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How to Trade on BullionVault

BullionVault is the world’s biggest online investment precious metals trading platform, allowing private investors and companies access to the professional bullion markets. BullionVault has over 60,000 active users and manages $2 billion in client gold and silver holdings.

BullionVault securely stores client gold and silver in professional vaults, as a result, the custody fee covering storage and insurance is relatively affordable.

BullionVault gives its clients the opportunity to buy gold and silver at the standard London Prices published on the London Bullion Market Association (LBMA) website.

Opening an account

Opening a BullionVault account is free and only takes a short time. You can start a BullionVault account and make gold or silver purchases in less than 10 minutes.

You only require a few simple details to open an account with Bullionvault. Upon opening an account you will receive 4 grams of silver and a small amount of cash to let you try out the trading platform. You will see this on your balance.

The procedure

• Go to the main home screen at www.BullionVault.com (or click on the link above)

• Click on the “open account” button (top of your screen, in the middle).

• Fill in the username field. This is 6 to 12 letters and numbers without spaces. It becomes your account number. You’ll need to recall it to log into your account in future.

• Fill in the email field. BullionVault will use this to send you important communications like your monthly statements and dealing advices (whenever you deal). If you use many email addresses please enter your main one. It diminishes your safety if BullionVault cannot tell you at a trusted and used mailbox when there are things happening on your account.

• Fill in and confirm your password. This is case sensitive. You’ll need to remember it to log into your account in future.

• If BullionVault is running a promotional offer, your account may be created with a small bullion and cash balance already present. Read about our promotions here.

• Set the checkbox. You must confirm you have read, understood and agreed the Terms and Conditions. Press the “Submit” key.

What next?

You should receive an acknowledgement on screen that your account has opened. Your account is immediately operable. You should have a small account balance from one of the free offers.

You might like to start using your account immediately. Access the home page at www.BullionVault.com and press login. Then type in your username and password to commence a real BullionVault session. Any free grams and/or currency balances are immediately tradable. Check out your balance by clicking ACCOUNT and sub-menu BALANCE.

There are other details which you should consider adding to your account set up. In particular be aware of enabling your account’s ‘Burglar Alarm’ by entering your SMS enabled mobile phone number – which makes a significant contribution to your safety.

Fund Your Account

You can only trade using US Dollars, Japanese Yen, Euros and British Pounds on BullionVault.

The procedure

• Log into your account and go to the ACCOUNT > DEPOSIT page. Check that your bank country and currency are correct and change them if needed.

• You will be given all relevant bank details to help you make a bank transfer to BullionVault. Depending on your currency and bank country, you may have more than one banking options. 

• With your username as the transfer reference (sometimes referred as a memo or note), make a bank transfer to the appropriate BullionVault bank account.

• Bank account holders in the UK are allowed to make their initial deposit using a debit card. However, this deposit can’t surpass £5,000. Bank transfers are used to make successive deposits and those above £5,000. BullionVault doesn’t accept deposits made through pre-paid cards and credit cards.

• BullionVault will require you to upload a scan of your linked bank account statement for some deposits, such as those made by debit cards.

What next?

As soon as your funds are received, the bank will send BullionVault a notification through an electronic mailbox. During normal European business hours, BullionVault will check the mailbox every two hours.

You will be notified by email as soon as your funds clear. A successful debit card payment from the UK will be reflected in your account immediately. SWIFT or low-speed transfers will take about 36 hrs to clear. If your funds are not reflected in your account within these times, contact BullionVault for assistance.

Time zones will determine how long your funds take to clear. Depending on how far you are to the west, your funds may take more time to be received. However, this can end up being an advantage when it comes to sending funds.

During holidays, funds may take an extra 24hrs to clear. London bank holidays are relatively predictable, approximately the first and last Mondays in May and the last Monday in August i.e. on 25/26 December, 1 January, Easter Friday and Monday.

Validate Your Account

In order to validate your BullionVault account, you will be required to provide proof of identity along with current bank details. There are two reasons for this requirement; firstly, BullionVault is required by law to establish its clients’ identity. Secondly, it is much better when both BullionVault and you are in agreement on the reimbursement destination of your funds – for when you eventually withdraw your funds or sell your bullion.

You don’t have to validate your account before you fund it and buy gold or silver bullion. However, you should validate your account within 14 days of opening it.   

Buy and Store Bullion

Gold or silver bullion can be purchased as soon as your funds have cleared and are reflected on trading account Balance under ‘Currency’. You can purchase bullion on BullionVault’s Order Board or directly from BullionVault’s markets via the Balance page.

The perks of buying bullion with BullionVault include;  you can view your trading history trading, register for BullionVault’s Daily Update email newsletter, track the price movement of gold and silver with the price chart, read the all the recent articles in Gold News, view your balance and estimated valuation on your Balance etc.

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