Last Updated on March 7, 2023 by George
Disclaimer: If you use products or services based on our expert recommendations, we may receive a commission from the links in this post. Please take some time to read our Advertising Disclosure for more information.
Planning your investing journey depends on a variety of essential factors. But ultimately, it all comes down to your final investments and the investment business you choose.
Providing for your present and future financial security should be easy if you get these two fundamental components properly. You must collaborate with the ideal investing company if you want to consistently increase your wealth and produce returns that are inflation-averse.
That’s where the actual mess is. Many, but only a small number, have a solid history of profitable transactions. However, you hardly ever hear a corporation sully its reputation by emphasizing its flaws.
Instead, they will constantly exaggerate their skill at the game to ensure that their hard-earned money goes straight into their pockets. Independent company reviews are helpful for an investor concerned with getting a good deal.
An investing company called Goldmoney specializes in wealth management and precious metals. Its main office is in Toronto, Canada, and it was formed in 2001 by Roy Sebag, James Turk, and Joshua Dale Crumb.
Goldmoney, which BitGold purchased in 2015, enables digital gold payments while protecting investors’ savings.
With the express purpose of providing investors with simple access to a safe, open, and reasonable channel for buying, selling, and vaulting various precious metals, Goldmoney Holding was founded. The company does more than invest and store money; it also routinely checks its clients’ holdings.
Goldmoney Management
- Roy Sebag, the founder, CEO, and one of the company’s top directors is in charge of Goldmoney. He is seated next to James Turk, the co-founder and former chairman of Goldmoney, who retired in 2013.
- Mahendra Naik (CPA), Stefan Wieler, and Andres Finkielsztain are three other equally qualified board members for the investment company. The remaining executive team members are:
- CEO of technology is Alessandro Premoli.
- Director of operations Paul Mennega
- Officer in charge of design, Mike Busby
- Research chief Alasdair Macleod
- Global communications director Renee Wei
Products and Services
Goldmoney uses a straightforward and effective investment strategy. Thanks to its extensive Holding system, investors may navigate the platform quickly and reliably chart their investment trends.
The Goldmoney Holding method has been created specifically to help investors with wealth protection and precious metal investment. This platform lets customers quickly buy, trade, keep, or vault precious metals online.
You can invest in several precious metals, such as gold, silver, platinum, and palladium, when you join Goldmoney Holding. Your precious metals are housed in various vaults in particular nations and are wholly guaranteed when managed through the Holding system.
You can store your precious metals in Toronto, Hong Kong, London, Singapore, or Ottawa. Despite this, Goldmoney may provide more vaulting places soon.
Along with providing storage, Goldmoney also conducts routine audits of all of your metal holdings, with the findings being made available in the Holding system. Additionally, you have access to TFSA, SIPP, and IRA investing opportunities.
Goldmoney lets you take physical ownership of bullion bars and coins made of precious metals at various vaults if you prefer offline transactions. As an alternative, they can be delivered directly to you.
The company additionally offers some personalized pension packages to safeguard your investment over the long term.
As soon as you open a holding account with Goldmoney, a dedicated Relationship Manager is assigned to you, with whom you can easily communicate online through your Holding Dashboard.
This will improve customer service and ensure your investment process runs as smoothly as possible.
You can trade your precious metals for up to nine different currencies using the Goldmoney Holding system, including:
- USD
- GBP
- EUR
- CAD
- CHF
- JPY
- NZD
- HKD
- AUD
Goldmoney provides holdings for individuals, joint owners, businesses, and trusts in terms of investment freedom.
Their easy-to-use website informs you of the most recent changes and developments in stock prices so you can efficiently track your holdings.
Goldmoney Insights
Frequently updated Goldmoney highly values investor information. You can always find the most recent developments in the investment sector on their insights website, and there is always something fresh to learn when you visit this website.
The more informed you are about the factors that could impact your finances, the more clarity you will have regarding the best course of action.
Furthermore, armed with in-depth knowledge of issues like inflation, interest rate fluctuations, currency variations, shifts in investment strategy, precious metal prospects, money supply dynamics, and GDP, you can consult with your Relationship Manager with confidence and come to mutually agreeable solutions for increasing, multiplying, or diversifying your investments.
Library
Accessing the Goldmoney Library is akin to gaining access to vast information pertinent to your investment path.
You can access books and whitepapers from various authors and industry experts in the library.
As a result, this gives you a reliable foundation upon which to build your investment expertise and overall strategy.
You can anticipate interacting with cutting-edge articles and research papers in the library that provide in-depth industry insights, such as:
- The Science of Precious Metals and Gold
- The amount of fiat money (FMQ)
- Gibson’s Paradox The struggle between Mises and monetary socialism
- An examination of Bank of England gold in detail
- A Stock in Aboveground Gold
- Future of the Internet and Gold
This is only the beginning of the Goldmoney Library’s comprehensive information base.
Depending on your investment interests, you can consume a wide range of forward-looking content to become a more knowledgeable and active precious metal investor.
