BullionVault is a multifaceted platform that is claiming to be a leading platform for the exchange of gold, silver, and platinum. According to BullionVault.com, the company is operating since 2005 and has helped thousands of people all over the world. It is important to review this company because it is much more than just a marketplace exchange. Instead, there are several aspects of the company that seems highly suspicious.
Keep reading this article to get all of the required information about this company and make your mind whether you should invest in it.
Overview of BullionVault
BullionVault is claiming to be the largest gold investment online services. It promises private investors to provide access to global bullion markets. Moreover, BullionVault.com is claiming to have a worth of around $3 billion and managing 90,000 members. There are numerous features of the company like providing the lowest storage costs in the market and allowing members to sell or buy whenever they want.
Founders of BullionVault
Galmarley Limited is the company behind BullionVault.com Both of these organizations have physical offices in London, UK. The company has been running since 2005 and Paul Tustain is the chairman of the company. According to Tustain’s profile, he was working in the banking sector before establishing this new company. He came up with this idea in 2002 when he though that more and more people are becoming interested in purchasing gold.
The website, BullionVault.com, claims that Paul Tustain was the CEO of the company from its launch to 2016. During this time, he made this platform to be the world’s largest online investment service. However, these kinds of claims are simply untrue. There is no indication that BullionVault is the leader of the bullion industry in any way.
In fact, there is no external evidence available that indicates that this company has the required knowledge, skills, and experience to become a dominant force in this highly competitive industry.
Products and Services
BullionVault.com essentially does not offer any retail products or services. The entire business model revolves around connecting the affiliates with each other and offering trading services. The company is claiming to run a live order board service through which you can connect with affiliates from all over the world. The purpose of getting in touch with different affiliates or traders is to earn profits by trading gold, silver, and platinum.
The company is enticing the users to use its platform for trading because it cuts out the need for a middleman. Instead, you can deal with the customers directly. However, this is is not completely true. Despite the fact that you are contacting the customers directly, but the site itself will be acting as some sort of middleman.
Another feature of the BullionVault online trading is that the users get to select their own cost of the products and compete in the real markets to find suitable buyers or sellers. It shows that you can think of this company as a stock exchange that has a pre-determined price of the gold, silver, and platinum, and not shares.
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Charges of BullionVault
BullionVault provides very ambiguous information about the amount of the fee it charges on different transactions.
- BullionVault.com is charging a standard dealing commission of between 0.05% to 0.5% on every product that you buy or sell through its platform.
- Insurance and storage annual charges of about 0.12% are also charged for gold. Similarly, a 0.48% fee is charged for silver and platinum,
- The website does not give any clear information about fund wire fees. However, it indicates that the users have to pay an average amount of $30.
- Other charges of withdrawing and transferring the funds are also charged/
- storage and insurance charges of 0.12% per year for gold and 0.48% per year for silver and platinum (billed monthly)
- fund wire fees of around $30 on average (UK withdrawals free)
- BullionVault also charges fees for withdrawing or moving stored metals obtained through the live order board.
These charges show that the company is charging a significant amount of money from the members. You cannot expect to earn any significant amount of profits from such a platform. Therefore, it is much better if you avoid investing in any kind of resource on this platform. Instead, you should use the crypto trading bots because these bots are fully trustable. You can earn a good amount of profits by relying on the efficient services of these crypto trading bots.
The analysis of BullionVault.com by Alexa shows that Azerbaijan (27%) is contributing to the highest amount of traffic to the website. It is quite surprising as the company does not have any official physical operations in Azerbaijan. Moreover, the USA (17%) and Canada (10%) are also contributing to a significant amount of traffic. Despite the fact that the company is also offering to trade silver and platinum, the analysis makes it quite evident that it is primarily targeting the gold market.
BullionVault tries its best to seem like a genuine platform that will help you in making money. Yet, the company is making some very tall claims which are quite impossible to believe. First of all, it is trying to present itself as some kind of leader in the market. Even if the company is operating for many years, it has not been able to achieve much success and popularity. Therefore, users should not take their claims of being a leader in the bullion industry too seriously.
Furthermore, the company heavily advertises its feature of allowing users to trade in their own currencies. Yet, there is no further information about the method through which the actual distribution of the funds takes place. It makes it difficult to even believe that users will get any kind of profit. Despite the company’s missing of making the bullion industry accessible to every, it is still charging a significant amount of fees which makes it difficult for a lot of people to actually participate in this kind of trading. The features promised by the company are highly suspicious because there is no external proof about the authenticity of any of these products and services.
It would not be wrong to say that the business model of the BullionVault is the combination of an online marketplace and an MLM company. The primary target of the company is to attract people towards its marketplace for trading gold, silver, and platinum. It is claiming to have $100 million of gold and silver and $2 billion of assets. However, none of these statistics can be verified by any external authority.
It is highly possible that the only source of revenue of this company is the fees it is charging upon different kinds of transactions. This kind of business model cannot survive for a long period of time due to a lack of members and transactions, the company can collapse anytime soon. As a result, you should avoid investing your money in BullionVault.com because there is a very high chance that you will end up losing your money.
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