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Last Updated: November 19, 2023
Have you been considering investing in precious metals? Whether you purchase privately or through precious metals IRAs, many advantages exist.
We want you to know everything possible about this gold investment platform so you can decide if it is worth your time.
Gold and other precious metals are becoming increasingly popular. People are worried about the future because of high inflation and stock market drops.
Gold has remained a safe haven investment throughout history because people flock to it during economic uncertainty.
Before using OneGold, you must learn more about the platform and its operations. Read until the end of our report, and we will provide you with our final assessment.
We will let our readers know if we recommend this dealer or urge you to steer clear of them.
OneGold is a precious metals dealer that primarily operates through its mobile platform. The company specializes in precious metals like gold, silver, platinum, and palladium.
You can access this platform in the United States, Switzerland, the United Kingdom, and Canada.
The company was founded by APMEX, one of the world's most trusted precious metals companies. OneGold offers a unique option for precious metals investing, but is it all hype?
APMEX and Sprott combined their efforts to form OneGold. The combined 50+ years of experience between these two industry giants has made OneGold a top precious metal dealer.
OneGold seeks to streamline the process of investing in precious metals. Investors can buy precious metals 24 hours a day using the mobile app. We will go into greater detail about the mobile app later in this review.
OneGold is located at:
226 Dean A McGee Avenue
Oklahoma City, Oklahoma
Checking out customer reviews is critical for learning about a company. You should never choose a precious metals dealer with a poor customer rating. Always research consumer review sites and dig up as much as possible about a precious metals company before investing.
We visited the Better Business Bureau first. We found the company has been accredited since 2018. OneGold has an A+ rating and 3.5 stars out of 5 based on 12 customer reviews.
There has been one closed complaint in the last three years and one in the previous 12 months. The complaints revolved around hidden fees, promotional gold problems, and a lack of customer service.
Our next stop was Trustpilot, where we found OneGold with more complaints and dissatisfied customers. The company currently has a poor rating with 2.6 stars out of 5 based on five customer reviews.
The biggest complaints on Trustpilot revolve around high fees and locked accounts. Customers claim the company locks their accounts often and takes forever to get them unlocked.
Others complain about lost money. Some reviewers say the company easily accepts your money, but it is very difficult to cash out.
OneGold has 4.7 out of 5 stars on Google Reviews. At the time of this writing, the company has 155 customer reviews. Quite a few negative reviews have been posted recently, including one that says the company is a scam and the good ratings are fake. We cannot confirm if the reviews are fake.
Reviewers are concerned because of the hidden fees. One reviewer said OneGold does not tell you they charge a 12% commission when you sell. Other reviewers said the company took half their precious metals and money.
Although positive reviews are mixed with negative OneGold reviews, we are concerned about our findings. We only report on verified reviews and check with reputable companies to ensure we get factual information about the OneGold platform.
We realize there is good and bad with every company. You will never find a perfect dealer in the precious metals industry. Weigh the pros and cons to see how well OneGold can serve your investment needs.
OneGold is a legitimate company. Although they have not been around for many years, they were formed by two trusted industry leaders, APMEX and Sprott. Just because a company is legit does not make it the best company to handle your precious metal investments.
OneGold offers access to gold, silver, and platinum vaulted products. When investing in OneGold, you invest in digital assets backed by vaulted gold. Every product is insured by Lloyd's of London.
OneGold regularly releases an inventory audit. These vaulting reports help strengthen customer trust by showing the precious metals OneGold has available in its vaults. You can read the full details of their monthly reports from the website because they are made public.
It is easy to get started with OneGold. All you need to do is follow these steps, and you can soon buy and sell gold, silver, and platinum. You can also invest in precious metals IRAs through OneGold.
The OneGold mobile app is available on Android and Apple devices. You only need to download and log into the app using your credentials.
You can use the OneGold app to monitor your precious metal investment performance, check the OneGold marketplace, and buy and sell on the go. Many people use the app to manage their investment portfolio.
Through the app, you can set up custom alerts to inform you of when precious metal prices reach your desired numbers. Even if the market is closed, you can buy gold, silver, and platinum through the app.
The app also offers up-to-the-minute spot price information and daily market news for gold, silver, and platinum products. Most OneGold enthusiasts prefer using the app over the website because it is more intuitive and easy to use while on the go.
