Monex Gold Reviews

CROOKED MONEX BEWARE! Last week I set up to buy 3X $1000 junk Silver Coinage using Tony **. After wiring some $167K in funds Tony Failed to do even reminded in calls at least 3 times the basics. Those were only to send a special form for me to fill out. Notify me with email when funds were received. Because of those failures My purchase was not be completed. Over the following days Tony failed to respond to emails at all and boss David (** sp????) refused to even assert customers have any right to notification of receipt of $167,000 or much much larger. He blamed me for not completing forms never sent as requested at least 3 times of Tony. That type of service is grossly inadequate and UNPROFESSIONAL AS WELL! The losses to me could easily be more than $50,000 on this one transaction where I was testing their system for bigger orders to come. B. **, M.D.

The money charged was refunded to me -- I am satisfied.

I bought about $3300 worth of silver coins or 11 pounds which was shipped to me in 2015. I was told very strongly that it would skyrocket. Here we are 5 years later and it’s worth about $3500. I called Derek to ask worth and to sell. He tried to sell me more and added that I didn’t have enough. That it’s about to go up! I said “really” that’s what you said 5 years ago and it’s not worth any more now”. He laughed and was very snarky. I asked to mail it back and he said he’d send me the boxes for return. A few days later I got more sales brochures and no return boxes. He called again to try and sell me more gold or silver and I asked where were the return boxes. His reply - “I’m in the selling business not returns.” I abhor people like him and pretty much told him that. Terrible sales technique!! Feels like you’re back in 1950 with the ** lines and pushy fast talking sales routine. Get a real job Derek and start telling the truth!

Years ago, I bought several coins from Monex. As a gift, they sent me 3 plastic enclosed 1oz platinum coins. I tried to sell them last week, only to find they weighed less than 1/2 oz and were silver plated copper to look like platinum.

After my mother died, I called Monex to sell back to them the silver coins she had bought from them, and taken physical delivery of. They flat out refused! They will not buy back their own coins! I used eBay to sell the Monex silver coins from my mother's estate.

If you are coming from the reputable broker world of Schwab, E-trade, Ameritrade, etc. beware that Monex is a totally different kind of outfit. Nobody here has your back. We began buying gold with advice from our Account Manager, Don **. After trust was established and our gold purchases were going ok, about a year in, we received a call one morning from ** very highly recommending that we buy a 'hedge' trade to protect our gold account against downturn. He called again the next morning to convince us to make the trade. Total cost of the trade described to us: $19,000. His advice had been ok so far, so we went with it.

I have been through four "broke-ers". Every single trade they emphatically suggested was a loss. Plus trade fees plus storage. They don't do ACH, so round trip funds take at least a week. I still have gold they sold me at 1600. Also they don't allow emails for some reason. Looking to close and leave.

PLEASE BEWARE. Monex does not send physical metal to HCSB. They charge for that. Monex brokers work on commission as to how much of client's account they can take; whether through margin calls on a fake number or other means. The Monex bookkeeping is mysterious at best. If you are going to do metals business, please consider many alternatives to Monex.

The salesman lied to me. Wouldn't let me sell my stuff and kept on selling and buying would cost me more and more to the point where he told me to short my gold and silver and it went up. Bad recommendations.

Tried to get through to a rep. Instead all I got was a litany of "too good to be true" sales pitches for services I have no interest in. It seems they have more interest in selling anything that will make them money rather than offer a modicum of customer service.