CyberMetals: Buy Gold & Silver 17+

This is A-Mark’s (holding company for JM Bullion, CyberMetals, etc.) latest foray into creating an app to buy bullion. The first thing that I’ll say is that you can ignore the comments saying the app doesn’t work: it does since the “hard launch” in early April. That said: I still wouldn’t recommend this. Why? It solves a ‘problem’ that doesn’t exist. If you want to buy physical metals, I absolutely recommend JM Bullion. If you want to speculate on spot price swings, trade an ETF with no trading fees. However, this is an awkward middle solution. You’re paying a premium to buy & sell in addition to paying a quarterly vaulting fee. For that, you can’t even convert your nominal ounces to a specific physical product without moving to cash & paying the fees first, then using the cash to buy metal through JM Bullion. I’ve spent tens of thousands of dollars with JM Bullion, taken discreet delivery of hundreds of ounces of bullion without a single issue, but this product just isn’t worth it as of this writing. That said, it’s a cool concept & could be great if they put some effort into restructuring the pricing model, removing the fees, and allowing you to go directly from physical ounces to a specific product by just paying the premium.

The fees charged by CyberMetals are, in my opinion, usurious. I sold all my metals back to them, but they said I have to wait five weeks to actually get all my money back. Why? So they can use the cash from my account to earn money for themselves. This site is a ripoff, and I’ve been a huge customer of the parent company JM Bullion-but no more.

do not join this app they are the rudest people you could ever deal with. My father died two months ago. I had money in here. I sold it off a while back all it was all bought at the same time they released half of it and said I had to wait 45 days for the other half they told me to beginning of December that the 45 days from November 1 was the 15th, it wasn’t released I called back today. She says now I have to wait until tomorrow because she does not know how to count they are they rudest non-caring, uncompassionate company that you could ever deal with. They hold your money for 45 days no matter how you do it they say it’s just for credit cards but they do it for debit cards and any other way you do it do not join this company. There’s a better company out there called Glenn or GLINT they give you a debit card, and if you need your money, you can get it quicklystay away from this company