Your OneGold account gives you access to your digital assets 24 hours daily. Purchase gold anytime you like and get low storage fees. Download the app from the Google Play Store or the Apple Store at your convenience.
OneGold partners with multiple storage companies, including APMEX, Brinks, Loomis International, and CNT. OneGold customers are only charged a small fee of $5 per quarter for storage fees.
OneGold promises to offer a best-in-class experience in the online marketplace. Their unique company stands out because they buy gold, silver, and platinum directly from wholesalers and pass the savings on to their customers.
Another factor that makes them different is their approach to competitive pricing. It is unheard of in the industry to store gold and silver for so cheap.
You can make money with OneGold, but it is not in any way guaranteed. Your ability to make money will depend on the performance of your invested precious metals. Past performance shows over the last ten years, gold has provided a 10.9% average return, while silver's annual returns hover around 13.4%.
It is not difficult to cash out with OneGold, but some customers have complained because they say the company makes a considerable profit percentage on each sale. You must visit the withdraw section when you decide to sell your gold and silver.
You can withdraw from a wire transfer, bank wires, or personal check. OneGold will review and approve your withdrawal request, though there may be a waiting period.
You can cash out at any time using the app. You will need to select your payment method and wait for approval. Your cash out will be based on the current gold and silver spot price of your precious metals purchased.
Your financial future is something you should protect carefully. You likely have many questions about opening a free account with OneGold and investing in precious metals. The following are some of the most commonly asked questions about OneGold.
OneGold is a legitimate company, but that does not mean they are perfect. OneGold focuses on providing digital assets to its customers and charges a small storage fee to hold physical metal.
Once you decide to cash out, the company will charge a certain percentage, with some customers saying it is around 12% of the sale price.
Customer assets are available for cash out at any time with a bank transfer, and they can purchase physical gold in small increments as low as one gram.
OneGold is FDIC insured. The cash balance in your OneGold account is held in a Wells Fargo Bank and is FDIC-insured.
You will not have to worry about a loss if your money gets stolen. You also do not have to worry about storing gold because it will remain in a secure vault until you decide to cash out.
OneGold works by allowing users to invest in precious metals at a low price. You can buy and sell on the OneGold website or the mobile app.
Your gold, silver, and platinum products are stored securely using one of several storage partners, including the Royal Canadian Mint and Loomis International. The secure vaults are protected with Lloyds of London's full insurance on all investment platforms.
Customers also take advantage of a low platinum storage rate. Storage fees average around $5 per quarter, but the storage fee goes higher when adding precious metals in large numbers.
Check with OneGold for their current gold storage rate and silver storage rate for the latest information since it can change without warning.
You can withdraw your precious metals cash balance from OneGold by visiting the withdraw section and putting in a request. You can receive your cash via a check, bank account wire, or wire transfer.
According to the OneGold investment platforms, most withdrawal requests are processed within one business day. You must wait longer on the weekends and holidays, so plan your cash outs accordingly.
Depending on your bank, the funds will typically post to your account within one to two business days after OneGold sends it out from their online platform.
We were excited to hear about OneGold when they arrived on the alternative asset management scene. We saw them being talked about in daily market news and on other investment platforms and decided to dig a little deeper to learn as much as possible so we could pass on the information to our readers.
Yes, the digital assets-backed company offers a unique service that appeals to many, and their minimum storage fee is affordable.
Although there are many positive reviews, many negative ones also concern us. Some people believe OneGold is a scam.
OneGold was formed by two reputable companies, so we expected the best. Unfortunately, we have seen too many negative reviews about the trading platform and OneGold IRA services.
We cannot recommend OneGold to our readers because we feel there are better options that offer improved customer satisfaction. We urge you to consider alternatives like American Hartford Gold and Goldco.
No matter which company you choose to invest in alternative assets with, we encourage you to research and look for competitive prices. Ensure your gold is stored safely and according to the IRS rules if you invest in gold with your retirement accounts.
Gold and other precious metals offer excellent investment potential because of their intrinsic value. Investing in gold with your eligible retirement accounts or rolling over to a gold IRA allows you to take advantage of tax benefits. Keep a check on your average daily balance to monitor your retirement accounts and see how your investments are paying off.