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Gold Broker, located at www.goldbroker.com, is a global precious metals dealer based in the UK. It has been in operation for the past decade, having been founded by a French investor in 2011. The company has positive customer reviews for the most part, but are they the best place to invest your precious metals?
We've taken a look at everything you should know before you make a decision.
Important: Before we move on with this review...
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History of the Company
The company was first founded in 2011 by a French investor and entrepreneur named Fabrice Drouin Ristori. He had graduated from business school in 2004 and then spent seven years working within the internet startup industry.
In 2010, the company founder sold his shares of two other companies that he had co-founded. Faced with his sudden wealth, his concern was finding a way to stably invest his assets. He wanted to keep being an entrepreneur without the struggle of constantly monitoring his own assets. Basically, he wanted his wealth to be securely held.
The company founder had begun to have an interest in gold starting in 2008. Precious metals provide stability against inflation, and they also have protection against economic instability. But he quickly discovered that to get the most out of a gold investment, he would need to have it properly stored.
He went through the process of trial and error when it came to investing. Some of the things he learned were:
The founder then came to the conclusion that it was vital to own actual precious metals, as well as to have them stored outside of his country of residence. This would ensure that his wealth was backed up with tangible assets, and it would also keep him from potentially losing his assets to government seizure.
Gold Broker was then founded as a way for people like the company founder to invest in precious metals and protect their assets against economic instability.
The year after being founded, an extremely experienced precious metals specialist called Egon Von Greyerz joined the company. He became part of the company's advisory board, and his experience in the industry was used to expand the company's offerings and services.
The company quickly expanded to operate in a number of different countries. It did change its name in France in 2019. Customers in France work with the OR.FR brand.
The move to London happened in 2020, when the company decided to move to be closer to London's precious metals industry. London is one of the top cities in the world for gold trading. Today, the company offers its services to Spanish, German, French, and English speakers.
Gold Broker is perhaps best known for its unique storage setup. They want customers to have full control of their assets, so you have total control over your vault holdings. Whenever you want to liquidate your metals or add to your account, you can do so with ease.
The goal is to remove the risks of custodianship. You are the only person who can access your account, and you don't need to worry that anything will happen to your precious metals. All of your account contents are insured for their full market value.
The company's storage partner is Malca-Amit. Malca-Amit is a private storage company that is not tied to any central banks or financial institutions. It has been part of the industry since 1963. The depositories are located in various areas around the world, and they even have specific services available to those who invest in precious metals.
You will have your choice of vaults located in the United States, Canada, Singapore, or Switzerland. Each of these places has its own advantages and disadvantages. Singapore and Switzerland are both well-known for being neutral tax havens for investors who want to securely store their assets.
Added Positives of the Storage
When you work with Gold Broker's storage company, you will be given a certificate of ownership of your gold bars. This certificate guarantees that your precious metals are real and being held in your name. It is not possible for storage companies to issue certificates of ownership unless they have the physical assets to back them up.
You also have direct vault access. As long as you create an appointment at least two days in advance, you can arrive at the precious metals vault and look at your holdings. It's also possible to make withdrawals in person. You don't even need to be overseen by a company employee to manage your holdings.
There are also many security measures put in place. The vaults are physically surveilled, plus there are state-of-the-art alarms and technology. CCTV coverage is monitored 24/7. If anything goes wrong, like a fire or a natural disaster, alarms will go off to ensure that your metals are protected.
Gold Broker is not the only company that allows you to purchase and hold physical precious metals. They are appealing to international consumers due to their focus on autonomy, though.
One hesitation that people have with regards to precious metals is the process of liquidating them. It can be difficult to find a buyer. That's why Gold Broker offers a buyback program. If you purchase precious metals from them, you can have the company buy them back at the market value.
The buyback program is done using the stored metals in the Malca-Amit vault of your choice. Usually, the process takes less than 48 hours to go through.
There are simple steps to taking advantage of this program. First, you'll access your account's messaging system. This allows you to send secure messages to the company. You'll create a "sell order," which explains what parts of your holdings you want to sell.
Once the company receives this order, you will be sent a contract. Signing this contract will give the company control over the holdings in question. They will then be removed from your vault and put back into the company's inventory.
As soon as this process is finished, the company will use a wire transfer to send the funds to your bank account. You will receive a resale price that is based around the spot price. This will be calculated when the transaction happens. Unlike other companies, there is no "lock in" for the price.
This can be a good thing if the price goes up. But if the price of precious metals goes down before the transaction happens, you might end up with a lower amount than you expected. Other companies lock the transaction price during the negotiation process, so you're never surprised by exactly how much you end up getting.
Though the lack of lock-in pricing is a possible drawback, there have been very few customer complaints about the buyback process. The company really does seem to make it easy and convenient to do.
Is Gold Broker a Scam?
Gold Broker is not a scam. It is an international company that was founded in 2011, and it has garnered positive customer reviews over the past decade of work. The company headquarters is located in London. They have 4.8 out of 5 stars with Trustpilot, and they seem to be a solid investment broker.
That said, this company might not be the best one to invest with. It really depends upon your needs and desires. Since they are based in the UK, they may not be the best if you're looking for gold IRA investments. They also don't tend to deal with platinum or palladium, so they're best for those interested only in gold and silver.
Another potential drawback is the transparency. The company has not provided a lot of information about their commission prices or markups, so it's difficult to determine whether you'll get a fair deal. You also can't find statistics regarding the company's exact inventory or the inventory of their business partners.
But their many international depository options are a strength. Some people might be interested in the company based on these alone. So it's really up to you on whether or not you want to invest.
Pros & Cons of Gold Broker
Gold Broker is a legitimate business that sells precious metals to people all over the world. You can choose from a variety of gold and silver products. Based in the UK, this company has garnered largely positive customer reviews across third party platforms.
However, there are some potential drawbacks. If you're a US investor who wants to purchase metals for a gold IRA, it's better to look elsewhere. There are US companies that specialize more heavily in this type of purchase. Additionally, you should research your quoted prices to make sure you're getting a good deal.
Overall, we believe that there is a better option when it comes to your investment.
The above company is our top recommendation after doing extensive research. Feel free to keep doing your own research, or you can visit Gold Broker below!