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Drawing on my own experience as a forex trader, I always prioritize regulation, transparency, and client protection when evaluating any broker or trading platform. In BullionVault’s case, the primary risk that stands out for me is their lack of regulation by any recognized financial authority. This absence means there is no external oversight to audit their operations or ensure client funds are managed according to strict, enforceable standards. Even though BullionVault implements certain protective measures, like segregated trust accounts and using major banks for client deposits, I am acutely aware that, without regulatory backing, my recourse would be limited if the company ever faced financial trouble or ceased operations unexpectedly. Another area that gives me pause is BullionVault’s complex fee structure. For anyone who values cost certainty, understanding all applicable commissions, currency conversion, and storage rates is essential before funding an account. This complexity can make it difficult to predict total trading costs, particularly for less experienced investors. Furthermore, BullionVault does not provide a demo account—something I personally lean on to get comfortable with a platform’s interface and order execution flow before risking real funds. Considering these factors, the lack of regulatory protection and fee structure transparency are, to me, the most significant drawbacks. If safety of capital and accountability are as important to you as they are for me, these are risks to weigh carefully.