Could you lose it all in the blink of an eye due to our faltering economy? Despite claims that the economy is getting better, people just like you still end up losing everything they ever worked for day after day in these troubled times.
The good news is that with a gold IRA you can keep your assets safe and secure thanks to the services of a qualified IRA custodian.
In this Monex review we’ll see if this company has what it takes to help you protect your assets from the ravages of an unpredictable and unforgiving economy.
Services and Products
First of all it should be mentioned that Monex is NOT an IRA custodian.
Instead they function as something of a marketplace where you can buy and sell gold and other precious metals.
The main feature that Monex offers is their “live pricing” which supposedly helps you to make wiser decisions when buying and selling precious metals. However, if you’re not experienced when it comes to buying/selling precious metals all this info may go straight over your head.
Monex also offers various DVDs, apps and more on precious metals investing, the US economy, and various other related topics. There really is no shortage of products to buy from Monex.
Unfortunately Monex doesn’t seem to have referrals to any gold/precious metals custodians. This means that if you do buy from them you’ll have to figure out what to do with your purchase yourself.
In this section of this Monex review we’ll take a look at what customer are saying about the company so you can get a better feel for them.
This customer reports having a positive experience with the company:
“I have been doing business with Monex Credit Company for five years and in all of that time there has never been a problem with their business practices. My broker, Steve Thornbury, is very professional, courteous and efficient with every order transaction I submit.” – Alan B from TrustLink
This customer on the other hand claims that there are many hidden fees when dealing with them:
“They do not set correct expectations, they have a lot of misc fees that they don’t tell you about. They are also very shifty when you’re selling stuff back to them and they quote you one thing and deliver another.” – Michael D. from Yelp.com
This customer seems to have a similar complaint, claming that Monex allegedly scammed him out of a lot of money:
“The whole basis of this company is to scam every person they come into contact with. They scammed me out of 190k in 2008 and I became homeless as a result.” – Dan from Gold Dealer Reviews
Overall Monex’s scores are a mixed bag, while they do have quite a few low scores they also have a perfect score with TrustLink.
2.8/5 – Gold Dealer Reviews
1.5/5 – Yelp
4.1/5 – TrustLink
A+ – BBB
In the end Monex has a lot to offer but doesn’t function as a true gold IRA custodian, decreasing their appeal for some people. On top of that the negative reviews make some serious accusations and may give you pause about doing business with this company.
My final score for Monex is:
1/10 – as a gold IRA company
5/10 – as a precious metals dealer
If it weren’t for their negative reviews I could have given the company a higher score as a precious metals dealer due to the amount of products they offer and their interesting “live pricing.” However there just seems to be too much controversy surrounding Monex for me to really recommend them.
If you’re looking for a gold investment/IRA company that has an excellent track record when it comes to customer service, my #1 pick is defiantly Regal Assets.
Regal Assets has earned perfect scores with the BBB, BCA, TrustLink, and many others over its 50 years of business. In addition to that, it has only had 1 complaint in the past 3 years, something practically unheard of in the gold investment industry.
To learn more about Regal Assets Click Here and get your FREE gold investors kit to learn how you can protect your savings from hyperinflation, the dying US dollar, and more.