Goldmoney Review

Goldmoney is a Toronto-listed precious metals platform that lets you buy, store, and sell physical gold, silver, platinum, and palladium online.

The company has been around since 2001, trades on the Toronto Stock Exchange under the ticker XAU, and currently holds close to $5 billion in client metal across vaults in six countries.

This review from Gold is Money 2 will break down what it actually costs to use Goldmoney, how the storage and security setup works, and what real customers say about their experience, based on published fee schedules, company disclosures, and third-party review data.

What Goldmoney Actually Is

Goldmoney isn't a coin dealer and it doesn't sell numismatic products. It deals exclusively in bullion bars, and you don't need to buy a whole bar to get exposure.

You can purchase a fractional amount of a bar, say a few grams of gold, and Goldmoney tracks your ownership share of that specific bar.

This is the "allocated" model: your metal is assigned to you, not commingled into a pool the company can lend out or hypothecate.

The company operates in more than 100 countries and settles transactions in nine currencies, including USD, EUR, GBP, CAD, JPY, CHF, AUD, HKD, and SGD.

Funding an account is free through bank wire or Direct Bank Transfer (CHAPS in the UK), though your own bank may charge an outgoing wire fee on their end.

As a publicly traded company, Goldmoney files quarterly and annual financial statements audited by BDO Canada LLP, which gives it a level of financial transparency that most private bullion dealers don't offer.

Fee Structure: The Part That Actually Matters

This is where a lot of reviews get muddy, so here's the fee schedule laid out plainly.

The storage percentage looks cheap on paper. Goldmoney itself points out that $100,000 in gold bullion costs a little over $20 a month to store and insure, which works out to well under the 0.25% headline rate once you annualize it properly. The problem is the floor underneath that math.

Every account pays a minimum $10 a month no matter how small the balance is. Put $2,000 into gold and you're paying $120 a year in storage, which is a 6% annual drag, not 0.25%.

Run the numbers and the crossover point where the percentage fee becomes cheaper than the flat minimum lands around $48,000 in holdings.

Below that, you're effectively subsidizing the account minimum. Above it, the fee structure works in your favor.

Physical delivery is where things get expensive fast. To take metal out of the vault you need to own at least 1 kilogram of gold or 1,000 ounces of silver to register a full bar for redemption, and you'll pay 3% plus a $1,250 minimum charge per request, on top of applicable taxes.

Goldmoney is built for people who want to hold metal digitally and sell it back into cash, not for people who plan to physically take delivery on a regular basis.

Storage and Security

Goldmoney stores client metal across 13 vaults in six countries, using established operators including Brink's and Loomis International.

All bars meet London Good Delivery standards for gold and silver, set by the London Bullion Market Association, and the equivalent standard from the London Platinum and Palladium Market for those two metals.

Because the metal is fully allocated and specifically identified, Goldmoney says there's no cap on insurance coverage the way there would be with a bank deposit, which is a meaningful distinction if you're holding a large sum.

None of that changes the fact that Goldmoney retains contractual authority to relocate holdings between vaults and to change its terms.

 That authority shows up repeatedly in the customer complaints below, and it's worth understanding before you fund an account, not after.

The Goldmoney Mastercard

One feature that sets Goldmoney apart from a straight bullion dealer is the Goldmoney Mastercard, a prepaid card tied to your metal holdings.

 You can spend against your gold balance the way you'd spend from a checking account, with the platform converting metal to currency at the point of sale.

It's a genuinely useful bridge between holding a hard asset and needing liquidity day to day, and it's not something most competing platforms like BullionVault offer.

Customer Reviews: A Mixed Picture, Told Straight

Here's where tone needs to shift, because the review landscape for Goldmoney doesn't tell one clean story.

The Better Business Bureau gives Goldmoney an A+ rating. That's a formal accreditation based on business practices and complaint resolution, not a popularity contest.

Trustpilot tells a rougher story. Review aggregators report the Trustpilot average sitting anywhere from roughly 2.2 to 4.2 out of 5 depending on when the snapshot was taken, a gap wide enough to suggest a recent surge of new reviews shifted the number meaningfully within the past year.

SmartCustomer, a separate aggregator, lists 91 Goldmoney reviews averaging 1.5 out of 5 stars.

The recurring complaint across multiple platforms centers on a specific pattern: customers who opened accounts years ago when Goldmoney charged no storage fee say the company later introduced fees, moved their holdings between vaults without prior authorization, and in some cases closed personal accounts and liquidated holdings, including cases reported in early 2025, just before a run-up in gold prices.

Whether Goldmoney's terms of service permitted these actions is a separate question from whether customers felt blindsided by them. Multiple reviewers report both.

Positive reviews, where they exist, tend to cite ease of use, transparent published pricing, and the audited public-company structure as reasons for trust.

Negative reviews cluster around fee changes, unilateral account actions, and a lack of live chat support.

Market Context: Why the Fee Math Matters Right Now

Gold has moved a lot lately, which changes how the storage fee math actually lands for a new buyer.

Spot gold traded around $4,280 per troy ounce as of early August 2026, up roughly 26% over the past year according to Trading Economics data.

According to Goldmoney's own published research, gold gained 27.2% against the US dollar in 2024 and 64.6% in 2025, while silver outperformed both years, posting 21.5% in 2024 and 148% in 2025.

Over the trailing ten years, Goldmoney's data shows gold averaging 16.5% annual gains against the dollar, with even stronger relative performance against currencies like the Indian rupee and Japanese yen.

That price action matters for the account minimum problem. A $10 monthly minimum was a bigger drag when gold sat near $2,000 an ounce and a small holding shrank fast under fee pressure.

At $4,280 an ounce, the same dollar amount of metal now represents roughly double the ounces it did two years ago, which pushes more accounts past that $48,000 crossover point where the percentage fee, not the flat minimum, becomes the effective cost.

Rising prices haven't fixed the fee structure, but they've quietly made it less punishing for mid-sized accounts than it was during the lower-price years.

Pros and Cons

• Fully allocated, specifically identified bullion with no lending of client metal
• Publicly audited financials from a TSX-listed company
• Fractional bar ownership with no requirement to buy a full bar upfront
• Goldmoney Mastercard for spending directly against metal holdings
• $10 monthly storage minimum disproportionately hurts small accounts
• Physical delivery is expensive and requires meeting a full-bar minimum
• Review platforms show a wide, inconsistent range of customer satisfaction
• Multiple documented complaints about unauthorized vault transfers and account closures

Conclusion

Goldmoney works best for investors with mid-to-large holdings who want allocated physical metal without home storage, and it becomes expensive fast for small accounts stuck under the $10 monthly minimum.

Read the terms of service carefully before funding an account, since the company's authority to relocate or liquidate holdings has generated real customer complaints.