- 23 Aug 2021
- Precious Metals
- Comments: 0
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Plenty of precious metals dealers are based in the US, but it's harder to find companies overseas. Indigo Precious Metals is a Singapore-based precious metals dealer that works with a global clientele. They use Singapore's unique tax laws to ensure that their clients get tax-free storage options in the country.
Now, tax free storage sounds like a great deal. But is this actually the best country in Singapore? And how do they compare to some of the top global competitors on the market? We've taken a look at everything that Indigo Precious Metals has to offer.
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About Indigo Precious Metals
Indigo Precious Metals is a global dealer of precious metals that operates in Singapore, which is a tax haven. Unlike many other dealers, the main focus of this group is to provide tax-advantaged storage for clients all over the world. No matter what requirements your government has for declaration, Singapore can help you with offshore asset storage.
Indigo has been in business since 2014. The founder is precious metals expert David Mitchell, who combines a career in precious metals with financial analysis. He has garnered praise for his ability to analyze and explain different global market factors.
Clients for IPM come from all over the world. The company's products include investment level precious metals that have low premium costs. Each client also gets access to important advice regarding how to protect your assets from taxes, economic crashes, and other instability. Whether you're a new investor or an experienced one, the company aims to make precious metals investment easy and accessible.
The company has an eCommerce website online, which allows you to make purchases through the online marketplace. If you're not sure what you want to buy, though, you can also call the specialist team. These employees can listen to your concerns and give you advice based on your investment needs and goals.
Discussions with the specialists are done through a secure credit account. This allows you to keep your information private as you consider your future options and put together an order.
IPM is known for being a reliable global dealer of precious metals. They have offices located in three different countries, and the company has garnered a solid reputation in each one. The company's network allows them to work with a variety of different investors, including everyone from high net worth institutions to average people with small retirement accounts.
The low premium pricing is part of why clients often go to the company, but the advice is why they stay. The company's experts can devise an investment portfolio for you that makes the most of your assets while still securing your wealth in the right precious metals. They will explain the risk levels of different choices and help you decide what's best.
Products and Services
A product catalog is available on the IPM website. They offer the usual gold, silver, palladium, and platinum. Unlike most other dealers on the market, though, they also offer rhodium.
Rare Earth Metals
The company does offer a rather unusual investment opportunity. You can use their marketplace to purchase rare earth metals. While these aren't traditional precious metals, they are chemical metals that are important to different manufacturing industries.
For example, these metals might be important for electronics like computers and phones, satellites in orbit, power sources like batteries, and even alternative energy sources like wind turbines. No matter what type of modern technology you prefer, rare earth metals are probably involved in some way.
Rare earth metals aren't actually as rare as precious metals. They exist in abundant quantities on the earth. But they're considered "rare" because they have qualities that make them difficult to mine. Humans have to face perilous journeys in order to get their hands on them.
The company recommends using rare earth metals as a small portion of your strategic metals investment plan. Though they're rather inexpensive, there is the potential that they could increase in value as demand goes up. Like with the precious metals products, you can use the secure vault storage for these.
The rare earth metals currently available for purchase include:
Because most of these metals aren't considered rare, you only need a couple dollars to invest. People who like collecting cool rocks might also be interested in the opportunity.
Private and Secure Storage
As mentioned, Indigo Precious Metals has a chief focus on the offshore storage of their clients' holdings. Singapore is a tax haven, so you can keep your precious metals in their vaults without declaring them to your government. The country is politically stable, and the vaults are given state of the art security.
The facilities are outfitted with the most modern, cutting-edge security technology. There are armed guards patrolling the space 24 hours a day, 7 days a week. Full body scanners are used to make sure you don't try to conceal your identity or any weaponry. The remote access doors prevent potential thieves from accessing the vaults. There are even backup systems in case the power goes out.
The company wants to be sure that every client is confident that their metals are safe. Clients are also given the highest level of discretion and privacy. If you own any metals in the IPM vault, the upper management has sworn not to reveal your private details to anyone.
Since the facility is set up in the free trade zone of Freeport, you can buy and sell precious metals without needing to pay any taxes whatsoever.
While the Singapore vault is the best one for people who want to store their items offshore with no tax liability, it's not the only storage option. There are also two other company vaults in Sydney and London. The company doesn't have any vaults set up in North America at the moment.
