adminWebsite: BullionVault.com
Company: Galmarley Limited
Office location: 2 King Street Cloisters, Clifton Walk, London, W6 0GY, UK.
Contact: Telephone: +44 (0)208 6000 130; In person, London office
Founders: Paul Tustain, Alex Edwards, Kris Jenkins
Date founded: 2003
On-line since: 2005
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Disadvantages:
After using it for few month I can tell you the disadvantages ofusing thissite for gold investing:
- You must invest big amounts of money in order to benefit from all advantages Bullion Vault offers. For example, if you invest $100 at the beginning in gold, and after a while gold price increased so you have made $130 and you decide to withdraw that amount, you take back only $100, because they charge $30 for wire transfer!!! So you wasted your time and made no money!
- Also they charge enough money for keeping your gold in the vault, so if you have small amounts of gold, after a while, you pay more than the value of your gold! Again, it is a nonsesne to keep small amounts of gold there. The best is to invest large amounts of moeny.
- Another disadvantage is that if you want to take the gold home you have to buy one bullion bar which is 12,5 kg (400 oz) and costs hege amounts of money!
However, if you invest large amounts of money in gold there are few advantages that any wise investor will take into consideration. For finding outcontinue to read this article.
Regulation:
BullionVault is regulated under English Law, registered in Great Britain, company number 4943684. Full member of The London Bullion Market Association (LBMA), who defines the standards and practices of good commercial behaviour for the entire London Bullion Market. Not regulated by the Financial Services Authority, but adopts many of the duties which have been applied by FSA to businesses.
Objective:
To create the most cost-effective, secure and accessible market in professional grade gold bullion.
Revenues come from:
Commission, custody fees, interest receipts and the difference between buying and selling prices of gold, known as the “trading turn”.
Business performance:
October 2007 financial performance, after absorbing the cost of developing French, German and Italian sites, the business was again profitable, on sales of £41.3m.
Sales for 2008:
By March 2008 active customers came from 83 countries and between them owned approximately $250m in stored bullion - approximately 7 tonnes.
Site description:
BullionVault.com is an investment web site for people to buy and sell gold bullion, which they own outright and is securely stored in professional vaults. A safe way to buy, store and sell gold bullion for those who are interested in trading gold or in taking outright ownership of pure physical gold. When customers use the bullionvault.com service to purchase gold, only the ownership of the gold changes, but it never leaves the security of a bullion vault in the UK, Switzerland or the US. On Bullion Vault one can make money from trading (like on Forex), but the most important are savings you can have in pure gold bought at good prices.
Subscription requirements:
Account validation required: send copies of ID and utility bill.
Guarantees, compensation of loss:
BullionVault maintains a compensation fund out of its commission and contributes at a rate of 10% per commission charged. The value of the compensation fund is currently capped at $4m which is a total maintained under review. The independent council for adjudicating on formal complaints has the exclusive power to distribute benefits from this fund.
Privacy:
Your trading activity and gold ownership are not reported to any authorities, anywhere in the world. To maximise your privacy you must quickly validate your account.
Payment options:
Bank wire or swift transfers only
Minimum account size:
1 gram of gold (received as bonus at subscription)
Referals:
25% share of commissions (not of the amount invested!) first level, and 6.25% share of commission on second level.
Bonus:
1 gram of pure gold
Site security:
Very secure, professional
Preview/join link:
http://www.bullionvault.com/#ROTRADEX
Or read step-by-step guide to investing in gold!
Direct link, just in case you do not want to sponsor my efforts to offer online free but valuable resources: http://www.bullionvault.com
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You must invest big amounts of money in order to benefit from all advantages Bullion Vault offers. For small amounts just doesn’t work.