Welcome to my Goldmoney Review!
As investors, we would always want to ensure that we are investing with trusted and excellent investment firms.
However, we have a lot of options to choose from and most of them always claim that they are the best in the industry.
One way to find out which one is perfect for you, is through reviewing them. In this review, we are going to go through one of these companies, Goldmoney.
Is it legit and worth it? Or is Goldmoney a scam? We shall answer all of these questions in this Goldmoney Review. Let’s get started!
Goldmoney Review Quick Summary
Founders: James Turk, Joshua Crumb and Roy Sebag
Price: Depends on your investment
Rating: (3 / 5)
What is Goldmoney?
We shall begin this Goldmoney Review with a brief background information and let’s get to know it.
Goldmoney is a precious metals dealer and investment company. It started in 2001 and in 2015, a gold payment technology company, BitGold formed a partnership with Goldmoney.
BitGold was founded by Joshua Crumb and Roy Sebag.
Goldmoney provides its clients with precious metals for their investments. Moreover, it has other services in which clients can avail to secure and expand their investments. We shall go over them in the next section.
Goldmoney Products and Services
Goldmoney has a unique system of providing products and services. It has the Goldmoney Holding system or platform that makes it a lot easier for clients to do business and investments with Goldmoney.
You can see the features of the holding in the picture below. Anyone can open a holding, even joint owners, trusts and corporations.
Apart from this, Goldmoney provides its clients with essential Metal Transfers and Business tools to help them run their businesses and international transfers smoothly and easily.
Goldmoney Holding owners have the ability to purchase these Goldmoney precious metals:
The minimum investment allowed is 1 gram of gold. If ever clients opt to have their precious metals stored with Goldmoney, they can choose between 6 vault locations: Hong Kong, London (United Kingdom), Singapore, Toronto (Canada), Ottawa (Canada) and Zurich (Switzerland).
As time passes by, Goldmoney will expand its locations. It also offers IRA accounts (just like Goldco), SIPP and TFSA.
Moreover, Goldmoney aims to educate children as early as possible regarding managing and experiencing investments. That is why it has the Goldmoney Kids program.
Personally, I salute Goldmoney for having this kind of helpful program. It is not common for an investment company or firm to give importance to this matter.
If you visit the Goldmoney website, you will see that there are live price charts and market updates which are very accommodating and beneficial to its investors. Overall, Goldmoney has various services which can really make it as a full-service precious metals company.
How does Goldmoney work?
Even though Goldmoney has a lot of services and products, the people behind it made sure that the process, as well as the system, are easy to access and navigate.
With that, to be able to join Goldmoney, you need to open a Holding account. You can start the process here.
After you have your account, you can start sending funds. Moreover, you can also purchase precious metals online.
Goldmoney values transparency. That is why it disclosed its rates and fees on its website. Here are the fees.
- Buy and Sell Precious Metals (Market) – 0.5%
- Buy and Sell Precious Metals (Limit) – 1%
- Precious Metal Exchange Fees – 0.75%
- Vault Exchange Fees – 0.75%
- Currency Exchange Fees – 0.5%
- Monthly Precious Metal Storage Fees
- Gold – 0.01% – 0.018%
- Silver – 0.033% – 0.041%
- Platinum – 0.03% – 0.049%
- Palladium – 0.065% – 0.082%
You can check out more of the rates and fees right here.
Goldmoney Referral Program
I also found out in the Goldmoney website that it has a referral program. Basically, it is a chance for you to earn money. It is simple.
You just need to refer Goldmoney to people, friends or family. When they do business with Goldmoney, you will earn commissions up to 25%! Below is the process of joining the Goldmoney Referral Program.
Is Goldmoney a scam? Is it safe?
Goldmoney is not a scam. It has been serving investors and clients for years already. Moreover, it provides legit products and excellent services.
As for its security and safety, Goldmoney uses Loomis, Rhenus, Brinks, G4S, Royal Canadian Mint and Malca-Amit as vault operators.
Moreover, Goldmoney claims that it has strict and a wide range of policies and processes, ensuring the safety of its clients’ investments.
Ratings and Reviews
Up to this point, Goldmoney may sound like the best precious metals firm. However, in my reviews, I don’t just settle with their websites and claims.
I make sure that I can check what other people and past clients say about the firm. So below are the ratings of Goldmoney in various rating websites.
As you can see, Goldmoney received low ratings. Moreover, in BBB, it has a C rating, which is actually low for a firm that has been around for quite some time.
A lot of customers shared their negative experiences online. In fact, others highly do not recommend Goldmoney.
Most of them complained about how unresponsive and obnoxious the Goldmoney supports and representatives are.
Also, fees tend to be increasing and are taken from the clients’ accounts without giving notice, according to some people.
This alone is a huge concern regarding Goldmoney. Is it the best? Will you trust it? Well, the chances of it being the answer to those questions are very low.
Pros and Cons
- Wide range of products and services
- Referral Program
- Information about fees are disclosed
- Has been operating for years
- It has a lot of negative reviews and complaints
- Low ratings
- Customer service is bad
Let’s conclude this Goldmoney Review with my final verdict. Is it really the best firm for you? Well, according to a lot of past clients and customers who experienced investing in Goldmoney, you should avoid it.
Personally, even though it sounds good with its claims, products and services, I always put the reviews of other people above. It is because they already experienced being with the firm. And based on my research, a lot of them did not like it.
Thank you so much for reading my Goldmoney Review! If you have any comments, questions or experiences with Goldmoney that you would like to share, feel free to leave them in the comments section below!
Check out other reviews here!
Top Recommended Precious Metals Firm!
In the end, it will always be your decision. Will you give Goldmoney a try or not?
If not, you can always try out the top recommended precious metals firm today, which is Augusta Precious Metals. It has excellent services and products. Moreover, it is well-known in the industry and even received a lot of rewards.
Thank you for reading,
You can check out any time you like, but you can never leave. That’s goldmoney for you. They are OK untill you want to take your money out. And when you do, they show you hell. My money is locked for months and there’s no one to talk to.
Hi there, first of all thank you for your comment.
It sounds pretty bad, do they not answering the phone?
Thank you again for sharing your experience, it can help other make better decisions.