What Is Monex? (Is It A Another Scam?) (Updated 2022 Review)

March 22, 2022

What-Is-Monex

Welcome to my "What Is Monex?" review!

(UPDATED 2022)

Are you looking for a great precious metals dealer to buy products and avail services from?

Well, I am here to narrow down the companies to help you in your search! In this review, we will be discussing Monex. What are its products? What is Monex? Is it legit?

You are about to find out the answers here! Let's get started.

Monex Review Quick Summary

Name: Monex

Website: https://www.monex.com/

Owner: Carabini Family

Price: Varies depending on your investment

Rating: 3/5

What-Is-Monex

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What is Monex?

Monex is a precious metals dealer that has been operating for more than 50 years. It is family-owned by the Carabinis and is headquartered in California.

Ever since its creation, the original owner, Louis Carabini, along with his son, Michael and two daughters, Cristina and Anna Maria, are very active in the company.

This says a lot about the longevity of the company and how they value providing services and information to people.

Monex Products

Monex offers various kinds of gold, silver, platinum and palladium, both in coins and bullion.

Their website provides all the information about their products, which includes their updated price.

This is something that does not happen often because there are several precious metals companies that does not even disclose their prices upfront.

Monex Services

Apart from selling precious metals, Monex also buys products from you. You only need to contact them and then start negotiating.

Furthermore, Monex also offers IRA services to its clients! However, they are not an IRA custodian. Monex is simply an IRA precious metals dealer. But they will recommend you IRA custodians that they believe are more than fit to provide you services.

You can see below the process.

Monex steps to get started

Other services include the educational resources that Monex provides. Some of them are the following:

  • Live price charts
  • Mobile app for both iOs and Android
  • Video library
  • DVDs about precious metals
  • Market updates

How to get started?

The process is developed to be fast and simple. You only need to give Monex a call or just contact them.

Notify them that you are interested in buying precious metals from them. Then a representative will help you go through the steps!

Monex Prices and Fees

Knowing about a precious metals dealer's prices and fees is very important so that you will know your budget.

This is something that you won't have problems with Monex since its website provides all the prices and fees of all of their products and services.

You can simply visit their website and check it out. Moreover, Monex has an Atlas Account Program. Clients who avail this can receive discounted prices.

Ratings and Reviews

For a company that has been around for more than 50 years, I think it is inevitable to receive complaints, right? However, Monex kind of received more than just a few.

Here, you can see that its ratings are not that even impressive.

monex bbb rating
What Is Monex Sitejabber Rating

As for the reviews and complaints, there are others that are very alarming. For example, below, you can see that a past client claimed that he lost $150,000.

What Is Monex RipOff Report

Other reviews include how representatives are rude and that prices are actually higher than the other dealers.

What Is Monex Sitejabber Rating

Pros and Cons

Pros

  • Has been in business for a long time
  • Offers wide range of products
  • Provides educational resources
  • Website has a lot of information

Cons

  • Has alarming complaints and negative reviews
  • Not an IRA custodian
  • Ratings are not impressive

Is Monex a scam? - Final Verdict

Monex is not a scam. It is a legit company that offers products and services. Moreover, it has been in business for more than 50 years!

However, even though its longevity is impressive, there are still things that exist that makes Monex not the best firm for you. It received a lot of alarming complaints and negative reviews.

Moreover, its ratings are not impressive compared to its competitors. With that, I do not recommend you Monex. If you wish to know my top recommendation, check it out below.

Thank you so much for reading my "What Is Monex?" review! If you have any comments or questions, feel free to leave them in the comments section.

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 Questions? Call 855-444-7022


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