, which is why BullionVault is one of the biggest players in this industry.