Monex Deposit Company Review
Monex Deposit Company Information
Credibility: I will discuss this in more detail in the history section, but Monex has been in operation for over 40 years and in that time has built up a reputation as one of the countries leading gold experts. Monex Deposit Company has a mix of reviews, either they are very good or they are very disappointing. They are a company with a long-standing and so it is inevitable that there will be a mix of opinions and views.
Website: www.monex.com – the website is a nice easy to navigate website. In their products section they have an extensive range of gold, silver, platinum and palladium. They also have an investors info section for you to find information concerning investing in gold.
Phone Number: 1-800-444-8317
Minimum Investment amount: Not clear
Buy Back: Not clear
- BBB A+ rating
- Family owned & the largest selection of gold and silver plus platinum and palladium to chose from.
- over 40 years experience dealing in gold
Monex is one of the longest standing gold providers in the US. Monex Deposit Company was founded officially in 1987 but the owner, Louis Carabini has been in the precious metals business since 1967, prior to a time when there were no gold providers, due to the 1933 federal law prohibiting the ownership of gold. The company is family owned, with three generations of Carabini family on the management team. Monex claim that over the past 40 years they have carried out a total of $40 billion in client transactions, with 80% of their business coming from repeat business from their database of existing clients. Monex is based in Newport Beach, California
Gold IRA Rollover
Monex does offer both gold and silver IRA. They do have a wide choice of gold & silver coins along with both types of bullion.You can get discounted prices on your purchases but only if you are a member of their Atlas Account program. One thing to bear in mind is that Monex offer their IRA’s through third party custodians. They don’t mention who they suggest, you have to call and arrange to be set up with one that meets your requirements. This not only delays the process but also when using third-party custodians, the annual fees are going to vary from one to the other and so it is going to be very difficult to know if you are saving money or losing money through higher fees.
Concerns/Things To Consider
There is no doubt that Monex is a firm with a long-standing and a good reputation, and therefore, I have no concerns about them as a company. The only thing you may want to consider, is if setting up an IRA, you will need to use a 3rd party custodian as I mentioned above.
Monex is one of the longest standing providers of precious metals, on the market, with a wide selection of metals on offer. As a gold IRA provider, they are using third party custodians. There are other companies out there that don’t use third parties and therefore have lower costs.
Which Company Do We Recommend?
- BBB Rating
- BCA Rating
- Trustlink Rating
- Setup fees
Regal Assets is the company we recommend and here is why:
- BBB Rating: A+ with 0 complaints in last 3 years see BBB results
- BCA Rating: AAA & 5 star rating based on 56 reviews see BCA results
- Trustlink Rating: 4.9/5 based on over 860 reviews since 2010 see Trustlink results
- Named 20th fastest growing financial services company in America in 2013, according to Inc. 500 magazine (click here to read press release)
Page updated 01/12/2016