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  • » Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

#1 2015-05-06 06:09:18

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,298
Trades :   139 
Website

Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

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Over the last 12 months I've written about various ways of owning precious metals. I wrote about holding it at home, holding it in unallocated account and holding it in a safe deposit box. One form of holding bullion in that I haven't discussed a lot is allocated accounts. Today I'm bringing to your attention a new platform I recently became aware of from Bullion Capital, which allows you to execute trades in (& store) allocated metal. They describe it this way:

"MetalDesk is Bullion Capital's web-based trading platform, specifically designed for the trading and inventory management of physical precious metal."

The platform has some unique features that are particularly useful for Australian investors or those overseas wanting allocated metal stored here.... Read More

CONTINUED: Review of Bullion Capital's MetalDesk 2 Platform

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#2 2015-05-21 01:48:28

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,298
Trades :   139 
Website

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

I will write up a second part to this review when I find time (read the first if you haven't already), but was pleasantly surprised to have the Panda I ordered arrive and it was a 1986... I got this coin for the same price as a Gold Kangaroo smile

CFf3zgdUMAAjGxK.jpg

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#3 2015-05-24 04:57:29

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,298
Trades :   139 
Website

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

61_bullion_baron_header_ss.gif

Physical bullion has been a pretty solid focus of this site since it's inception almost 5 years ago. While I have in the past traded various "gold" and "silver" products (such as CFDs) which aren't backed by physical, my personal exposure to precious metals at the present time is only to personally stored physical (via safe deposit boxes) and allocated bullion products, the most recent of which has been Bullion Capital's MetalDesk.

I reviewed the platform a few weeks ago (Review of Bullion Capital's MetalDesk 2 Platform) and promised a follow up on the delivery process (once I'd been through it personally). So here is how it works... Read More

CONTINUED: Taking Delivery: Bullion Capital's MetalDesk 2 Platform

1986%2BChinese%2B1%2Bounce%2BGold%2BPanda%2BBullion%2BCapital%2BMetalDesk.jpg

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#4 2015-05-24 05:41:20

SilverDJ
Member
From: Australia
Registered: 2014-11-01
Posts: 2,528

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

I've been using Bullion Capital / MetalDesk for a year now, and I like it. Has some annoying little limitations in the UI like a fixed one day price graph, but the live nature of it and ease of use can't be beat.
BTW, technically you can get your allocated metal from them delivered. You move the allocated to the vault and then request transfer, but the delivery quote are ridiculous. I got the impression no one had ever asked to do it.

Also, this is the standard platform that eSuperFund will sign you up to when you join, they will create and account for you and you can trade metals in your super fund.

The Gold Buy/Sell ratio is crazy small, higher for Silver, but still good.

It's a bit strange how you can't just sign up with them as an individual, you have to be either be referred by broker (e.g. eSuperFund) or you have to pick one of the "introducing brokers" who technically act as the middle man and take their cut.
Strange, but works. Beware, broken fee changes very a lot. From 1% to 3% IIRC.

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#5 2015-05-24 07:00:22

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,298
Trades :   139 
Website

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

SilverDJ wrote:

BTW, technically you can get your allocated metal from them delivered. You move the allocated to the vault and then request transfer, but the delivery quote are ridiculous. I got the impression no one had ever asked to do it.

Maybe I was the first lol

$100 was an expensive delivery charge for $2200 worth of bullion, but if you were taking delivery of a substantial amount if wouldn't be so bad.

I do agree with your sentiment though, platform is best with the bullion left vaulted. If there comes a time where premiums are rising for physical, but that isn't reflected in their platform prices then you could take delivery in order to capitalise on that when selling.

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#6 2015-05-24 07:43:52

SilverDJ
Member
From: Australia
Registered: 2014-11-01
Posts: 2,528

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

Bullion Baron wrote:

Maybe I was the first lol

Perhaps!
I remember they had to get back to me and didn't seem quite sure about the procedure etc.
Given the low prices of bars and coins on there compared to the dealers, I thought it would be a good cheap way to get some physical if I ever desired that. But it seems they have that angle covered with the expensive shipping.
Yes, you'd have to buy many thousands worth to absorb the postage.

