Site Review: Monex.com

By
Ed
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Monex is a brokerage specializing in precious metal trading. They offer brokerage for gold, silver, platinum or palladium. My personal experience in gold trading is limited to once buying a gold Krugerrand for my cousin’s graduation gift. But it looks like there is a huge market for this type of service online.

They offer a couple different ways to buy precious metal, including paying in cash and having it delivered to you, or you can have them store it for you. For some reason I’m thinking they must have some huge vault, like the ones you would see in a heist film.

Their site is fairly easy to navigate, and actually nearly passes W3C validation with only 4 errors. They definitely seem like more of an old school company. Case in point, check out the television in the picture on their homepage. It looks like the kind of TV my grandfather would watch Kojak on.

They also offer some free goodies like DVD’s on investing in the gold and silver market. And they offer a free print report on the silver market.

The site seems more targeted toward people who purchased gold in the past, which would make sense. I would like to see some more information in a simplified fashion for gold investing newbs, like how ETrade dumb down stock investing for me. I guess I would also feel more comfortable with a sort of shopping cart type feature on the site so that I could make a purchase right there for a Krugerrand or gold bar. I would just be curious on the shipping rate for buying gold bars. I can’t see UPS delivering my case of gold bars!

It would also make sense to have a blog about daily changes in the gold market. I have a decent understanding of what makes the stock market move, which is to say that I have figured out that there is no constant rules other than people buying on hype. And I know that there are factors that effect oil, like wars and tanker spills. But I don’t have the faintest idea what would make gold move up in price. Probably a pretty big gap in my education, but I’m guessing I’m not alone in this. It would be great to read a blog about things that are happening that could affect gold prices. That would probably make me more interested in buying it.

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11 COMMENTS

  5. MONEX – Beware!.. The said they had the gold coins, I paid the $10k, now after a couple of weeks they say they dont know when they will ship,…”They have a bunch of kids running around like chichken with their heads cut off” said Joe Petrucci the guy whoi scammed me into buying … He said he still hasnt gotten the coins He ordered,,,,
    BS operation, said they would cancel the order minus a ton of fees…

    MONEX BEWARE DONT deal with them!

  6. I SEND MONEX OVER $90,000 AFTER AN ORDER I MADE, THEIR SALESPERSON PROMISE THAT AFTER 10 BUSINESS DAYS I WOULD HAVE THE PRODUCT IN MY HANDS, IT HAS BEEN ONE MONTH SINCE THE ORDER WAS MADE, NOW THEY TELL ME THAT THEY ARE BEHIND ON SHIPPING THE ORDERS, IT IS OBVIOUS TO ME THAT THEY ARE SELLING AND TAKEN MONEY WITHOUT HAVING THE PRODUCT. BE CAREFULL. I AM GOING TO PROCEED WITH LEGAL ACCION, THEY ARE IN BREACH OF CONTRACT.

  8. Sent 10K money order to Monex in early October for gold bullion order. They said delivery would take three weeks. (2 weeks to clear the money order) After three weeks, I called. They said they were behind in there orders and my order would ‘probably’ ship later in the week. I called again after a week and, again, they said they were behind. Said I would have my order next week.

    I still don’t have my order 6 weeks after placing it. These guys are crooks who play with and steal money from innocent victims. I plan to give them one more week to deliver my order or return my money. Then, I plan to spend every waking hour making life miserable for the scum at MONEX. Stay away from these guys!

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