Monex is a family-owned business that has been in operation for over three generations. It was started when the US changed how they made coinage and the Carabini family recognized an opportunity.
The company ran into some major problems recently when they were sued for defrauding thousands of clients. The complaint says that they used high-pressure sales tactics and left many elderly customers without any life savings.
BBB Rating
Monex is a reputable firm that offers precious metals investment services. Its top management staff has years of experience in this industry, and most of them have an understanding of what makes a good precious metals investment strategy.
They also have a great relationship with notable IRA custodians and are rated highly on authority websites like the Better Business Bureau (BBB). However, there are some concerns about Monex Precious Metals that you should consider before investing. These include advertising and sales problems, long processing times and customer service issues.
Monex has received an A rating from Business Consumer Alliance, and a 4.2 out of 5 on Trustlink, which is based on 40 reviews total. They also receive a lot of positive reviews on Yelp, but that’s because they don’t have many negative reviews yet. They’ll likely get a higher score once more people post their reviews on the site. But, if you’re looking for a reliable company that has your back, Monex may not be the right choice for you.
Yelp Rating
Monex Precious Metals has been in business for more than 50 years. Nevertheless, it has received a few alarming complaints in the past, many of which involve rude customer service representatives and high prices. The company is also being sued for alleged deceptive and illegal marketing practices that cost some clients their life savings.
The Yelp rating for Monex is 4.2 out of 5 on their platform based on an average of 40 reviews. Obviously, these aren’t the best ratings they’ve ever received but it’s not bad for a company that has been around this long.
Review sites are a goldmine of information but it’s always a good idea to check out the site of choice before making any decisions about which companies you should trust. Consumer Reports takes its jobs seriously and ensures that every review is legitimate by using intelligent software to detect fake reviews, giving a “once over” to each review before it’s posted, and requiring each reviewer to leave their contact info.
Trustlink Rating
Monex Precious Metals is over 50 years old and has accumulated some of the best precious metals investment advice in the business. They also have a slew of accolades in other areas such as partnerships with notable IRA custodians and their high ratings on authority websites like the BBB.
There are some concerns, however, that you should know about before deciding whether or not to invest your hard-earned cash with Monex. One of the most important ones is how the company is rated by Trustlink, which rates how reliable companies are.
The good news is that Monex managed to get a decent score on the site, based on an average of 40 reviews. They didn’t score below 2.5 out of 5 and it’s likely they’ll have a better score when a few more are added to the mix.
Reviews
Monex is an online precious metals dealer that offers a wide variety of coins and bullion eligible for investment in a Precious Metals IRA. The company’s catalog includes several of the most popular bullion products, including the Gold American Eagle, Gold Canadian Maple Leaf, and Silver Austrian Philharmonic.
The company’s website also conveniently provides pricing based on current spot prices of gold, silver and platinum. This is something that not all dealers offer.
In addition, the Monex Atlas Account Program allows clients to receive discounted pricing. It also includes a monthly newsletter with topical articles on investing and precious metals.
The Monex website also contains an extensive video library containing educational videos on topics such as the Russian invasion of Ukraine, inflation, and government spending. These videos are often updated and can be a great resource for beginners and more experienced investors alike.
