BullionVault

Moshiheya

1-2 anni

Can you tell me what the typical spread is for EUR/USD when trading on a standard BullionVault account?

WikiFX Rispondi

As someone who has researched and evaluated many trading platforms, I have to clarify that BullionVault is designed specifically for the trading of physical precious metals—gold, silver, platinum, and palladium—and does not support the trading of currency pairs like EUR/USD. In my experience, it is essential to distinguish between platforms that are dedicated to forex trading and those that focus on physical bullion since their fee structures and product offerings differ dramatically. On BullionVault, the costs faced by clients are centered around precious metal trading commissions and storage fees, not currency pair spreads. For precious metals, BullionVault charges a tiered commission structure and applies currency conversion fees where relevant, but traditional forex spreads are not a feature of this platform. Anyone looking to trade major forex pairs like EUR/USD would need to seek out a broker offering regulated forex services rather than a bullion specialist like BullionVault. For me, the absence of forex market functionality—alongside BullionVault’s lack of regulatory oversight—means I would exercise significant caution before using BullionVault for anything outside of carefully considered and well-understood metal purchases. For traders or investors interested in the EUR/USD or other forex pairs, I believe it is prudent to consider platforms that are both regulated and tailored for foreign exchange trading.

Broker Issues

BullionVault

Fees and Spreads

09-08

Stati Uniti

Five8

1-2 anni

Does BullionVault charge a commission per lot on their ECN or raw spread accounts?

WikiFX Rispondi

Speaking from my perspective as a trader, BullionVault does not operate in the typical forex model with ECN or raw spread accounts, nor do they charge a commission “per lot” as many forex brokers do. Instead, BullionVault focuses on precious metals trading—specifically gold, silver, platinum, and palladium—delivered through their own platform and app. The commission structure is based on a percentage of the value traded, not on lots or contracts. For trades made using their order board, commissions range from a maximum of 0.5% down to 0.05%, depending on the size of the transaction, with incentives for larger trades. Trades executed at BullionVault’s “Daily Price” incur a flat 0.5% commission, plus a 0.3% fee for currency conversions. In my view, this fee model requires careful attention, as the percentage-based structure differs from the fixed per-lot costs that many traders are used to in other markets. Importantly, this also means there are no ECN or raw spread accounts in the conventional sense, and no spread markups are mentioned—just the transparent commission and storage fees. Because BullionVault is unregulated, I’m especially cautious. For me, understanding their unique fee structure and the lack of regulatory protection is essential before committing significant capital.

Broker Issues

BullionVault

Fees and Spreads

08-29

Stati Uniti

Aman A

1-2 anni

Does BullionVault impose any charges when you deposit or withdraw funds?

WikiFX Rispondi

From my experience evaluating platforms like BullionVault, I always prioritize transparency when it comes to the costs of moving money in and out. On BullionVault, deposits are done primarily via manual bank transfer, and, according to the information I reviewed on their platform, BullionVault itself does not state an explicit fee for deposits. However, one should be mindful that any involved bank—whether on your side or BullionVault’s receiving bank—may charge standard wire or conversion fees, especially for international or currency-switched transactions. When depositing in a currency that needs conversion, there’s a clear FX margin, capped at 0.5%. For me, even small currency margin charges can add up with frequent transfers, so I pay particular attention to this cost. Regarding withdrawals, BullionVault’s policy requires funds to be withdrawn to the same bank account you originally deposited from, which is a common precaution to reduce the risk of fraud. Importantly, there is no advertised withdrawal fee from BullionVault itself. Yet, just as with deposits, your receiving bank may deduct a fee, particularly for international wires. In my experience, these bank fees can sometimes be unexpected if you’re not familiar with your local banking arrangements. In summary, although BullionVault does not impose its own deposit or withdrawal fees, there are practical costs like currency conversion and possible bank charges that I always factor into my trading decisions. For me, fully understanding these indirect costs has proven vital to avoiding surprises when moving funds into or out of any trading platform.

Broker Issues

BullionVault

Withdrawal

Deposit

08-04

Stati Uniti

Wahab

1-2 anni

What is the usual timeframe for BullionVault to complete a withdrawal to a bank account or e-wallet?

WikiFX Rispondi

From my experience, when considering a broker like BullionVault, I always approach withdrawal timelines conservatively due to their unregulated status and the inherent risks that come with it. Based on what I know, BullionVault processes deposits and withdrawals primarily via manual bank transfers and standard currency conversion procedures, which are managed during UK business hours. While the platform offers user-friendly features and accessible customer support across several channels, there is no explicit promise of instant withdrawals or exact e-wallet settlement times. Typically with such precious metals brokers, and especially with manual processing, withdrawals to a bank account can take anywhere from one to several business days, depending on the destination bank, currency, and any compliance checks required. Because BullionVault is not overseen by a recognized financial authority, I personally would be vigilant and prepared for possible delays outside of their control, such as bank processing times or additional verification. In summary, my expectation is that standard withdrawals are completed in a few business days, but I always advise setting realistic timelines and confirming the process with their support team before relying on rapid fund transfers, especially given the platform’s unregulated nature.

Broker Issues

BullionVault

Withdrawal

Deposit

07-23

Stati Uniti