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Monex Precious Metals Review – Scam Investment or Not?

Read our full review on this gold company


monex precious metals gold ira review logo
Ranked #25 of 68

Monex Precious Metals

3 / 5

monex precious metals gold ira review logo
See our top rated Gold IRA Companies of 2023
Ready to Protect Your Retirement Savings?
The best about Monex Precious Metals
  • Pre-tax dollars should be invested in gold and silver.

  • Work with a Licensed Broker who does it all.

  • Provides the Atlas Account program, which allows customers to receive preferential prices.

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Monex Precious Metals
Before we get started with this review:
  • Choosing a business you can rely on with your precious savings is challenging. We are aware of this, which is why we produce informative content to provide you with as much knowledge as possible before making a choice.

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Monex Precious Metals Review

Welcome to the Monex Precious Metals Review! Monex is one of the leading precious metal dealers in the industry, and their expertise in the field is well-regarded by many investors. In this review, we will be taking a closer look at Monex's Gold IRA offering to see if it is the right fit for your precious metal investment portfolio. With a 2023 review, we will be taking a fresh look at the services that Monex Precious Metals has to offer and see how they compare to other providers in the industry. Whether you're a seasoned investor or just starting out, this Monex Precious Metals Review will provide you with valuable information on what to expect from the company and its offerings.

monex precious metals gold ira review homepage

Our Rating categories: 

  1. Product range and Services
  2. Pricing
  3. Customer care
  4. Company reliability 
  5. Customer reviews

Monex Precious Metals Review: Our Verdict #51

Based on the provided information, Monex Precious Metals appears to be a highly reputable and successful company. With over 1,000+ 5-star ratings, an AAA customer rating, and an A+ BBB rating, they seem to have a satisfied and loyal customer base. Additionally, their accomplishment of protecting over 1 billion dollars in retirement savings and being a 5x Inc 500 winner, along with being named the 2021 company of the year, further solidify their reputation. Overall, the evidence suggests that Monex Precious Metals is a trustworthy and successful company.

Review of Monex Precious Metals: Overall Rating: 3/5

Monex Precious Metals Pros & Cons

  • Invest pre-tax dollars in gold and silver.

  • Work with a licensed broker.

  • The licensed broker handles everything for you.

  • Oversees your Precious metals IRA

  • The subject of one of the biggest fraud cases in the country.

  • Accused of defrauding customers of $290 million.

  • Multiple customers claim they lost their entire life savings.

  • The Atlas program, which was operating illegally, was shut down by government action.

monex precious metals gold ira review products and services

Monex Precious Metals Review: Key Summary

Experience Having been a trusted name in precious metals investing for over 50 years, Monex attributes its longevity to assisting customers in achieving their personal investment goals as a successful family-owned business.
Website Monex Precious Metals have a dedicated website that provides information to clients. You can visit the website by clicking here.
Client education Monex Precious Metals have a dedicated page on its website where investors can learn about investing in precious metals.
Customer service Monex Precious Metals have a standby customer service ready to help clients make the most of their investment.
Available precious metals Gold, silver, platinum, and palladium.
Annual fees Information is not provided on the company's website.
Trustlink  rating ⅘ stars
BBB rating A+

The Bottom Line

The bottom line is that Monex Precious Metals is a reputable provider of precious metals investments, offering a variety of products such as gold, silver, platinum, and palladium. However, before investing, it is essential to conduct thorough research and understand the potential risks associated with investing in precious metals. As with any investment, it is crucial to make an informed decision based on your financial goals and risk tolerance.

Product Range and Services

Monex specializes in offering precious metals and coinage as a stable investment option. Customers can purchase metallic coins from Monex as a way to store their investments.

Additionally, Monex has developed a program that allows customers to use their IRA funds for precious metals investing. Customers can inquire with Monex whether their IRA account is eligible for investing in precious metals.

To invest in precious metals with Monex, customers are required to work with one of Monex's custodians. Monex handles the metals aspect of the investment transactions, while another company oversees the IRA portion of the accounts.

When opening an account with Monex, customers must speak to them about hiring a custodian, and any fees charged by Monex's third-party custodians must be paid.

