What BullionVault is and who it suits
BullionVault is an online precious metals dealer from London that's been operating since 2005. When you use BullionVault, you’re buying and selling gold or silver that’s stored as allocated bullion in professional vaults located in London, Zurich, or Toronto. This means you’re dealing with metals held on your behalf in a recognized storage facility, and not in a bank account.
BullionVault tends to suit people focused on long-term savings, especially if you're comfortable owning gold or silver that's securely stored rather than held in your hand. If you’re looking to buy a few coins for your home, or you intend to trade often, you might find it less appealing. This review reflects editorial analysis, not financial advice. GoldexPay sometimes earns a commission if you use certain links, but this does not affect any rankings or recommendations.
How BullionVault's costs work
BullionVault collects a trading commission, applies a spread between its buy and sell prices, and charges a monthly storage fee for metal kept in their vault. A currency conversion can also come into play if, say, you send money in dollars but want to buy in euros or pounds.
In the world of precious metals, focusing only on the commission is not enough. The spread between buying and selling prices makes a real dent. Look at the full out-and-back cost, not just the fee highlighted on the site. For long-term savers, that ongoing storage cost matters more as time passes.
Test the comparison tool using your actual amount. The ranking above uses the mid-market price at the moment and includes every relevant fee and markup.
Speed, payment methods and storage
Once your payment is cleared and your identity confirmed, your gold or silver is credited as a same-day deal. The standard funding method is a bank transfer. For those needing speed, card payments may land faster but usually come with increased costs.
The metal is held as allocated bullion, which means a specific bar gets registered in your name. Later, you have the option to sell your holdings back into the market or, if you prefer, request the physical delivery of bars. Take note, that process has its own charges and is slower. There’s no strict upper limit published for accounts, but very large or unusual deposits may get flagged for extra checks.
Worked example: a nurse in Australia buying gold
Take an example: a nurse living in Australia decides to add a bit of gold to her savings over the long term. She has income in Australian dollars and isn't familiar with bullion investing.
After setting up her account and confirming her identity (she’ll need to upload standard documents such as a passport or driver’s license along with a payslip or utility bill), she chooses to fund with a bank transfer to keep her expenses lower than they’d be with a card. Next, she checks her specific amount against the comparison tool to see the actual gold she'd receive after all charges and the spread.
With the metal now shown in her allocated storage, a monthly storage charge starts appearing on statements. She should keep in mind: charges accumulate over time, gold prices can drop, and selling right after buying would expose her to the buy-sell spread.
Safety and regulation
BullionVault’s operations are rooted in London, and metals are kept according to London Bullion Market Association (LBMA) rules. While the LBMA’s standards govern how bullion is handled, it’s not a financial regulator. You’ll want to check which government authority, if any, oversees BullionVault specifically, the official registry can clarify their current regulatory status.
Precious metals in a professional vault are not the same as cash at a bank. Storage methods don’t shield you if gold prices fall. Any uninvested money you hold with a dealer also isn’t backed by a bank’s deposit protection scheme. Use a strong, unique password paired with two-step verification, and whenever possible, navigate to the site directly rather than using links sent via email or message.
Pros, cons and when to choose an alternative
Pros
- BullionVault’s commission on trades appears low compared to many competitors.
- Allocated bullion storage is available in vaults in London, Zurich and Toronto.
- Since 2005, it’s developed a reputation for longevity in the field.
Cons
- Storage fees add up if you keep metals for longer periods.
- Wide buy-sell spreads make short-term trades costly.
- Using a card to pay adds to your total cost versus bank transfer.
- Not suitable for those wanting to physically pick up coins or bars for home safekeeping.
If you prefer buying coins or bars delivered to your door, Holland Gold specializes in that service. For Swiss vault storage, Goldrepublic is worth looking at, too. Be sure to run a comparison for your own numbers first.