Safety & Transparency
The security of your hard-earned money is your top priority as an investor. Even Goldmoney itself can grasp that.
They have made significant investments in the appropriate safeguards as a publicly traded financial technology company to ensure safety and transparency throughout your investment experience with them.
Some of the actions taken include:
- Protection against counterparty risk: This safeguards you against bank or brokerage failure.
- 100% ownership of the metal (totally reserved): You now have full ownership rights over your precious metals. It’s like having physical access to the metal but using the internet to access it, which is safer in a secured vault. Additionally, you can exchange your metal for cash whenever you need it.
- A safe and insured storage facility: When you register the precious metal in your name, no one, not even Goldmoney, can claim it because it is fully allocated. Additionally, every storage vault spread across many locations is safe and completely insured.
- Periodic audits of customer holdings conducted by a third party.
- Metal testing and quality.
- Special requirements for online security.
Information for New Clients
Gaining a clear understanding of the fundamentals will lay a solid basis for your connection with the investment company and your future success as a Goldmoney investor.
With time, you’ll be in a better position to safeguard your spending power while reducing financial risk. Investing in precious metals can help ensure steady wealth growth and financial stability.
For example, gold has existed long enough to have amassed unparalleled value in trade. Over the years, it has effectively maintained its purchasing power and is still quite helpful today.
Precious metals have a distinct advantage over other kinds of money or currency because of their exceptional capacity to hold priceless value over an extended time.
The more precious metal you gather, the longer your purchasing power will last. Maintaining your purchasing power requires holding money with a long-term value.
Holding currency that increases in value both short- and long-term quicker than most other currencies is an additional strategy. Therefore, precious metals are an excellent investment if you want to maintain your purchasing power over the long term.
To start your trip safely, Goldmoney offers to provide you with a 24/7 accessible investment platform.
Goldmoney Fees
Goldmoney always strives to provide as much transparency as possible when you acquire precious metals from them. Their website provides access to their affordable dealing rates and storage costs.
Given that, the following is what you may anticipate giving up:
- Fee for buying and selling precious metals at market price (0.5%)
- Limit order buys and trade costs for precious metals are one percent.
- (0.75%) Exchange charge for precious metal
- Exchange charge for unique metal vaults (0.75%)
- Monthly precious metal storage charge (varies according to metal)
- Fee for account funding (free)
- Fee for account withdrawal (charged to the bank account)
- Cost for metal bar registration (varies according to the metal with a minimum of 1 ounce)
- Physical possession fee (only charged to those who own at least 1 kilogram of gold or 1,000 ounces of silver)
- Coins and bar deliveries made in person (free)
Goldmoney Reviews
With Goldmoney’s promises pointing to an effective, reliable, and trustworthy investing organization, you should use a second set of lenses to ensure they are true to their word.
Let’s look at some of the evaluations and rankings the company has earned from various sources so you can make an informed decision.
Trustpilot
Goldmoney now has 1,902 ratings on Trustpilot, with an overall star rating of 2.4 out of 5. That is similar to being in the bottom half of the scale or “poor.”
This shows a nearly 60/40 possibility that you will have both a bad experience and a good experience.
Better Business Bureau (BBB)
Even though Goldmoney has a BBB A rating, it is not BBB accredited. To a new client, this can serve as a caution.
Additionally, the investment firm has received some complaints over the past couple of years, which shows a concerning tendency for such an established company. It gets an average rating of 1.2 stars out of 5 from customers.
Ripoff Report
Only seven complaints have been made about Goldmoney on the Ripoff Report website, with the most recent appearing in the middle of 2019. The pause could indicate a complete improvement in service delivery or a significant decline in clientele.
Moving on to customer feedback, Goldmoney has received both favorable and unfavorable comments. According to Trustpilot, the percentage of good ratings has surpassed 50%, but lately, the negative reviews have been coming up quickly.
For instance, out of the most recent ten reviews, 6 are one star, and 1 is 2. The other two have ratings of three and four stars.
That indicates that in a sample size of 10, 80% of the evaluations are unfavorable, with the majority citing excessive costs, problems with trust, and subpar customer service.
Pros and Cons
The following are Goldmoney’s benefits and drawbacks as an investment company:
Pros 
- Outstanding investing options as superior substitutes for paper investments
- Investing platform that is safe
- Before investing, fees are transparent. A dedicated relationship manager provides individualized investment alternatives.
Cons 
- Astronomical monthly fees
- The return procedure is highly complex
Final Thoughts – Goldmoney Review
What direction should your investment in precious metals take now? It has been stated by Goldmoney, independent review websites, and a few of Goldmoney’s previous customers.
Although Goldmoney regularly promotes itself as the best in the industry, some customer ratings consistently appear to be in conflict. Therefore, it is advisable to proceed as a new client or investor with care.
If this review has convinced you that Goldmoney is not for you, other options are always available. Continue looking.
Please let us know your thoughts if you found this review helpful.
Related Post: