When the US economy went belly-up, hundreds of people lost their retirement money. Those, however, who invested in physical gold IRA were protected. In fact, many made money from it. This is probably why people are coming to realize that investing in precious metals could be the protection they need for a more stable future.
Countless companies have opened for people who want to invest in gold and silver IRA. One such company is called BullionVault. The company claims to be an award-winning trading platform for precious metals such as gold and silver. Individuals looking into buying and selling could turn to their platform for help.
BullionVault started in 2003. Then, two years later, the company offered physical gold to people in the internet. The purchases were kept stored in a vault until the client decided to buy or sell these. Those who invested in the precious metals traded had a choice of 4 different vaults placed in the following areas:
- Zurich, Switzerland
- London, UK
- New York, US
- Singapore, Asia
- Toronto, Canada
As you can see, the company tries to cater to customers from all walks of life and from all four corners of the globe. Moreover, those who choose to trade with BullionVault not only have several vaults to choose from, but they can diversify their investments across several jurisdictions.
When Buying Gold IRA
So, what exactly happens should you choose to sign up with BullionVault? First of all, you can buy grams of gold bars. The standard weight is 400 oz. The London Bullion Market Association (LBMA) has set standards for companies dabbling in gold IRA. Each bullion or bar is traded at low premiums. Hence, making these more affordable. And just like the stock market, traders can interact with other traders to buy and sell what they have. BullionVault is simply there to somewhat be the middleman, to open the market to those willing to exchange.
As of March of 2013, BullionVault came up with a new type of service called Automatic Gold Investment Plan. This allows people investing in precious metals to make a regular purchases at set prices. If you sign up and become a member, you can simply deposit money into the company’s official account and the purchase will automatically be made. And if you make regular deposits, BullionVault can also set up a payment scheme that’s made monthly. And if you think you need to pay more or you need to pay less, you can make the necessary adjustments simply by going straight to the platform.
What BullionVault Does
Physically buying and storing gold can be an option. However, we all know that this can be quite inconvenient. You need to think about safety and security. Trading platforms such as BullionVault on their website www.bullionvault.com does the following for you:
- Stores your gold and other precious metals in a vault
- Provides live gold and silver price charts for international markets.
- Allows you to diversify investments made
- Make the payment for you
- Deliver the gold IRA straight to your home should you choose to have the physical gold
- Open doors to other traders
- Inspect the quality of gold and silver bullions
Pros and Cons
There are several trading platforms available right now over the internet. Each one has its own set of strengths and weaknesses. As a smart investor, you should know where you put your money. This is your savings account you’re talking about. Hence, you should be aware of BullionVault’s strengths and weaknesses:
- Allows investors access in gold by opening vaults in different countries.
- The company has made time to invest in web-based technology. Hence, customers take pride in the site’s functional and customer-friendly interface.
- Clients can speak to the company’s multi-lingual staff if they have questions and concerns.
- Fees are considerably low.
- Some customers have complained that it took them a while before their gold was delivered. Hence, they ended up paying for extra storage when they could have saved themselves the trouble and stored it in their very own home.
- Some large deposits have reportedly been mishandled.
- Problems came with the “BILL PAY” feature. According to some customers, the funding was very slow.
- Site failed to advertise the $4 monthly fee. This is said to be a BullionVault scam, one that has taken several people by unpleasant surprise.
- It has taken the some people 5 business days to wire the money into the BullionVault account.
The Bottom Line
While many reviews were happy with BullionVault, the complaints just go to show you that the platform still has a lot to work on. For people looking to make a safe and wise investment, the list of cons is a cause for concern.
If you want to trade in a platform that’s not only efficient, but excellent as well, go for Regal Assets. The company has been given a high rating with the BBB, and that speaks volumes when it comes to quality service. More importantly, customers who have signed up with Regal Assets can tell you that quality was never an issue.
Friendly user interface, quality bullions, and amazing service – you can’t ask for anything more with Regal Assets.
>> You can read our Full Detail Review of Regal Assets HERE.
>> You can also check out other Gold IRA companies we have reviewed.