OneGold Review: Is This the Ultimate Solution for Precious Metals Investing?
Is OneGold the dependable platform for precious metals investment you’ve been searching for? In this OneGold review, we’ll dive directly into its reliability, fees, and features like auto-investment and physical redemption. No fluff, only what you need to make an informed decision about leveraging OneGold for your investment strategy.
Key Takeaways
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OneGold, created by APMEX and Sprott, offers a secure and convenient platform for investing in precious metals, including an easy account setup process, diverse funding options, and the ability to redeem investments for physical metals.
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The platform highlights unique features like AutoInvest for automatic metal purchases and a mobile app for managing investments on the go, enhancing the user experience and investment strategy customization.
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OneGold provides competitive pricing with low industry premiums, transparent storage fees, and fully insured investments, and offers precious metals IRAs for portfolio diversification and tax advantages.
Unveiling OneGold
OneGold is an exceptional platform that democratises the realm of precious metals investing. It was established as a joint venture between two industry leaders, APMEX and Sprott, with Ken Lewis, the CEO of APMEX, at the helm. This partnership combines the expertise of both companies to provide an unparalleled platform for gold investments.
Designed for security and convenience, the platform facilitates the buying, holding, and selling of precious metals. This online hub allows unrestricted purchase of gold, silver, or platinum at any time. Wondering about its credibility? Rest assured, OneGold is a legitimate online platform with a sole focus on providing a seamless precious metal investment experience.
Navigating the OneGold Platform
OneGold stands out for its intuitive user interface and mobile app, making it a breeze to create an account, deposit funds, and manage your investments. Navigating the platform is effortless, regardless of whether you’re an experienced investor or a beginner.
Imagine having a 24/7 precious metals market at your fingertips, enabling you to view current metal prices, and buy, sell, or redeem gold, silver, and platinum at your convenience. This is the power of precious metal investing, attracting precious metal investors worldwide.
Account Creation and Funding Options
Getting started with OneGold is straightforward. Here’s how:
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Provide your first and last name, email address.
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Select the account type and get your free onegold account.
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Complete the sign-up process.
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Once you’ve created your account, you can instantly link your bank account for free ACH transfers, making funding your buy orders a breeze.
OneGold doesn’t limit you to just bank transfers. The platform offers a variety of funding options to suit your needs. Whether you prefer bank transfers, credit card payments, or even PayPal, OneGold has got you covered. You can link multiple bank accounts, credit cards, or PayPal accounts to diversify your funding options and manage your onegold cash balance. Even if you’re an international investor, OneGold has you covered with instructions for international wire transfers.
Precious Metals Offered
With your account set up and funded, you’re all set to start investing in precious metals. By providing investment opportunities in gold, silver, and platinum, OneGold ensures a broad range for portfolio diversification.
What makes investing with OneGold even more attractive is the option to redeem your investments for physical precious metals, including physical gold. That’s right! You can convert your digital assets into tangible value, adding a unique dimension to your gold investment experience. In fact, you can buy physical gold and silver products in certain regions like Switzerland, Canada, and the UK.
OneGold’s Unique Features
OneGold distinguishes itself from other precious metals trading platforms with its distinctive features. From its AutoInvest feature that enables automatic purchases of real metal to its mobile app that lets you manage your investments on the go, OneGold is truly a game-changer in the realm of precious metals investing.
The Power of AutoInvest
One of OneGold’s standout features is AutoInvest. This feature enables investors to:
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Set up automatic purchases of real metal at chosen intervals and amounts
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It’s like having a savings account, but instead of money, you’re saving precious metals
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This feature is designed to help you gradually build your precious metal holdings through regular, recurring purchases.
Complete control over AutoInvest settings is at your disposal. You can configure AutoInvest to:
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Purchase metals based on your desired ounce quantity
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Set dollar amounts you wish to invest
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Choose the frequency of your investments (daily, weekly, monthly, or quarterly)
AutoInvest can be customized to match your individual investment strategy.
Mobile App Convenience
In the hustle and bustle of today’s world, a mobile app simplifies investing considerably. OneGold’s mobile app, available for both iOS and Android devices, allows you to manage your investments on the go.
The OneGold app offers the following features:
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24/7 trading access
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Live spot prices
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Interactive portfolio tools
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Custom market alerts
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Daily market news
These features keep you informed and engaged with your investments at all times.
Storage and Security
In the realm of precious metals, storage and security are paramount. OneGold understands this and provides fully backed digital assets stored in secure vaults. Each investment is fully insured against theft and physical loss by Lloyd’s of London, giving you peace of mind.
Let’s examine further how OneGold secures your precious metals by storing precious metals safely.
Secure Vaults and Insurance
OneGold’s inventory includes physical metals stored in secure vaults that adhere to the best security practices, ensuring the safeguarding of customer assets. You have a choice of trusted vaulting partners for storing your precious metals, including:
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APMEX
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Brinks
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Loomis International
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CNT in the U.S.
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The Royal Canadian Mint in Canada.
Adding an extra layer of protection is the insurance coverage provided by Lloyd’s of London. This coverage satisfies stringent security requirements that reinforce investor confidence. So, you can rest assured that your investments are not only secure but also insured.
Inventory Audits and Transparency
By supplying detailed monthly inventory reports from vaulting partners, OneGold earns its customers’ trust. These reports provide a transparent view of OneGold’s operations, giving customers confidence in the platform’s integrity.
