OneGold Review 2024
Disclosure
Disclosure: This page may contain affiliate links. This means we earn a small commission (at no additional cost to you) if you purchase a product through our links.In a Nutshell: OneGold is an online platform that gives users a streamlined way to enjoy precious metals ownership.
While the platform does sell physical metals directly to customers, it’s most well-known for enabling users to begin precious metal investing without ever actually needing to handle this type of product themselves.
The platform sells digital assets that are backed by real physical metals. These metals are stored in secure vaults, providing investors with peace of mind knowing that their real-world metals are safe.
Offering straightforward product pricing, multiple storage options, and having received multiple positive customer reviews, OneGold seems great on paper. How does it work in real life? Find out in my OneGold review.
Service Type | Fees |
---|---|
Precious metal dealer | Gold storage: 0.12% Silver storage: 0.30% $5/quarter minimum storage fee $25 bank wire fee |
OneGold is best for…
OneGold is an ideal platform for a range of investors, particularly appealing to:
- Digital-Savvy Investors: Those comfortable with digital assets and online trading will find OneGold’s platform intuitive and efficient for managing their precious metals investments.
- New Precious Metals Investors: Individuals new to precious metals investing can start with smaller, fractional investments, making OneGold an excellent entry point without the need for handling physical metals.
- Diversified Portfolio Seekers: Investors looking to diversify their portfolios with precious metals will appreciate OneGold’s straightforward approach and the security of knowing their investments are backed by physical assets.
- Convenience Seekers: For those who value convenience, OneGold eliminates the need for physical storage and insurance, offering a hassle-free way to invest in precious metals.
- Insured Investments: OneGold's investments are insured by Lloyd's of London, providing a high level of security and peace of mind for investors.
- Mobile Accessibility: The platform’s mobile app facilitates easy and on-the-go trading, making precious metals investing more accessible than ever.
- Reputable Foundation: Backed by AMPEX, a leader in the precious metals industry, OneGold benefits from industry expertise and a strong foundation.
- Learning Curve: For those new to digital assets or precious metals, there may be a learning curve in understanding how OneGold’s digital representation of physical metals works.
- IRA Limitations: While OneGold supports IRAs, they require third-party management, which might not be ideal for investors seeking a more direct IRA investment approach.
- Variable Spot Prices: The nature of precious metals markets means that spot prices can fluctuate, impacting the value of investments on the platform.
Table of Contents
What is OneGold?
OneGold is a digital platform specializing in precious metal investments, headquartered in Oklahoma City, OK. Established by AMPEX, a leader in the precious metals industry, OneGold aims to simplify the process of investing in precious metals for both seasoned and casual investors.
Although they do not offer a wide variety as some other precious metals companies, OneGold focuses on popular metals like U.S. gold and silver. What sets it apart is its competitive pricing. Leveraging digital representations of assets, OneGold effectively minimizes operational expenses, passing the savings on to its customers.
External OneGold Reviews & Ratings
Site | Rating | |
Product Hunt | 5 | |
4.9 from 63 reviews | ||
Apple App Store | 4.6 from 4,325 reviews | |
Google Play | 4.6 from 3124 reviews | |
Google My Business | 4.6 from 153 reviews |
Firsthand User Experience with OneGold
After reading many customer ratings, here are some telling reviews, from traders who have experienced the platform firsthand:
OneGold Customer Review Analysis
While reading the OneGold reviews, I noticed a few trends. The most common comments I read in the positive reviews were regarding the excellent customer service delivered by the OneGold team. OneGold’s focus on customer service is evident from many reviewers. Precious metals investors also liked how easy it is to use the app.
As for negative reviews, the number one complaint was delays in withdrawing funds. Judging from the responses from OneGold, this delay is usually caused by user error. For example, the user fills out the incorrect information for a bank transfer or does not understand the annual service fee attached to storing precious metals in their secure, storage vault.
If you want to dive deeper into a wide range of viewpoints, you can consider having a look at the OneGold Reddit reviews. However, I must note that the reviews on Reddit aren’t from verified users like the Google Play Store OneGold reviews.
Features
- Secure Precious Metal Products: OneGold offers gold, silver, and platinum for U.S. investors, securely held in vaults approved by Loomis International, COMEX, or AMPEX in the USA. Each product is fully insured against theft or loss by Lloyd’s of London.
- OneGold Mobile App: This app enables 24/7 trading, providing convenience for silver and gold investment. It features live spot prices, daily market news, and portfolio management tools to aid in informed investment decisions.
- Custom Alerts: Set personalized alerts on the app to be notified when metal prices hit your desired levels, allowing for strategic buying even outside market hours.
- AutoInvest Feature: A distinctive feature in the OneGold app, AutoInvest automates orders for real metal, ideal for building a metal-backed savings account. It can be set up on various frequencies – daily, weekly, monthly, or quarterly – and tailored to specific needs in terms of metal ounces or dollar amounts.
- Precious Metals IRAs: OneGold assists in diversifying investments or retirement accounts using self-directed IRAs. They provide a secure and trusted platform for IRA investments, including palladium, platinum, gold, and silver, all accepted by the IRS for IRAs.
- Digital Asset Trading: OneGold’s core feature is buying and selling digital assets, representing physical metals. Investors can quickly start purchasing metals for portfolios, with the option to redeem physical metals through APMEX.
