Gold Broker Review & Complaints

Gold Broker has been around since 2011. The company’s mission is to help ordinary investors buy and store precious metals. They believe you should have access to your vault and be able to view your metals whenever you want.
But don’t let the advanced look of their website intimidate you. What they offer is pretty simple. But do they stack up well versus their competitors? It is worth it to invest with them?

Product Type: Precious Metals
Owner: Fabrice Drouin Ristori (Founder)
Rating: 3.0/5
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Our Gold Broker Review

The founder is Fabrice Drouin Ristori. This French entrepreneur created the company in 2011. After he graduated from the Kedge Business School in 2004, Ristori spent several years working on website startups.

In 2010, Fabrice sold his stakes in the companies he founded. He wanted to maintain his life as an entrepreneur but tired of the constant management of his investments. He then decided to invest in gold, as it is fairly stable regardless of economic conditions.

When starting out in precious metals, he invested in gold ETFs. However, with these funds, you don’t actually have physical ownership of precious metals. Fabrice then took another direction. He tried storing physical gold in bank safety deposit boxes. However, it was difficult if not impossible to get insurance for the deposits. Also it was hard to liquidate the assets.

He then devised a solution. He wanted to create storage solutions for precious metals for the average investor. The storage vaults would be completely insured. Also the vaults would be set up in a multitude of countries around the world. This was attractive to those who wanted to store their metals in tax havens. The international distribution of the gold vaults provided an effective hedge against government seizure of assets.

In September of 2020, the company moved to London. This put the headquarters in the midst of the largest market for precious metals trading. Right now, they have a staff of 15 people and is present in the English, Spanish, German, and French markets.

Storage Options

Gold Broker does not own its precious metals vaults. Rather it partners with Malca-Amit, a trusted depository institution. Founded in 1963, this depository company is not affiliated with any bank. Today, high net worth individuals use this company to store their physical bullion.

You can choose from up to four storage facilities spread all around the world. In the United States, you can store your goods in New York. In Canada, you can choose Toronto. There are also vaults in the freeport in Singapore and in Zurich, Switzerland.

There are downsides to storing items in the United States. For example, New York has a higher tax burden for precious metals than nearby Delaware. Many people would rather keep their store in the Delaware Depository.

Also, for those living outside the Northeast, the New York depository is too far for regular visits. If you want easier reach to your assets, you may want to go with a company that has more depositories around the county.

Personal Ownership

One outstanding difference from gold ETFs is that you are that actual and sole owner of your items. This is not “paper gold”. Even if the depository goes bankrupt, your items are yours and not the creditors. They cannot be seized. The vaults outside the United States are specifically in places with tax advantages. You don’t have to be concerned about foreign taxation either.

When you deposit, you will be given a certificate by Malca-Amit. This guarantees that the vault actually has the precious metals in it. Malca-Amit is a Swiss company and Swiss law is rigorous about verifying these certificates. The vault will have the metals your certificate is claiming.

Your metals are held in your name, not in the name of Gold Broker. The contract for deposit is made between you and the depository. Even if Gold Broker were to go bankrupt, the assets are held in your name, not the company’s.

If you want to access your vault and withdraw assets you can. You can do this completely without the involvement of Gold Broker. All you have to do is arrange an appointment with Malca-Amit at least 48 hours in advance of your visit. When you get to your vault, you can inspect your metals and even withdraw them if you want.

Buyback Program

If you need to sell, you can eliminate the risk of illiquidity. Gold Broker has a buyback program that will buy back your stored assets. The process is quick, usually taking less than two business days.

The process is fairly simple. After a purchase, you will have access to a client area on the website. From there, you can enter a secure chat. A Gold Broker representative then will help you with the process. Once you send in a sell order, you will receive a document for signing. This will authorize the company to remove the precious metals from your vault. The metals will then be transferred to Gold Broker’s own vault.

The company will base its buyback price on the spot price at the time of the transaction. The funds should arrive at your bank in less than two business days.

There is a minimum buyback price level of $75. For most serious investors in precious metals, this is not a very high bar.

Important: We DO NOT recommend using this company. Instead we recommend Goldco that is having a promotion for a FREE gold kit.

==> Click Here for the FREE Investment Guide Before The Promotion ENDS



If the even the small risk involved in storing metals in vaults is too much, you can have your gold shipped directly to you. The deliveries will be fully insured. The deliveries will be shipped with one of USPS, FedEx or UPS.

For orders over $250,000, the company will hire and use an armored car to bring your metals to you. You will have to call and get a quote from the company on the costs involved with hiring the armored car service.

Free shipping is available in the US for all gold and silver orders – fully insured. There are fewer choices for international shipping though. Items can only be shipped to France. And it is not free. The estimated costs will be based on package weight.

The company provides you with the ability to track orders once they ship. You will be sent a tracking number via email. You can use this to get updates on where your package is. The insurance requirements mean you will have to sign for the package when it gets to your home.


Part of the item price includes a commission for the salespersons. The company isn’t completely transparent about what fraction of the price is commission related. The commission does vary with product and quantity order.

However, for bulk buying, the overall included commission is less. So buying big will save you some money.

If you want to invest, you should know that there is a minimum purchase amount of $10,000. This does not include the service fee. Second purchases are a minimum of $5,000. The company requests that you contact them before making orders over $400,000.

Is Gold Broker a Scam?

You can be assured that the company is legitimate. It does seem to provide goods and services that it says it provides. You can look up information about the people behind the company. The company owner even has a LinkedIn profile.

There are some concerning things however. The company does not have a BBB rating. While this does not mean that the company is bad, it doesn’t mean that it is good either. The BBB has made no judgment on the company’s character. However, there are no active known government investigations either. Nor does the company have a history of government action against it.

Without a BBB rating, it is difficult to assess how any former customers feel about the company one way or the other. While no news may be good news, some may want more positive feedback from other potential buyers. However it should be noted that no complaints have been filed either.

This company does lack some transparency in its pricing. How much of the price is commission? Would buyers get better pricing from spot pricing? These are some questions you may want to ask yourself before buying.

Pros & Cons

Easy access to your metals.
You can have your metals delivered or get them from your vault.

A lack of transparency on pricing structures – no information on how much of the price is markup/commissions.
Storage costs are not flat rate but depend on how much you have invested.

Gold Broker has over ten years of experience in dealing precious metals. Their mission is to make it easier for you to buy and store precious metals. They partner worldwide with companies and others to provide this service. But they may not be better than their competitors at pricing and service.

A lack of pricing transparency may mean that you are overpaying for your items. Without a lot of online reviews, it may hard to determine how customers rated their services, good or bad. They do not have a BBB rating to provide some level of customer assurance.

Overall, this lack of information suggests that you may want to go with another option. We prefer companies with much more positive feedback than simply having a lack of negative feedback. Also understanding the price structure is important for us. Other retailers are much more forthcoming about how commissions and markup affect the final price.

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