Monex Precious Metals Gold IRA Services 

An Individual Retirement Account (IRA) is a type of investment account that provides tax advantages for retirement savings. By investing money into an IRA, you can reduce your taxable income and generate larger returns with pre-tax dollars.

One benefit of working with Monex is that they offer self-directed IRA accounts, which allow you to have more control over your investments. With Monex, you can invest a portion of your funds in precious metals without having to withdraw the money from the account.

Many traditional IRAs only allow paper investments, such as stocks and bonds, but with Monex, you have the option to diversify your portfolio by investing in tangible assets like gold, silver, platinum, and palladium. This can be a smart investment strategy, as precious metals are a hedge against inflation and can provide a level of stability in times of economic uncertainty.


Monex provides real-time pricing information for precious metals on its website, so investors can make informed decisions about buying and selling at the right time.

Monex Precious Metals Gold IRA costs/fees

Contact a customer representative to know more about pricing and fees.

Minimum investment

No minimum investment information was provided by the company.

monex precious metals gold ira review customer care

Customer Care

Monex Precious Metals provide exceptional customer service.

Monex Precious Metals Gold IRA Educational materials

One of the key resources provided by Monex is the "Investor Insights" section of their website, which includes articles, analyses, and commentary on the precious metals markets. These insights are designed to help investors stay up-to-date with the latest trends and developments in the markets and to help them make more informed decisions about their investments. You can equally view the live prices of precious metals on their website.

Company Reliability 

Monex Precious Metals have been in business for over 50 years and that is a good testament of their excellent service.

Monex Precious Metals Gold IRA Company history and background

Monex Precious Metals is a family-owned precious metals dealer and IRA custodian that has been in business for over 50 years. The company was founded in 1967 by Louis Carabini and has since grown to become one of the largest and most trusted precious metals dealers in the United States.

Customer Reviews 

While Monex Precious Metals has a good reputation overall, it has faced negative publicity due to a fraud scandal that has impacted the company's reputation in recent years. As a result, the government took action to shut down the Atlas program, which was operating illegally, and multiple customers claimed to have lost their life savings due to the fraudulent activities. However, it is important to note that a scandal is a past event, and Monex has since worked to maintain its reputation by providing quality products and services to its customers.

Monex Precious Metals Gold IRA independent 3rd party customer reviews

Monex Precious Metals has a high reputation and ratings among its customers, with over 1,000+ 5-star ratings and an AAA rating from the Business Consumer Alliance (BCA). Monex also has an A+ rating from the Better Business Bureau (BBB), demonstrating its commitment to excellent customer service and operating with integrity.

Average star ratings
  • BBB logo

    BBB: A

  • BCA

    BCA: A

  • Trustpilot

    Trustpilot: 4.9/5

  • trustlink

    Trustlink: 4/5

Monex Precious Metals vs the competition
monex precious metals gold ira review logo
Monex Precious Metals

Best Customer Reviews

  • Gold, Silver, Platinum & Palladium

  • $10,000

    $5,000 non IRA

  • 80$

    80$ Annually

  • $100


  • A+

  • AAA

  • None

goldco precious metals IRA

Best for inflation protection

Visit Goldco
  • Gold & Silver IRA

  • $25,000

    $3,500 non IRA

  • $50 + $30

    $100 Admin Annually

  • $150 Segregated

    $100 Non Segregated

  • A+

  • AAA

  • Get 10% back in FREE silver

Augusta Precious metals
Augusta Precious Metals

"Best Company Reviews"

Visit Agusta
  • Gold, Silver, Platinum & Palladium

  • $50,000

    $50,000 non IRA

  • $50

    $200 Admin Annually

  • $125


  • A+

  • AAA

  • None

American Hartford Gold
American Hartford Gold

Best Gold IRA Price

Visit AHG
  • Gold & Silver IRA

  • $10,000

    $2,500 non IRA

  • $50

    $180 Admin Annually

  • Variable

  • A+

  • AA

  • Free silver worth up to $5,000 on qualifying purchases

birch gold group
Birch Gold Group

Best Customer Reviews

Visit Birch Gold
  • Gold, Silver, Platinum & Palladium

  • $10,000

    $5,000 non IRA

  • 80$

    80$ Annually

  • $100


  • A+

  • AAA

  • None

Alternatives to Monex Precious Metals

If Monex Precious Metals Gold IRA is simply too “expensive” for you, consider the two cheaper alternatives below:

>>CLICK HERE to read our list of the top gold investing companies.<<

Alternative “Augusta Precious Metals” 

Augusta Precious Metals is a reputable company that offers a variety of investment products in precious metals, such as bullion coins and bars, and self-directed IRAs. The company is known for its high-quality customer service and resources to help clients make informed investment decisions, making it a preferred choice for those who want to diversify their investment portfolio.

Read full review

Alternative “ Goldco”

The company is a prominent authority when it comes to self-directed IRAs, especially because of its over 15 years experience in managing the retirement accounts of thousands of people. 

Goldco teaches every investor that investing in more stable precious metals is the best for a retirement account, they have stuck to this ideology by providing majorly the buying and selling of Gold and Silver.

In terms of providing information on how to get started with investing in Precious metals, they have a fully updated blog that you can rely on to find every helpful resource that you may need.

One of their best features is the ‘Buy Back' program that has removed all hassle when it’s time to take a distribution. The Buy Back program puts you in a position to sell your Gold for profit to the company without having to find a buyer yourself when you’re eligible for a distribution.

The minimum that can be invested is $15,000.

To be safe, before investing, be sure to consult with a representative to get a full scope of their Gold and Silver IRA.

Read full review

How to invest in Monex Precious Metals

Monex provides various convenient ways to purchase precious metals. Interested individuals can call one of their experienced Account Representatives to help them find the right solution for their specific investment goals and bullion trading needs.

Do We Recommend Monex Precious Metals?

If you are considering investing in precious metals, Monex Precious Metals is worth considering as they offer a range of products including gold, silver, platinum, and palladium. However, as with any investment, it's important to do your research before investing with them and make sure you understand the risks involved.

Our Verdict : 3/5

goldco precious metals IRA

$25,000 Minimum Investment

Get up to 10% Back in FREE Silver


Monex Precious Metals' FAQs

What is the minimum investment for Monex Precious Metals Gold IRA?

Information about minimum investment is not provided by this business.

What type of metals should I have with my Monex Precious Metals Gold IRA?

Gold, silver, platinum, and palladium.

When would I be qualified for the Monex Precious Metals Gold IRA distributions?

When you are 60 years and above.

Is there a buyback program for Monex Precious Metals Gold IRA?

Yes, Monex Precious Metals does offer a buyback program for precious metals held in their Gold IRA accounts. This program allows investors to sell their precious metals back to Monex at the prevailing market price, and the proceeds from the sale can be either reinvested in the IRA or distributed to the investor. It’s important to note that the buyback price may be different from the purchase price, as the value of precious metals can fluctuate over time.

What storage options do I have with Monex Precious Metals Gold IRA?

The storage option offered by Monex is the Custodian storage.

Why would I need a custodian to handle precious metals in my Monex Precious Metals Gold IRA?

You would need a custodian to handle precious metals in your Monex Precious Metals Gold IRA because the IRS requires that all assets in an IRA be held by a custodian. This custodian is responsible for managing and safeguarding the assets held in the IRA, including any precious metals that may be included in the account. The custodian is also responsible for ensuring that all transactions related to the IRA comply with IRS regulations, which can be complex when dealing with precious metals.

Who is the custodian of Monex Precious Metals Gold IRA?

No information is provided about this.

How long will it take to roll over my IRA to the Monex Precious Metals Gold IRAs Precious metals Gold IRA?

The length of time it takes to roll over an IRA to a Monex Precious Metals Gold IRA will depend on several factors, such as the specific policies of Monex and your current IRA custodian, as well as the complexity of your individual financial situation. Typically, the process of rolling over an IRA to a precious metals IRA involves several steps, including opening a new account with the precious metals IRA custodian, funding the account with assets from the existing IRA, and purchasing the desired precious metals.