Asset Redemption: Investors can redeem their digital precious metals investments at the current spot price minus a low 0.30%.
Pricing & Plans
Now that you have a general idea of the services offered by OneGold, I want to go over which services are available for free (and which ones you should expect to pay for).
Free
Creating an account with OneGold is free. You can sign up directly from the home page (where you can conveniently see the current price of gold, silver, and platinum!).
Upon joining the customer base, you will have instant, 24/7 access to OneGold. This will allow you to view current metals prices, buy metals, sell metals, and redeem metals at any time.
The metals you can purchase are determined by your location. While US users have access to gold, silver, and platinum, non-US users can only purchase gold and silver.
Paid
OneGold does require a minimum deposit of $100 each time you fund your account. However, you won’t need to spend this much per transaction as the platform offers support for fractional purchases.
When purchasing platinum, gold, or silver products as digital assets, you will be responsible for paying for the price of the metals. You will also be subject to storage fees. Payments can be made via check, credit card, bank account, or Bitcoin.
If you decide to redeem your digital assets, the customer assets you’ve paid into will not be sent to you (as you’re likely only a fractional owner). Instead, the equivalent of the value of the current spot price (-30%) will be shipped to you in the appropriate metal type via APMEX.
Domestic shipping is free, but international shipping will incur fees.
Investment Security and Assurance
OneGold stands out for its commitment to investment security and assurance. The platform ensures that all digital assets representing physical metals are fully backed and stored in secure vaults, offering a tangible assurance to investors.
This approach not only simplifies the investment process but also provides a level of security that is often lacking in traditional physical metal investments.
Additionally, the insurance provided by Lloyd’s of London adds an extra layer of protection, ensuring that investments are safe from potential losses due to theft or other unforeseen circumstances.
User Experience and Accessibility
The user experience on OneGold is designed with accessibility in mind. The platform’s interface is intuitive and user-friendly, catering to both seasoned investors and those new to precious metals.
The incorporation of a mobile app further enhances accessibility, allowing users to manage their investments on the go. This level of convenience is a significant advantage for investors who prefer quick and easy access to their portfolios.
Market Insights and Resources
OneGold provides valuable market insights and resources, helping investors make informed decisions. The platform offers real-time market data, price alerts, and analytical tools, enabling users to stay abreast of market trends and price movements.
These resources are particularly beneficial for investors looking to deepen their understanding of the precious metals market and refine their investment strategies.
Reviewing OneGold Competitors
A OneGold review wouldn’t be complete without discussing some of the notable competitors in the precious metals market. If you are looking to add Palladium products to your investment portfolio, Goldmoney might be your answer.
An ideal investment option for Palladium enthusiasts with high investment levels, Goldmoney is a reliable option for investors. To see how they stack up, you can read my OneGold vs Goldmoney comparison.
Precious metal investors who prefer to store their metals themselves might find BullionVault advantageous. BullionVault helps facilitate peer-to-peer precious metals trading on their platform as well if that is what you are into. To see which is better for your situation, consider giving my OneGold vs BullionVault article a look.
OneGold Review Final Thoughts – Is OneGold Right for You?
Concluding this OneGold review, it’s clear that OneGold presents an innovative and accessible approach to precious metals investing. This digital platform is particularly appealing to those who wish to invest in gold, silver, or platinum without the complexities and security concerns of physical storage.
Its unique model of representing physical metals with digital assets simplifies the investment process, making it an attractive option for both seasoned and new investors.
OneGold’s secure storage solutions, backed by reputable institutions like Lloyd’s of London, provide assurance and peace of mind. The ease of trading, coupled with the flexibility of fractional purchases, opens the door to precious metals investing for those with limited funds or those looking to diversify their investment portfolios with smaller amounts.
The platform’s commitment to transparency, competitive pricing, and its user-friendly interface, accessible via a mobile app, adds to its appeal. Whether you’re a long-term investor or someone exploring precious metals for the first time, OneGold offers a streamlined and secure way to diversify your investment portfolio.
If you’re interested in this non-traditional approach to precious metals investing, you can check out OneGold for yourself – click here.
Frequently Asked Questions
Yes, OneGold is a legitimate online platform for investing in precious metals, backed by industry leader AMPEX.
OneGold is a joint venture between two established companies in the precious metals industry, AMPEX and Sprott.
The minimum deposit required to fund a OneGold account is $100.
OneGold allows users to buy and sell digital assets that represent real physical metals stored securely in vaults.
To withdraw money from OneGold, you can sell your digital assets and request the proceeds to be transferred to your linked bank account.
The CEO of OneGold is Ken Lewis, who also serves as the CEO of APMEX.
Yes, OneGold offers the option to redeem digital assets for physical metals through APMEX.
Yes, investments on OneGold are highly liquid, allowing for quick buying and selling of digital assets.
OneGold does not provide direct investment advice but offers resources and tools to help investors make informed decisions.
Yes, OneGold charges storage fees for gold and silver, with a minimum storage fee of $5 per quarter.
Yes, OneGold provides tools for tracking and managing your investment portfolio in real time.
OneGold offers investments in gold, silver, and platinum.
Yes, OneGold has a mobile app available for both iOS and Android devices.
Yes, OneGold allows users to set custom price alerts for different metals.