Monex Reviews & Complaints: Customer Ratings
Monex is a precious metals investment company based in Newport Beach, California. This company specializes in buying and selling precious metals to retail clients. Monex is known for offering a variety of products including gold, silver, platinum, and palladium in forms like coins, bars, bullion rounds, and collectibles. It has an average rating of 4/5 on Focus on the User.
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Featured Reviews
Top Review
Featured
"Monex is a great company, Brandynhad my order delivered one week before promised.He gave me a great price on Silver and Gold bars.Can not say enough good about the..."
Read ReviewsTop Complaint
Featured
"Be very wary of this company.I purchased $9,000 in silver bars - they sent USPS to an obscure, very hard to track address that was a zip code only!!!And not my address..."
Read ComplaintsWhat is Monex?
Monex Precious Metals, also known as Monex Deposit Company, is a private financial services firm established in 1987. It operates primarily as a bullion dealer in the United States. The company's main activity involves buying and selling precious metals, including gold, silver, platinum, and palladium. These products are offered in various forms such as coins, bars, bullion rounds, and numismatic collectibles. Monex sources its products from mints worldwide, catering to a broad client base interested in precious metal investments.
Monex Reputation
Top Monex Reviews
Featured"Monex is a great company, Brandynhad my order delivered one week before promised.He gave me a great price on Silver and Gold bars.Can not say enough good about the service and attitude. Brandyn ext. is 2394 Call him for some great service."
Featured"I dealt with very professional people who guided me through the process.My timing with the gold investment was great.I doubled my money.My timing with the silver purchase couldn't have been worse.Fortunately, I do not have to sell for a number of years, so hopefully silver will recover. As far as REVIEWING Monex, I can't give them blame or credit for the results of my investment.I can only say they were helpful, clear in their process, and everything went beautifully during the purchasing process. I would definitely work with them again."
Featured"Great company to biz with. No nonsense or pressure.Consultative professionals.Wish i would have doubled my order last year."
Worst Monex Complaints
Featured"Be very wary of this company.I purchased $9,000 in silver bars - they sent USPS to an obscure, very hard to track address that was a zip code only!!!And not my address.Took a lot of sleuthing and filing a claim with the US postal Inspector General’s office to find out where shipment went.They stonewalled saying they didn’t know how my order got mis-shipped when in fact it had already been sent back to Monex for failure to deliver. Truly believe if federal agent from Inspector General’s office had not gotten involved they would have continued stonewalling and eventually fighting any suit I would have filed in civil court.David Gala in particular just smells of a con artist. He wanted badly for me NOT to file a claim with USPS. But was only threat of federal investigation that suddenly silver was found and re-sent."
Featured"I bought silver on leverage with Monex for many years and ended up losing tens of thousands of dollars from margin calls. I will never forget the name of the con artist I dealt with; a slick talker named Bradford Cullison and I think there was one before him too but I can't remember his name. Steer clear of this rip-off company. If you have to deal with them, just buy gold or silver bullion with cash and TAKE DELIVERY of the metals."
Featured"Don't invest with these people! Their financing plan is a joke, their margin call deadlines are BS and they falsely report income to the IRS. We received a 47k tax bill from the IRS because they said we under reported our income in 2016, in reality, we made a whopping $500 on our investment and MONEX reported that we made over 100k. Since that time we've lost about 10k on our investment and once again they falsely reported gains to the IRS. They're more trouble than they're worth and I don't trust them at all! You're better off putting your money into a savings account or a shoebox in your closet."
Is Monex a Scam?
Monex is not a scam. It is a legitimate precious metals investment company with an established history dating back to 1987. The company's average rating of 4/5 on Focus on the User reflects its credibility and standing in the industry.
Monex Pros and Cons
Pros
- Offers a wide selection of precious metals in different forms, catering to various investment needs.
- Over 50 years in the business, indicating experience and market presence.
Cons
- Past legal issues involving the owners, Louis Carabini and Michael Carabini, may raise concerns.
Monex Services and Products
Monex offers a comprehensive range of services and products for precious metal investors. These include:
- Gold: Available in forms like bullion, various coins including Gold American Eagles, and Canadian Maple Leafs.
- Silver: Includes silver bullion, coins, and other collectible items.
- Platinum and Palladium: Offered in various forms for investment and collection purposes.
Monex FAQ
Is Monex a reputable company?
Yes, Monex is a reputable company with over 50 years in the precious metals industry.
How long has Monex been in business?
Monex was founded in 1987.
Who is the owner of Monex?
Monex is owned by Louis Carabini and Michael Carabini.
How does Monex work?
Monex buys and sells precious metals, offering various products to retail clients.
Before Investing With Monex
Consider obtaining . This resource can assist in making informed precious metals investment decisions.
Contact Monex
For those seeking to contact Monex, customer service details and social media accounts are provided below.
- Address: 4910 Birch St, Newport Beach, CA 92660, United States
- Phone: 1(949)752-1400
- Founded: 1987
- Alternative Name: Monex Precious Metals
- Business Contacts:
- Louis Carabini, Founder
- Michael A Caribini
- Category: Precious Metals Investment Company
Monex Compared to Top Gold IRA Companies
While Monex provides Gold IRAs as one of their many services, below are listed the leading Gold IRA companies specializing in Gold IRAs:
Noble Gold Investments 4.9/5 Rating
Patriot Gold Group 4.9/5 Rating
Orion Metal Exchange 4.9/5 Rating
Advantage Gold 4.8/5 Rating
Goldco 4.8/5 Rating
American Hartford Gold 4.8/5 Rating
American Bullion 4.8/5 Rating
Birch Gold Group 4.5/5 RatingThese Gold IRA companies are ranked and compared here on Focus on the User so you can review the top Gold IRAs.
Other Companies Offering Gold IRAs as a Service
How Focus on the User Rated Monex
Our Gold IRA team at Focus on the User rated Monex based on reviews from online sources, which resulted in an average rating of 4.6/5. It's important to review and compare other companies that also specialize in Gold IRAs.
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