High rate
10 business day withdrawal wait. Premium is very high. Currently £103 for a gram but you will pay over £200 for it. What the point in that. That’s just paying double for no reason. And when you’re are scraping/ withdrawing your only getting 25% of what you actually deposited.
Poor pricing
The price you pay for gold on this app is 50% lower than buying it at spot price. Do not purchase from here!
Be aware!! This is a scam app!! Deserve 0 stars
Be very careful before putting money into this app.
I signed up believing I was investing £50 per month into gold. What I didn’t realise at first was just how little gold I was actually getting for my money.
For one £50 payment, I received around 0.200g of gold. Compare that with the actual market value of gold per gram and the difference is absolutely shocking. You’re paying a huge premium for the tiny amount of gold you receive.
It gets even worse when you try to get your money back. I discovered that I couldn’t simply withdraw what I’d paid in. Instead, I was told the gold would have to be sold/scrapped, and from approximately £50 paid in, I would only get around £15 back.
So you put in £50, receive a tiny fraction of a gram of gold, and if you change your mind, you can potentially lose most of your money.
I personally feel completely misled by this service. Please do your own calculations and check exactly how many grams of gold you’re receiving, the price you’re effectively paying per gram, and what you’ll actually receive if you sell it back BEFORE putting any money in.
I wish I’d done that before signing up. Buyer beware.
I signed up believing I was investing £50 per month into gold. What I didn’t realise at first was just how little gold I was actually getting for my money.
For one £50 payment, I received around 0.200g of gold. Compare that with the actual market value of gold per gram and the difference is absolutely shocking. You’re paying a huge premium for the tiny amount of gold you receive.
It gets even worse when you try to get your money back. I discovered that I couldn’t simply withdraw what I’d paid in. Instead, I was told the gold would have to be sold/scrapped, and from approximately £50 paid in, I would only get around £15 back.
So you put in £50, receive a tiny fraction of a gram of gold, and if you change your mind, you can potentially lose most of your money.
I personally feel completely misled by this service. Please do your own calculations and check exactly how many grams of gold you’re receiving, the price you’re effectively paying per gram, and what you’ll actually receive if you sell it back BEFORE putting any money in.
I wish I’d done that before signing up. Buyer beware.
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Crazy Premiums - Stay Away
I just downloaded the app after seeing an add on TikTok and thought this is quite a good concept. Pay monthly into an account accumulate the gold with you monthly deposits and eventually have it delivered to your door.
While going through the registration process I noticed that depositing £50 would get you roughly 0.24grams of gold. To put that into perspective that’s a 97% premium on the spot price of gold while writing this review. Now thankfully I know about gold prices and definitely know that no other bullion dealer online is charging anywhere near that sort of premium!
For someone new to gold you’re better off sticking your money into a savings account and buying gold from reputable dealers like chards or Atkinsons whose premium range between 3-20%.
This concept would have been good if you weren’t paying double for the price of gold!
While going through the registration process I noticed that depositing £50 would get you roughly 0.24grams of gold. To put that into perspective that’s a 97% premium on the spot price of gold while writing this review. Now thankfully I know about gold prices and definitely know that no other bullion dealer online is charging anywhere near that sort of premium!
For someone new to gold you’re better off sticking your money into a savings account and buying gold from reputable dealers like chards or Atkinsons whose premium range between 3-20%.
This concept would have been good if you weren’t paying double for the price of gold!
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Buyer be away
For every 1gram you buy Metfolio takes £80+ premium
