Monex Deposit Company
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 top gold investment companies. Monex Deposit Company has a variety of reviews, across the various companies online.
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
What The Web is Saying About Monex Deposit Company
Below we’ve looked at what various websites and past customers have to say about Monex Deposit Company
- BBB Rating: A+ (Click For Details)
- BBB Complaints: 7 complaints in the last 3 years (Click For Details)
- BCA: AAA (Click For Details)
- BCA Complaints: 1 complaints in the last 3 years (Click For Details)
- CitySearch: Not Rated
- Facebook: stars based on 1 review (Click For Details)
- Google+: Not Rated
- RipOff Report: 8 Reports (Click For Details)
- Trustlink: 4 stars based on 40 reviews (Click For Details)
- Trustpilot: N/A
- Yellow Pages: 1 star based on 3 reviews (Click For Details)
- Yelp: 3 stars based on 26 reviews (Click For Details)
Buy Back: Not clear
- BBB A+ rating
- Family owned & the largest selection of gold and silver plus platinum and palladium to choose 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, which is very impressive, with 80% of their business coming from repeat business from their database of existing clients. They are based in Newport Beach, California.
Monex does offer both gold ira rollover 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 of course means that you won’t know the fees until you speak with each custodian, because the annual fees are going to vary from one to the other and so you will need to check if you are saving money or losing money through higher fees.Alternatively, you may want to consider one of the gold ira companies that offer an all inclusive fee, if you are on a tight budget.
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, but they certainly are amongst the best gold ira companies you will find.
Monex Deposit Company Review Summary & Score
Monex is one of the longest standing providers of precious metals, on the market, with a wide selection of precious metals on offer. As a top 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.