As its website claims, BullionByPost is UKs No.1 online bullion dealer. It is located in Birmingham city centre. BullionByPost is owned by a company called Jewellery Quarter Bullion Limited(JQB). BullionByPost mainly offers UK citizens and mainland European citizens a platform to buy bullion for investment. Their bullion products include gold bars, silver bars, gold coins and silver coins. It allows customers to either trade metals with BullionByPost or invests with the company. However, according to WikiFX, BullionByPost has some serious problems that you may need to pay attention to.
Lacking a legitimate license
According to WikiFX, this broker does not have a legitimate license. It is risky to trade with this bullion dealer as WikiFX gives BullionByPost a very low rating of 1.4/10,which means you may seriously lose your money when you invest in it. Despite lacking a legitimate license does not guarantee that this dealer is a scammer, we suggest traders to stay away from it .It is easy for them to steal your money as they are not regulated by any regulatory institution.
Unavailable in using MT4/MT5 software
In most of cases, forex trade brokers use Trade Manager MT4/MT5 to do business.According to WikiFX, BullionByPost does not use MT4/5 software, which makes people doubt its reliability.
Strict and unfriendly refund policies
BullionByPost has a very unfriendly refund policy due to the complaints from the customers. It has a bad track record of making excuses to deduct amounts from your accounts and detain profits. Even worse, instead of helping you solve the problem, BullionByPost is likely to block your accounts if there is a conflict of interest between you and BullionByPost.
Conclusion
Although BullionByPost doesn‘t 100% look like a scammer as it has a physical address and real owner , it doesn’t mean that it is a good idea to make an investment with them since WikiFX gives it a very low rating. it is up to you to decide whether to invest with the company or not. But we advise you to check out other brokers that have higher rating through WikiFX.
WikiFX contains details of more than 31000 global forex brokers, which gives you a huge advantage while seeking the best forex brokers. If you want to know more information about the reliability of certain brokers, you can open our website (https://www.WikiFX.com/en) to check out more information by yourself. The most common way to use WikiFX is to type the name of a certain broker in the search box, WikiFX will give you all information about this broker in a few seconds. Besides, WikiFX App offers you the easiest way to find the best forex brokers. You can download WikiFX App to your mobile devices in a very short time . WikiFX App supports both the Android system and IOS system and it is completely free to download.
Leave a Reply