BullionVault Review – Legit Or Scam?

BullionVault ReviewHas someone approached you lately about joining BullionVault?

This doesn’t surprise me – it’s been getting a lot of hype in the last couple of week, with people pitching it all the time.

First, let me make one thing clear – I am NOT in any way affiliated with BullionVault.

I simply wanted to gather all the details here for you in my BullionVault Review so you can make an informed decision.

Is BullionVault truly a scam?

Does it really work like the marketing materials say it will?

Read on to find out in my Review of BullionVault.

Let’s get going!

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What The Heck Is BullionVault?

The parent company for BullionVault is Galmarley Limited, and Galmarley Limited is owned by BullionVault LTD.

All three of these different entities are incorporated within the United Kingdom, and each also has a physical address over in London.

BullionVault was founded way back in 2005, and it’s being run by Paul Tustain (a Chairman for the company).

Tustain has a corporate bio on BullionVault’s website, and it reads as follows:

“Sensing the more people would soon be looking to buy gold (Tustain) started planning BullionVault in 2002.

Development of BullionVault, which he funded, started in late 2003, and the BullionVault service was launched in spring 2005 supported by investment from 30 friends, family and business angels.

He was CEO from launch until 2016, during which time the business grew to become the world’s biggest online investment bullion service.”

Along with BullionVault, Tustain is also the co-founder for WhiskyInvestDirect.

WhiskeyInvestDirect hit the scene in 2015, and it’s a non-MLM entity that provides a service for investing in whisky products and brands.

When comparing WhiskyInvestDirect to BullionVault, it’s very clear that the latter of these two entities is the strongest and biggest focus for Tustain.

BullionVault Scam

What Can You Tell Me About The BullionVault Products?

Seeing as how BullionVault doesn’t have a way for distinguishing between retail customers and affiliates, it’s technically true that BullionVault doesn’t have a legit product line offering for its retail site of things.

What is being offered here is BullionVault’s “live order board.” The live order board is a system that allows affiliates for the company to trade silver, gold, and platinum with other affiliates.

As per BullionVault’s website:

“On the order board you can deal direct with other customers, cutting out the middleman.

You can buy their bullion when they want to sell, or sell to them when they want to buy.

You choose your own price and compete in the market to find a buyer or seller who will accept that price.

It’s like a stock exchange, but for pre-vaulted investment gold, silver, and platinum, not for shares.”

BullionVault’s website also shows a set of basic fees that affiliates must comply with, and these include the following:

  • A “dealing commission” that ranges from 0.05% up to 0.5% that’s enacted every single time someone buys or sells via the BullionVault order board
  • A storage and insurance charge that costs 0.12%/year for gold and 0.48%/year for platinum and silver (this is billed to affiliates on a monthly basis)
  • Various fund wire fees that average out to around $30 (also described as a UK withdrawals fee)

What Can You Tell Me About The BullionVault Compensation Plan?

When it comes to the compensation plan, transaction fees that affiliates pay are actually commissionable.

BullionVault affiliates earn commissions as a percentage of the fees that are generated/paid through trading activity that takes place by someone you’ve referred into the company.

A rate of 25% is paid to you on affiliates you’ve personally recruited into BullionVault and 6.25% is paid when your personally recruited affiliates get their own recruits to partake in trading activity.

Are There Membership Fees For BullionVault?

If you would like to join BullionVault, doing so is completely free.

Is BullionVault A Scam?

If you’ve come across a review that says BullionVault is a scam while researching, I wouldn’t be surprised.

A lot of marketers will tell you something is a scam just so they can sell you something else.

So, can you trust those other reviews?

What is the truth about BullionVault? Is it really a scam, or is it legit?

I would say no, not exactly. However, there are a few things in the business you should be aware of – read on to the conclusion to find out what they are.

Knowing what you’re getting into is the best way to be successful.

See below for my FREE training that will help you make money!

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What’s your Conclusion About BullionVault?

Looking at BullionVault, this is a somewhat difficult opportunity to review.

The first and foremost focus for the company clearly appears to be with the precious metals marketplace side of things, and the MLM opportunity is sort of on the back burner.

According to BullionVault, the company sees $100 million worth of gold and silver that’s traded on a monthly basis, has $2 billion of assets for its clients, and currently has more than 65,000 of these clients spread out across 175 different countries.

If you look at BullionVault as an MLM entity, 100% of all its clients are technically affiliates.

As such, all of the revenue that the company is making is coming from said affiliates.

When you put things this way, BullionVault operates as a pyramid scheme.

Looking more closely at the live order board that BullionVault is offering its members:

“‘Robots’ are computer programs which receive an electronic price feed and use it to quote prices on the bullionVault Order Board in just the same way as you and other clients do.

Ours manage BullionVault’s own $40 million inventory.

Robots are subject to the same limitations as you, which means they can only sell what they already own physically in the vault, or buy with their cleared cash balance.

You buy from them, or sell to them, just like you would directly with another client, but only while they offer a better price. It’s as simple as that.

Sometimes, like on the day Lehman Brothers went bust, clients acquire all the immediately available stock from our robots.

Although we immediately buy new stock to replace what was sold it takes 48 hours to be delivered, and because the gold is not yet in the vault the robots have no stock to sell.”

The main goal for the order board is to buy gold, silver, and platinum low and then sell it for a profit.

The existence of these robots makes it much more difficult for a human to stay on top of things and really be successful here, so this could be a big deterrent from the average person who might be slightly interested in what BullionVault is bringing to the table.

BullionVault does set a two-year cap on commissions that affiliates can earn from their referred customers, and if you’re looking to really make some money here, that could result in a major turn off from the company.

Combine this with the fact that BullionVault doesn’t have any distinction between affiliates and retail customers, and you end up with a somewhat shaky setup.

BullionVault may be wroth checking out if you’re into this sort of thing, but either way, I suggest looking at and approaching this one with a bit of caution.

I hope that you are able to use my research in my BullionVault Review to make a decision.

If you do decide to become an affiliate with BullionVault, make sure you take the time to learn how to market yourself.

My FREE training can help you.

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