I do agree with your sentiment though, platform is best with the bullion left vaulted. If there comes a time where premiums are rising for physical, but that isn't reflected in their platform prices then you could take delivery in order to capitalise on that when selling.

That's what I use it for, I have most of my metal in Silver & Gold as allocated bars and coins on their, with the remainder just pool, as it's all stored for me nice and safe. Plus I have that option to have it delivered if for some reason I need that.

As I've mentioned on here before you can practically day trade metal on MetalDesk and make a profit. You only need a 1.5% swing on gold or something like that (1% transaction fee + buy/sell spread)

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#7 2015-05-24 08:44:17

aleks
Silver Stacker
From: Karl-Marx-Allee
Registered: 2010-10-14
Posts: 2,392
Trades :   27 

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

SilverDJ wrote:

It's a bit strange how you can't just sign up with them as an individual, you have to be either be referred by broker (e.g. eSuperFund) or you have to pick one of the "introducing brokers" who technically act as the middle man and take their cut.
Strange, but works. Beware, broken fee changes very a lot. From 1% to 3% IIRC.

Was interested until I read this, JUNK!


Only you have your best financial interest at heart, be your own guru

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#8 2015-05-24 09:37:57

SilverDJ
Member
From: Australia
Registered: 2014-11-01
Posts: 2,528

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

aleks wrote:

Was interested until I read this, JUNK!

Why?
I think a fixed 1% fee + a small spread (0.7% for Gold?) is quite reasonable.

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#9 2015-05-24 17:10:17

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,298
Trades :   139 
Website

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

aleks wrote:
SilverDJ wrote:

It's a bit strange how you can't just sign up with them as an individual, you have to be either be referred by broker (e.g. eSuperFund) or you have to pick one of the "introducing brokers" who technically act as the middle man and take their cut.
Strange, but works. Beware, broken fee changes very a lot. From 1% to 3% IIRC.

Was interested until I read this, JUNK!

Basically they are just wholesaling their MetalDesk platform at this time. Makes sense to get brokers on board as they already have their networks in place to sign-up customers who would be interested.

There may come a time when Bullion Capital offers directly, but it would just be at a standard retail rate as they wouldn't be doing themselves any favours by undercutting all the brokers who are signing-up customers on their behalf.

What matters is that the platform is competitively priced compared with similar products and I think they are, especially if choosing eSuperFund as the introducing broker (you don't have to be using a SMSF to go through them either, they are just one of the choices as I explain in the first part of the review).

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#10 2015-05-24 18:47:57

aleks
Silver Stacker
From: Karl-Marx-Allee
Registered: 2010-10-14
Posts: 2,392
Trades :   27 

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

SilverDJ I didn't mean the fees, the sign up process. BB I think this is absolutely idiotic why create a barrier to taking on customers with an unnecessary intermediary. Will I need to sign up via fax machine while i'm at it?


Only you have your best financial interest at heart, be your own guru

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#11 2015-05-24 19:09:54

Bullion Baron
Silver Stacker
From: Adelaide
Registered: 2009-09-14
Posts: 7,298
Trades :   139 
Website

Re: Bullion Baron: Review of Bullion Capital's MetalDesk 2 Platform

I hear what you are saying aleks. It would be a bit like Perth Mint only offering their coins through other bullion dealers (& not for direct sale through the mint).

But from a business perspective it makes sense to encourage the network of retailers to get established before allowing customers to come direct.

I do believe there is intent for Bullion Capital to offer MetalDesk without an introducing broker, but that may be some time away and chances are it may be more expensive than some of the best priced brokers (just as some bullion dealers sell Perth Mint products for a lower price than buying direct).

From a customer use perspective it makes no real difference. I still login to MetalDesk directly through the Bullion Capital website & the only visual cue I've noticed that shows I'm an eSuperFund customer is on the initial signup email.

But we all have to be comfortable with the products we use, so if having an intermediary makes you uncomfortable then can only suggest using a different allocated platform.

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