What is GoldBroker?Gold Broker Locations, Timings, Email, Phone, Services
GoldBroker, founded by Fabrice Drouin Ristori in 2011, is an online platform that offers individuals and corporations the opportunity to invest in physical gold and silver. The company aims to provide a secure and reliable way for investors to diversify their portfolios with precious metals. GoldBroker.com offers competitive prices for gold bars, silver bullion bars, and various coins.
The company’s storage services are provided by Rhenus Logistics, ensuring the safekeeping of clients’ assets. The clients have direct and personal access to their stored assets, ensuring outright ownership and eliminating the need for intermediaries.
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The company’s founders have decades of experience in the financial sector and are committed to delivering exceptional service to their customers. They recognized the importance of physical gold and silver as a hedge against market volatility and sought to provide a quality solution for investors looking to protect and grow their wealth.
They offer asset management services, market analysis tools, and other resources to assist investors in making informed decisions. The platform is user-friendly and provides a straightforward process for purchasing gold and silver bullion bars.
The company’s parent company, FDR Capital, also operates GoldSwitzerland.com, which focuses on providing sales and storage of silver and gold for investors, corporations, trusts, and pension funds. The international storage options provided by Gold Broker are particularly advantageous for investors with IRA accounts. Gold Broker’s emphasis on physical ownership, secure storage, and direct access to assets sets it apart in the industry.
- Address: FDR Capital LLC, GoldBroker, 300 Park Avenue, 12th Floor, New York, NY 10022
- Phone: (800) 780-0350
- Website: www.goldbroker.com
People Behind Gold Broker: CEO, Owner, Co-Founders & MoreWho owns GoldBroker.com? What is the management team behind Gold Broker?
Gold Broker is led by two principal individuals who have extensive experience in the investment industry. Fabrice Drouin Ristor serves as the CEO and fund manager of both Gold Broker and its parent company, FDR Capital. With a background in managing various types of investments, including precious metals, Ristor has been actively involved in the field since 2008.
Egon von Greyerz is another key figure at FDR Capital and Gold Broker. He joined the company’s board in November 2012 and brings a wealth of expertise to the table. Von Greyerz is the founder of Matterhorn Asset Management AG, a highly respected German firm, as well as GoldSwitzerland.com.
He began his career in the Swiss banking industry and later spent over 17 years at the British FTSE 100 company Dixons Group, PLC, where he held the positions of Finance Director and Vice Chairman. Leveraging his skills in mergers and acquisitions, von Greyerz ventured into asset allocation consulting and established Matterhorn Asset Management, which specializes in wealth preservation.
Von Greyerz’s reputation extends beyond his involvement with Gold Broker. He gained recognition in the United States and the United Kingdom through frequent appearances on major news and financial programs such as CNBC, the BBC, and King World News. He is also a sought-after speaker at investment conferences worldwide, where he shares insights on precious metals, the global economy, and strategies for wealth preservation. Von Greyerz publishes numerous articles on these subjects, enhancing his credibility and recognition in the industry.
The leadership and expertise of both contribute to the credibility and reputation of Gold Broker and its affiliated companies, reinforcing their position as reputable entities in the field of precious metals storage and trading.
Gold Broker Products: Bullion Coins, Bars, And Rare CoinsAll products offered by Gold Broker
Gold Broker offers a variety of gold and silver bullion options to investors. The bullion they sell is produced by reputable refiners certified by the London Bullion Market Association, ensuring high quality and purity levels of 99.5% or greater.
Gold Broker primarily specializes in gold and silver bullion, with a selection of coins as well. They also offer options for palladium and platinum bullion, although to a lesser extent. Most of their products are available in larger quantities, such as 10-ounce rolls of gold coins or 450-500 monster boxes of silver coins.
In recent times, Gold Broker has expanded its offerings to include smaller-sized one-ounce bars of gold, platinum, and palladium, in addition to the traditional larger bars. The larger bars range from 15 ounces of gold to 1,000 ounces of silver.
Gold Broker has a buyback policy, meaning they will repurchase the products they sell once you contact them and specify the quantity you wish to sell. However, it’s important to note that not all of their products are eligible for IRA accounts, and their offshore storage arrangement is not permitted by the IRS for use in these retirement vehicles.