In addition to the monthly inventory reports, OneGold’s operations are further reinforced with third-party verification, providing an extra layer of assurance. These measures underscore OneGold’s commitment to transparency and accountability, setting it apart in the precious metals investing landscape.
Pricing and Fees
Various fees are involved in trading precious metals on OneGold, such as:
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Transaction fees
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Service fees
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Buying and selling premiums
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Separate storage fees
But don’t worry; we’ll break these down for you in the following subsections.
Competitive Pricing and Premiums
Competitive pricing is one of the significant advantages offered by OneGold. The platform boasts of offering the lowest premiums in the industry, reducing the costs for investors. These premiums remain consistent regardless of the transaction size, offering transparency and fairness to investors of all scales.
It’s worth noting that the spot price of gold is determined by the interplay between demand and supply. So, while the premiums are consistent, the spot price can fluctuate, affecting the overall cost of your investment.
Storage Fees Explained
OneGold levies storage fees on precious metals, encompassing gold and silver. These fees are billed quarterly, amounting to 0.12% per annum for gold and up to 0.30% per annum for silver and platinum. This means that you’ll be billed for the storage of your precious metals every quarter, based on the average daily balance of the metals.
The annual storage fee for gold set by OneGold is substantially lower than what is commonly charged by ETFs, which can be between 40 to 60 basis points. There’s a minimum storage fee of $5 per quarter, but given the potential return on investment, it’s a small price to pay for the security and convenience offered by OneGold.
Precious Metals IRAs with OneGold
OneGold goes beyond just buying and selling precious metals, including the option to sell gold; it offers self-directed Individual Retirement Accounts (IRAs) that allow diversification of retirement accounts with IRS-approved metals.
Let’s explore further the advantages of these IRAs and the process of setting one up with OneGold.
Advantages of Precious Metal IRAs
Precious metal IRAs offer several advantages. For starters, they may allow for tax-deferred or tax-free growth of investments, providing a significant fiscal advantage. Additionally, precious metal IRAs have the potential for compound interest when the value of metals increases over time, offering the opportunity for exponential growth.
Investing in precious metal IRAs can provide several benefits, including:
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Hedge against inflation
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Diversify investment portfolios
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Ability to invest in multiple types of precious metals (gold, silver, platinum)
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Different market exposure and diversification benefits
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Balanced investment portfolio by adding an asset class that typically moves independently of the stock and bond markets.
Setting Up a OneGold IRA
A few steps are involved in setting up a gold IRA with OneGold. Here’s how it works:
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Select a preferred custodian and fund the account.
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Link your account to your OneGold profile.
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The platform works with preferred custodians to make this process as smooth as possible.
To get started with a OneGold IRA, follow these steps:
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Contact OneGold with your inquiries and express your interest in setting up an account.
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The OneGold team will guide you through the account setup process and help you explore investment options.
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Once your IRA is set up, you have the flexibility to create a portfolio that aligns with your investment strategy.
Customer Feedback and Reviews
Customer feedback, including OneGold reviews, can yield valuable insights into a platform’s performance. With an average score of 3.9 out of 5 on Trustpilot and a ‘Great’ rating, OneGold’s reviews paint a mostly positive picture. Many customers praise OneGold for its ease of use and effective customer support. Positive reviews often highlight the platform’s user-friendly process for investing in precious metals and its helpful auto purchasing features. However, some reviews have voiced concerns about account security and redemption difficulties. This feedback, both good and bad, provides an honest look at the user experience with OneGold.
Comparing OneGold to Competitors
Comparing any investment platform with other competitors is always a prudent measure. Let’s take a look at how OneGold stacks up against Vaulted, another popular platform in the precious metals domain.
Vaulted imposes fees of 1.8% when buying or selling gold on top of the wholesale price and has a 0.40% annual maintenance fee for gold storage. It also offers a VaultPlan which includes an automatic gold savings plan. However, Vaulted only specializes in gold and does not offer other precious metals, whereas OneGold provides gold, silver, and platinum investment options.
This comparison shows that while both platforms have their strengths, OneGold’s wider range of precious metals and unique features like AutoInvest make it a compelling choice.
Summary
In summary, OneGold is a reputable online platform that provides a secure and convenient way for investors to buy, hold, and sell precious metals. With competitive pricing, unique features like AutoInvest, and a user-friendly mobile app, OneGold stands out as a leader in the field of precious metals investing.
Whether you’re a seasoned investor or a beginner, OneGold provides a platform to diversify your investment portfolio with precious metals. With its emphasis on transparency, security, and customer satisfaction, OneGold truly shines as the ultimate solution for precious metals investing.
Frequently Asked Questions
Is OneGold app safe?
Yes, OneGold app is safe as it has an A rating with the Better Business Bureau, a customer rating of 3.9 out of 5 stars, and the precious metals holdings are stored in top-tier global vaults with companies such as Loomis, Brinks, RCM, CNT, and APMEX, and fully insured by Lloyd’s of London.
What is the minimum investment for OneGold?
The minimum investment for OneGold is $100, regardless of the funding method you choose, making it accessible to a wide range of investors.
Who owns OneGold?
OneGold is owned by APMEX, Inc., and Sprott Inc., both trusted and experienced names in the precious metals and investment industries.
How do I create an account on OneGold?
To create an account on OneGold, simply provide your name, email, select an account type, and complete the sign-up process on their website.
What types of precious metals can I invest in on OneGold?
You can invest in gold, silver, and platinum on OneGold, and also have the option to redeem your investments for physical precious metals. Start investing today to diversify your portfolio.
