Is anyone here have traded with Bullion Capital (BC) before? I am interested to trade with their platform since it is allocated bullion and its premium are quite low. Is there any minimum amount of funds required to open an account for a trader outside Australia and how much is their storage fees per year? How much fee do they charge if we withdraw funds from BC account to our bank account? Thanks
Bullion Baron wrote a review on his blog here: http://www.bullionbaron.com/2015/05/review-of-bullion-capitals-metaldesk-2.html
Bullion Capital is a decent service, and as long as you aren't wanting in your hands immediately then it's a good choice as you can pick over various products in a particular metal - not just a single product like you get with some other providers. So where many 'allocated' programs don't offer various coins, Bullion Capital does which makes it awesome, and as Baron found out you can get older coins in top nick which would go for a premium at a dealer. Again, there are some products 'missing' which would be nice to add - Libertads would be great to have on there for example, and maybe the Platypus coins from Perth Mint? But overall it is a well-placed niche provider.
Bullion Capital works great. Storage fees are 1% for all metals, and execution fee is 1% The brokerage fee depends on which broker you use when you sign up. You can't actually just trade through Bullion Capital, you need to use an "introducing broker" that takes a cut. Some are 1%, so just use whichever one on the list is cheaper. I still like Bullion Capital, but I now like the Perth Mints new online depository service better. You can even pick which serial number allocated bar you want!
