Monex Precious Metals Review

Last Updated on April 10, 2023 by George

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Since 1987, Monex has been a player in the precious metals sector. They now have a wide selection of financial products. They are an excellent resource for finding gold, silver, platinum, and palladium.

Editorial Structure

Customer Care               
Ease of Purchase          

Overall Rating (4.0/5) 

Due to the high caliber of their services, repeat customers account for nearly three-quarters of their revenue. They have established a solid reputation in the community by providing competent service.

Before we begin this evaluation:

We know how challenging it is to choose a business you can entrust with your hard-earned savings. To offer you as much information as we can so that you can make the best decision, we produce informative and practical material.

To make comparing and selecting the company most suited to your needs as simple as possible, we’ve compiled a list of our highest-rated investment firms.

They started the business when the US modified how the nation minted coins. The creators of Monex understood an opportunity as part of this move, and therefore, they invested $1,000 in silver quarters and started the business in Long Beach.

After managing their father’s business for 20 years, the Carabani family founded Monex. They had been in business for more than 14 years until they were formally incorporated as Monex in 1987.

At this point, three generations of their family have owned the business. Over half of their employees have been on the company payroll for more than ten years.

Monex Ratings and Complaints

To find anything on Monex that is available, we searched through all the relevant sources. The BBB is among the most fantastic places to learn about a company’s track record. However, we’ve looked at more than just what they’ve said about them.

We visited the majority of reputable rating services and online directories. However, we have only incorporated those with information on Monex.


Monex received an overall grade of A- from them. That’s because they’ve only had one complaint in the past three years. They will immediately be eligible for an A+ rating on the BBB’s website after that has passed.


The Business Consumer Alliance has granted Monex; its top rating. We were looking for complaints lodged against them in the last three years on their website.


Trustlink rates the dependability of businesses, so you may decide whether to believe them. Fortunately, Monex managed to score 4.2 out of 5 on their platform, which is also based on an overall average of 40 reviews.


You’ve probably seen how harsh Yelp critics can be if you’ve glanced around at review websites. Monex received a minimum rating of 2.5 out of 5. After adding more reviews, they’ll have a higher score.


If you look at Monex’s Facebook score, they performed somewhat better. They had a 3.5 when we noticed where they were, which is not all. However, only a few individuals have reviewed them on Facebook.

Monex Products and Service

They primarily have precious metals and currency to offer. To safeguard your money securely, you can order metallic coins from them.

They’ve also created a service that allows you to draw money from your IRA to spend for investments. You might inquire whether they could invest in precious metals using your IRA account.

To store something in precious metals, you must do it through one of their custodians. Monex directly handles the metals component of your investment transactions, and the IRA component of your accounts must be under the control of another company.

When opening an account, each client must inquire about hiring a custodian. You must also pay any fees their third-party custodian’s charge for opening one of them.

Any fees should be noted so you may determine whether they are justified.

Working with someone who can set you up on a fixed-fee plan is generally preferable. In the long term, sliding fee schemes typically cost more, particularly for larger accounts.

Reasons Why You Should Consider an IRA

There are many benefits to opening an IRA at Monex and beginning a precious metals investment program. They will assist you in managing all the funds so you can control your retirement.

People adore working with them partly because they can still manage their accounts. Once you’ve invested, many retirement accounts give you a different level of control.

No ordinary taxes are due on any earnings accumulated in your IRA. Until you decide to remove them, they can continue to earn returns. You can choose payment in kind to further minimize your obligations.

They can provide you with everything you want to withdraw in bullion form. The fact that they have been made so available is the most excellent thing about them. Almost anyone can work with Monex and open a precious metals IRA.

Why Invest in Precious Metals

Since they first made the investment vehicle available, investing in an IRA has been wise. They have developed a simple method for putting pre-tax money into a beneficial account with increased purchasing power.

Investing with pre-tax funds allows you to utilize them without deducting as much from your paycheck. Before taxes are due, you can take anything you want out of one.

The advantage of precious metals IRAs is significantly higher. Most retirees investing for their future see their investments on a long time horizon. As a result, inflation is one of the scariest things for most people.

Because of this, investing in precious metals is a smart option, especially with IRA money. They have historically outperformed other asset types in terms of inflation. Even if it doesn’t happen frequently, assets have always had instances when they depreciate.

However, using precious metals as a medium of exchange has continued. As a result, you can wager on them as you might wager on other aspects of the economy. Certainly, they have a considerably longer track record than most other options.

Monex Precious Metals IRA

A tax-advantaged investment fund is known as an individual retirement account or IRA. You can invest money in them during tax season without incurring as much expense. So, investing using pre-tax money can result in higher returns.

Using a self-directed account while working with them makes working with them excellent. Additionally, you can invest some of your money in precious metals without removing them from your account.

If you attempt to engage with most IRAs, they will typically claim that they only permit paper investments.

Step 1
Contact one of the custodians Monex lists on their website to open an account. Remember to mention that Monex is your preferred dealer during the setting procedure.

Step 2
Move money from your standard IRA into your custodian account. They may not be able to trade for a few days, and they must completely pass Monex’s clearance procedures before you may access them.

Step 3
Call them to arrange a meeting to discuss buying precious metals. You can get help from their agents with any investments you want to make.

Step 4
As soon as you hang up the phone with your representative, they should inform your custodian of the information. Before starting new transactions, the custodian must access the purchase information.

Following the completion of your transaction and payment clearing, the metals ship to the custodian.


How to Buy Gold & Precious Metals at Monex

Only clients who can communicate over the phone can work with Monex. That is one method they have used to reduce fraud and safeguard consumer information. If you want to buy gold, call them and ask them to speak to an account representative.

Call them at their number during regular business hours to get in contact. They are typically open from 5:30 AM to 4:30 PM, Monday through Friday.

Before picking up the phone, ensure your clocks are set to Pacific time. When you phone their call center to speak with them, you will do so in that time zone.

Please wait until you have enough time to register an account with one of their custodians before attempting to communicate with them. Even if you have purchased from them, they cannot transmit gold directly to your residence.

Anything you purchase using IRA funds must be delivered to the custodian’s address.

Monex’s Educational Video Library

Only some are confident when learning how an investment works for the first time. Understanding the rationale behind why everything is set up the way it takes some time. To reduce challenges, Monex has created a range of instructional movies.

Many curators who have come before us have yet to come close to producing anything like this. Look at “A Better Future,” a Monex production. They created it so that clients would be informed about market activities.

The majority of them attempt to concentrate on issues that will influence changes in gold’s price. You should understand what is going on after watching a couple of them.

Additionally, they have created a range of information concerning silver and other metals. If something fascinating happened to your portfolio while you were away, you might keep an eye out to find out.

They did a fantastic job putting a week’s worth of information into an episodic structure.

Pros and Cons

Everything has advantages and disadvantages. The precious metals IRAs offered by Monex are no exception.


  • Spend pre-tax money on gold and silver investments.
  • Use a seasoned broker who can handle anything.


  • You must work with an authorized custodian and be unable to access your gold; you must buy metals from them.

Final Thoughts – Monex Precious Metals Review

It would be best if you began planning for retirement at a young age to ensure a comfortable and secure future. Otherwise, as the deadline approached, you’d feel the time needed to be on your side.

Investing in precious metals and leveraging pre-tax income are made possible through Monex. An authorized custodian can receive a transfer of funds from an existing IRA.

You can use them to buy gold and silver from Monex once they have cleared. You must be prepared to withdraw funds from the IRA before this has any tax repercussions.

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