Precious metals are frequently recommended as part of a balanced investment portfolio. Whenever the economy goes through turbulent times, precious metals increase in value. They offer some level of security and protection against inflation. But not all precious metals dealers are created equal.
Hard Assets Alliance is an online precious metals dealer offering a variety of programs. When you make an account, you can log in and manage your holdings. You can also trade with thousands of different investors through their proprietary platform. But is it too good to be true?
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About Hard Assets Alliance
Hard Assets Alliance doesn't function like a regular precious metals dealer. Rather than selling people precious metals, they have created a platform that people can use to trade. There isn't a lot of information about who exactly is in charge of the company. Instead, the "alliance" is made up of dozens of smaller organizations.
These organizations say that they've come together because they want to make it easier for people to purchase precious metals. You should be able to buy metals, have them stored somewhere safe, have easy access to information about the holdings, and be able to sell or remove your holdings all with the push of a button.
Hard Assets Alliance is far from the only company to offer a platform like this. That's important to note because the company's reputation is not the best. There are plenty of other precious metals dealers that offer the exact same services without any of the baggage.
Hard Assets Alliance does list its members on the website. But rather than being the names of people, they're just the names of businesses and organizations. Some examples include Agora Financials, Casey Research, and Eagle Publishing.
The company is mainly backed by GBI, otherwise known as Gold Bullion International. GBI is a New York City company that runs the platform that Hard Assets Alliance uses for trading. Basically, Hard Assets Alliance has not developed any technology of their own. They're just using the technology that already exists and is also being utilized by their competitors.
Available Services
The biggest service that Hard Assets Alliance offers is their trading platform. You can sign up for an account and trade precious metals instantly. Since you get access to other individual and corporate sellers, you should be able to find the lowest price... in theory.
In practice, it's always a good idea to check the spot price of precious metals before you make any purchase. Even if it looks like a great deal on the app, it might not be. It's easy to find out how much precious metals are selling for on any given day of the week. Don't let yourself be fooled.
You can use the Hard Assets Alliance platform to purchase and sell various types of platinum, palladium, gold, and silver. There are also precious metals IRA services available through the company. For those who want to learn more about the benefits and risks of investment, you can read the free investment guide. It is called "Why Portfolios Perform Better Than Gold."
Types of Accounts
If you want to participate in the Hard Assets Alliance platform, you will need to make an account. This account is where you'll fund your precious metals trades. You can also arrange for storage and view your holdings. All of your metals are owned directly by you.
Supposedly, you can have your metals removed from storage at any time. You should also be able to withdraw funds from your account and transfer them to your bank when you liquidate any of your holdings. But there have been multiple customer complaints about this that have gone unanswered. Apparently several people have had trouble with withdrawals, liquidation, and refunds.
There are a few different types of account that you can invest in with Hard Assets Alliance.
Standard Account
According to the website, the standard account is the one that most people use. It is a popular way to access the precious metals trading platform and view your holdings. You can view dashboard reports about the growth and change in the value of your metals, and you can have your metals delivered directly to you whenever you want.
One of the benefits of the standard account is how versatile and simple it is. Getting signed up is easy. You also don't need to reside in the US, so the offer is open to international customers who want to invest in precious metals.
With a standard account, you're supposed to have a high degree of flexibility. You aren't bound to any contracts or agreements, so you can liquidate or trade your assets whenever you want.
Similarly, the company states that you'll get access to some of the lowest prices on the market. However, as mentioned, you should always double check the spot price of different metals prior to making a purchase.
Finally, the standard account is supposed to give you peace of mind. Since the metals are stored under your name, you aren't in danger of losing them if the company goes bankrupt. The storage vaults are also extremely secure and fully insured.
However, there are man