Overall, Gold Broker focuses on gold and silver bullion, providing options for bulk purchases, and has recently introduced smaller-sized bars and coins as well. It’s advisable to consider your investment goals and consult with the company to determine the availability of specific products for your desired investment strategy.
Here are some of the options available:
Gold Coins:
- 1-ounce Gold American Eagle Coins
- 1-ounce Gold American Buffalo Coins
- 1-ounce Gold Canadian Maples Leaf Coins
- 1-ounce Gold South African Krugerrand
- 1-ounce Gold Austrian Philharmonic Coins
- 1-ounce Gold Britannia Coins
- 1-ounce Gold Australian Kangaroo Coins
Gold Bars:
- 1-ounce Valcambi Gold Bar
- 100-gram Valcambi Gold Bar
- 100-gram Credit Suisse Gold Bar
- 250-gram Valcambi Gold Bar
- 500-gram Valcambi Gold Bar
- 1-kilogram Valcambi Gold Bar
- 1-kilogram Credit Suisse Gold Bar
Silver Coins:
- 1-ounce Silver Canadian Maples Leaf Coins
- 1-ounce Silver South African Krugerrand
- 1-ounce Silver Austrian Philharmonic Coins
- 1-ounce Silver Britannia Coins
- 1-ounce Silver Australian Kangaroo Coins
Silver Bars:
- 1-kilogram Valcambi Silver Bar
- 1-kilogram Asahi Refining Silver Bar
- 100-ounce Royal Canadian Mint Silver Bar
- 1000-ounce Silver Bar
Gold Broker offers a range of options for investors, including platinum and palladium in addition to gold and silver. They provide bars of various sizes and coins from different mints, giving investors a diverse selection to choose from. It’s important to review their offerings and consider your investment goals and preferences before making a decision.
How to Invest in Gold Broker IRA?Step-by-step guide for investing in Gold Broker IRA
To invest in a precious metals IRA through Gold Broker here are the general steps:
- Open a Self-Directed IRA
Select an IRA company that handles opening precious metals IRA accounts and fill out an application. You can work with Gold Broker to recommend an IRA company and provide the necessary paperwork. However, I don’t recommend doing so.
- Fund Your IRA
Once you have selected an IRA company, you can move your funds into your new IRA account. You can work with the IRA company representative to transfer or rollover funds into the new account.
- Select a Precious Metals Dealer
One of the forms you need to fill out along the way is typically called a Buy Direction Letter. This is where you list the precious metals dealer you have selected, such as Gold Broker.
- Decide Which Precious Metals to Purchase
You can choose to invest in gold, silver, platinum, or palladium for your IRA. There are some restrictions regarding fineness requirements and allowable coin types, so it’s important to get guidance from Gold Broker in this area.
- Place Your Order
Once the funds are available in your IRA account, you can call them to place your order for the desired precious metals.
However, I don’t recommend opening an IRA with them. Why? Because there are plenty of better options available for you.
Opening a precious metals IRA is a major decision. That’s why I suggest checking out our top gold IRA providers list. There, you can find the best precious metals dealer in your state and choose accordingly.
Also, the list will help you understand what the industry’s best has to offer and what you might miss out on.
Gold Broker Fees and Charges: Do they overcharge?What are their fees? Do they have hidden fees?
Gold Broker offers a range of services for investing in precious metals, and the fees associated with these services vary depending on the type of account, transaction size, and storage options. Considering the fees and comparing them with other similar platforms can help you make an informed decision. If you have further questions or require precise fee details, it’s advisable to contact Gold Broker directly.
Here is a summary of the fees mentioned:
- Transaction Fees: For individual accounts, there is typically a flat fee per transaction. Joint accounts may have additional charges based on the monthly investment amount. Corporate accounts may require higher minimum deposits but offer lower overall fees for larger transactions.
- Precious Metal Fees: The fees charged by Gold Broker for investing in precious metals depend on factors such as the type of metal, form (coins or bullion), and the amount invested. Rates for buying or selling metals are indicated on the company’s website.
- Commission Fees: Gold Broker does not disclose commission fees for bullion products upfront, as they claim these fees vary and may increase with larger purchases. As the minimum order size for such products is $10,000, it’s difficult to determine the average percentage charges.