If you're an Australian or from the UK, and you want to invest with a company whose vault is close to you, you can do that. You can even make purchases from the UK and Australian vaults, which will reduce the shipping time. Just keep in mind that you might be liable for taxes with these options.
The company does send items all over the world. If you decide that you want your metals at home rather than kept in vaulted storage, you can have them internationally shipped. IPM will ship to Canada, America, South America, Europe, Oceania, Australia, and all of Asia.
It's not highly recommended that you keep precious metals in your home. A secure facility is a much safer place for them. In addition, depending on your location, you might have to pay import taxes and other fees when the metals go through customs.
No matter where the package is being shipped to, it will be fully insured for the value of the items. You can get your money back if it's lost in transit.
The company is relatively transparent about its pricing. When you visit the website and browse the catalog, you can see the prices of each product in real time. These are updated every few minutes by an algorithm that adjusts the value based on the shift in global market forces.
The prices are built around data regarding financial futures predictions. Every three minutes, the algorithm calibrates again and the prices refresh. These price updates will continue as you shop. When you check out, you'll see the final price of the item, which might be different from when you put it in your cart.
In this way, the company avoids springing hidden fees on people. Your price isn't locked in until you have confirmed your purchase.
The company has stated that their weekend prices are slightly higher than their normal prices. They add a premium charge to whatever the last price was on Friday. This is because Monday is the beginning of a new week, and there's never any telling whether the market will be volatile.
Because of the premium product pricing, if the company didn't do this, they would risk selling at a loss at the beginning of the week. Their margins are thin. They only add this premium on the weekends, so if you buy on the weekdays, you don't need to worry about any added pricing.
As soon as the Sydney market opens on Monday morning, the pricing goes back to normal, so you don't have to pay the premium.
The company has also posted advice regarding the times of day at which the liquidity of precious metals tends to drop. Their algorithm has a feature built in that will analyze these factors and adjust prices accordingly. If there is a higher demand for precious metals, you might see higher prices. If there's a lower demand, the price will lower accordingly.
The company will not allow people to cancel their orders after having confirmed their purchase. This is because they undergo a lot of risk to lock in the price and accept the consumer payment. If the consumer then backs out of the deal because of a price drop, the dealer will lose money.
If you confirm your purchase, you are legally required to send your payment and receive the precious metals. People who want to cancel their orders must pay for their metals and then sell them back to IPM at a loss. The company is extremely upfront about this policy to keep people from doing things they might regret.
Buyback pricing is available on the website for people whose metals are stored in the Singapore or London vault. You must be a prior customer of IPM. The company does not purchase metals from people who are not customers.
Is Indigo Precious Metals a Scam?
Indigo Precious Metals is not a scam. They are a legitimate company with an international presence. Third party websites report excellent customer feedback, with many consumers being extremely satisfied by their experiences.
The positive feedback is a sign that this company does what it sets out to do. Not only do they provide excellent storage and delivery options, but they also give people advice that makes them feel empowered.
On Facebook, the company has a 5 out of 5 rating, indicating universally positive reviews. They also have positive reviews on Feefo. It's difficult to find reviews on common third party sites like Trustlink, but that might just be because of IPM's Philippines location.
Pros and Cons of Indigo Precious Metals
All in all, Indigo Precious Metals is a solid company. It sticks strongly to its mission and has the reputation to prove it. The company's vaults are located in Singapore, Australia, and the UK. They have garnered an excellent reputation in the precious metals markets of all three countries.
This is a good option if you're looking to invest your assets in tax free storage. Precious metals provide a hedge against inflation, offer security when the stock market is volatile, and have opportunity for growth with relatively low risks.
However, there are a few things you should keep in mind before deciding to invest.
First of all, the company doesn't offer any precious metals IRAs. IRAs are a United States phenomenon, and IPM isn't interested in learning the intricacies of US tax law. So if you want to open a gold IRA and invest using your retirement assets, it's better to go with a specialized company.
Another thing to consider is how far your items will ship if you purchase from an international vault. If you live in the same country as the vault, this might not be a huge issue. But you will be responsible for things like tariffs, taxes, and other customs fees when the metals arrive.
It's always best to research your country's import laws before buying expensive assets from overseas.
Although we do think that Indigo Precious Metals is a solid company, we believe that there are better companies out there to make your investment with.
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