Today we review Bullionstar for you. What is Bullionstar? A good dealer or not? Do their services suit your needs? Are there better alternatives for you? This are some of the questions we will help you answer!
Website: www.bullionstar.com (You get 10 grams free silver when you sign up)
Owner: Torgny Persson (CEO and Founder)
Price: Depends on your investment
Who is it for: Precious metals investors
Overall rating: (4.5 / 5)
Important to mention before we go into more details of this review:
We always strongly recommend doing your research online before you choose a company to invest with. There are so many reviews online of clients being ripped off and scammed. The most common way people are getting scammed is through so-called “hidden-fees” so please investigate thoroughly before you make your decision.
With that being said, let´s continue with the review on Bullionstar!
What is Bullionstar? – overview
Bullion star is the organization responsible for both Singapore’s and international savers’ precious metals. It is based in Singapore and has earned a good reputation as the best place to buy and store gold and other precious metals. Singapore offers a great environment for the business. With no taxes, no reporting requirements, a protected environment, and political stability, it is the ideal place for purchasing and storing your precious metals.
It serves as both as an international and local company by allowing both local and international investors alike. The customers are allowed to track their precious metals efficiently online without any limitations. The customer care agents are available for instant contact and response 24/7.
The physical address of the company is: 45 New Bridge Rd, Singapore 059398
Its unique one-stop design allows it to cater for all precious metals. Here, you can shop, purchase, deposit, store, audit, sell, and withdraw your solutions for all the precious metal needs.
How does it work?
Most of the customers give high ratings of the company after operating thousands of satisfied customers. They have earned trust from the customers because of the consistency involved. For example, the company uses 5 different audit techniques to enhance customer transparency. This means it is easy to verify the existence of the stored bullion. Customers can gain confidence that BullionStar is committed to provide verification and ensure security and confidentiality as much as possible.
It is a fully audited Singaporean company fully registered and legit. It only deals with physical precious metals or products backed up by physical precious metals. The customers can access their property and retain full direct and legal ownership of their stored bullion products.
Products and services offered; do they offer IRAs?
BullionStar is committed to helping customers make informed and reasonable investments for their future. Although most available gold and silver here is 99.9% pure, only a part of the coins and rounds are included in IRA accounts.
This is because precious metal IRA accounts are controlled by rigorous criteria, which dictate the forms of bullion acceptable. The tax relief laws are strict but offer avenues for tax credits for citizens. They retired individuals can put away funds, bonds, or bullion into accounts designed for retirement savings.
There are specific regulations, which hold users responsible for their actions. Every bullion has varying conditions for customers with different standards and specifications. For example;
IRA bullion cannot be preserved in personal deposit boxes or home safes. They must come and the supervision of approved custodians with metal depository authority
Precious metal bullion must meet fineness requirements to be included
In case one already has bullion when opening IRA, the billion is not eligible for inclusion. In this case, they must buy the bullion after opening the IRA or transfer the bullion from other IRA accounts
US IRAs (Individual Retirement Accounts) are the best way to provide saving for retirement. Anyone with a taxable income can open the account. Luckily, it is tax-incentivized so that it can be funded from pre-tax income.
Self-directed IRA is the most flexible structure to facilitate investment into a wide variety of assets.
Precious metals are, therefore, one of the best ways to accumulate assets while retaining tax benefits. Precious metals IRA have become common and more popular today.
To be eligible for BullionStar sales, one must have a custodian account such as self-directed custodial IRA. IRA Club is the partner responsible for self-directed custodial IRA accounts.
You may also roll over from another pension plan such as 401k.
There is no clear info on this subject on the Bullionstar website, so you are going to have to dig deeper here and most likely look at their custodian IRA Club for this info.
We always strongly recommend that you are 100% clear on what fees are associated with an IRA and that you are perfectly clear on what exactly you have to pay before you sign anything. 100% transparency is what you are looking after here, as most of the scams and rip-offs in this industry take place with the so-called hidden fees.
You do not want any “surprise” after you have signed legal documents that put you in a situation to have to pay for a whole lot more than you thought from the beginning.
==> Click here to read about our#1 recommended IRA custodian instead (100% transparent)
P.S. Only for U.S. citizens
Can you get the metals delivered home?