- Buy-Back Sales: Gold Broker guarantees to repurchase all precious metals stored in their facilities. The approximate minimum commission for buy-back sales is $75, and a 1% fee is charged from the moment of purchase. It is advisable to inquire about these fees before making a decision.
- Storage Fees: Storage fees are separate from transaction fees and are charged for keeping precious metals in secure vaults. The storage fees depend on the value of the stored products. For values below $20,000, a 1.5% fee and a storage account maintenance fee of $110 apply.
- Additional Charges: Gold Broker mentions an additional $200 service fee for retrieving stored products or visiting the vault. There may also be insurance fees for precious metals stored in personal safes or safety deposit boxes.
Companies like Augusta charge ZERO fees for up to 10 years and allow you to choose your gold & silver. Gold Broker on the other hand provides fewer options.
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Gold Broker Reviews and Complaints: BBB, Trustpilot, SitejabberRead all the Gold Broker reviews & complaints
Better Business Bureau (BBB):
On the Better Business Bureau website, Gold Broker has no ratings and no customer reviews. No complaints have been filed or closed in the last 3 years. This business is also not accredited on Better Business Bureau website.
The “NR” rating on the Better Business Bureau (BBB) stands for “No Rating.” This indicates that the BBB has not received sufficient information about the business or has not yet evaluated the business for accreditation. The “NR” rating does not necessarily imply anything negative about the business; it simply means that the BBB has not assigned a rating due to limited information.
Non-accreditation on the BBB means that the business has not sought accreditation from the BBB or has not met the necessary criteria for accreditation. Accreditation is a voluntary process where businesses can choose to undergo an evaluation by the BBB to demonstrate their commitment to ethical business practices, customer service, and resolving customer complaints.
Trustpilot:
On the Trustpilot website, Gold Broker has 4.8 stars out of 5-star ratings based on customer reviews. A total of 39 customers reviewed them on the website. The business has an excellent rating on Trustpilot.
Some Reviews from trusted business rating websites:
#1. According to Sam F, this website provides a secure, trustworthy, and straightforward method to buy precious metal coins and bullion. Transactions are completed quickly, and the added benefit of safe and easily accessible storage is an excellent bonus.
#2. A satisfied customer of Gold Broker commended the diligent efforts of their customer service team in addressing all his inquiries. He expressed great satisfaction with his experience with Gold Broker thus far.
#3. Thierry Deniau expressed great satisfaction with the service provided, noting that the fees were relatively affordable compared to other options. However, there is a concern about the possibility of banks or the government holding bullion in the event of a bank run. The only downside, according to Thierry, is the complexity of the paperwork when selling bullion, which he would like to understand better.
#4. Frederic praised the comprehensive support provided, expressing how it instilled a sense of reassurance during his initial steps. He commended the rarity of such attentive follow-up and the promptness with which all his questions were addressed. The professionalism and clarity of the assistance received exceeded his expectations, leaving him thoroughly impressed.
#5. J.R. expressed his satisfaction with the support team, highlighting their helpfulness, patience, and thoroughness in addressing all his inquiries. They provided detailed answers and assisted him in selecting the appropriate investment products. Ultimately, J.R. was highly pleased with the outcome of his interaction with the support team.
Application of Gold Broker on Google Play Store:
Gold Broker has an official mobile application available on the Google Play Store. They have 50+ downloads and 4.4 stars ratings out of 5 stars, with only 125 customer reviews. The company primarily provides its services through its website and by phone. Customers can place orders for gold, silver, platinum, and palladium products online or by calling their toll-free number. Gold Broker also offers educational resources and market insights on its website to help customers make informed investment decisions.
Is Gold Broker Legit? Should You Invest With Them?Is Sold Broker a scam or legit? Are they worth it?
No, I don’t think you should invest with them.
Pros:
- Have a buyback program
- Impressive product selection
Cons:
- No ratings on BBB
- No platinum or palladium products
While GoldBroker.com is a legitimate company, I personally don’t think they are the best.
They offer a plethora of benefits to consumers. However, the precious metals industry has plenty of options for you to choose from.
If you’re interested in learning about how gold IRAs work, you can get a guide here:
Alternatively, I suggest checking out the best gold IRA company of your state through the map below.
At IRAEmpire, I have reviewed hundreds of companies and determined the best service provider of each state:
Find the best Gold IRA company in your state.