BullionStar is committed to integrity through confidentiality and will respond to every request from the customer. So yes, you can get the metals delivered to the safety of your home although this is not recommendable. The need for confidentiality and safety of the precious metal is taken seriously.
Since the purchases are tax-free from Singapore, there is a minimal fee involved in the shipment.
Can you store with the company?
BullionStar is one of the best places to store your precious metals. It has the best environment, which supports storage in safety.
The tax exemption and political stability contribute to making BullionStar one of the most secure places with utmost profits to save your gold, silver, and platinum as well as devices coated with these precious metals.
The competitive prices give the company a huge advantage over other rivals at home and in other countries. For this reason, it has attracted many partners from around the world.
Can you sell back to the company?
Selling back to the company is allowed. This is a great idea to liquefy your precious metals in case you need to give up some of them according to your preferences and choices. They will earn your trust with their integrity and openness you will not rethink about selling back to them.
Most customers are loyal enough to sell back to the company because of the support and transparency over the years, which result in trust and confidence. There are programs, which allow customers to sell back to the company without much of a hassle or time wasting involved.
Promptness is one of the qualities, which make the company an appropriate platform to sell your precious metals.
What countries are allowed (International shipping)?
Shipping is possible in a few selected countries after expansion.
They include USA, Canada, Mexico, UK, Germany, Denmark, Finland, Luxembourg, Monaco, Portugal, Spain, and Sweden. Apart from Singapore, other non-European countries include Hong Kong, Japan, Malaysia, Mexico, New Zealand, UAE, and Australia.
Bullionstar complaints, reviews, and ratings
Something that is always wise (and recommended to do when looking at a particular company (in this case Bullionstar) is to look at what the most well-known and trusted review and rating sites have to say, and what rating they have given. As always in our reviews we provide you with their results (with clickable links) to make this task easier for you:
Rating: (4.8 / 5) (out of 996 reviews)
Rating: (4.7 / 5) (out of 962 reviews) click here for details (opens in new window)
The conclusion from this:
Well, as you clearly can see there is nothing to be found from the BBB, Trustlink or Yelp. I didn´t even find any reviews and ratings at all online from their clients. It doesn´t have to mean anything bad, however, it could be a warning sign.
I have to say I find this a bit strange, especially when most of its peers got a lot of reviews available from the most well-known and trusted sites, and most importantly accredited by the BBB.
Sure they got reviews on Google and on their own Facebook page, and not all of them are positive even if the majority is.
**This one, for example, got hundreds of reviews (and from most 3rd party consumer protection agencies in the industry)
Do You Own or Represent Bullionstar?
If you are a representative, or associate of Bullionstar and have found something not to be correct in this review please, feel free to tell and we will make sure to update the info on this post. The easiest way to do it is in the comment section below or else you got the e-mail on the about page.
Final words and verdict
Overall rating: (4.5 / 5)
Ok, I think that sums up the overall view of this company pretty good, my only concern is that there is no reviews and ratings to be found on them from real clients on the most well-known rating and review sites, but only from Google and their own Facebook page.
That is also the reason why I cannot give a higher rating than a 4,5 star at the moment, as I always put a lot of weight on that. Don´t get me wrong, 4,5 is a great rating, however, I would want to give a higher one as I think Bullionstar seems like a top company to do business with, however, I have to stick to the parameters I always do.
In short, it seems like a great alternative, with some obvious benefits, that I have explained further up in this review.
The fact that you can even pay with Bitcoin and other cryptocurrencies is also something I like.
What I would recommend?
First of all, it is important to review and compare different alternatives against each other before you make a final decision.
You made a wise decision to read this review and you are a smart person. I am absolutely sure that you will find the right company for you to make your precious metal investment with.
Below is the one I would absolutely recommend you to look at as well:
P.S. Only for U.S. clients
I hope you found this review on Bullionstat to be helpful and now you should have a better understanding of what it is and if it might be a good alternative for you. If you have used any o their services then please share your experience in the comment section below as it can help others! Also, if you got any questions about this review I will be more than happy to answer them below!
I wish you the best!
Founder of: Gold Retired
- Many positive reviews
- Great silver dealer
- Tax benefits
- Informative website
- IRA fees not displayed on their website