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Monex Review
4.8 Overall Rating
Customer Care
Price
Reliability
Ease of Purchase
Bottom Line
Monex is a long-established precious metals dealer that lets investors buy and sell gold, silver, platinum, and palladium in various forms. The company offers secure storage, IRA-eligible options, and personalized support to help clients diversify and protect their portfolios with physical precious metals.
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About Monex
Monex Deposit Company (also trading as Monex Precious Metals) is a U.S.-based bullion dealer specializing in buying, selling, and investing in gold, silver, platinum, and palladium. It operates solely as a precious metals dealer and is not an IRA custodian. Since its inception, Monex has facilitated over $70 billion in customer transactions.
As a precious metals marketplace, Monex’s primary function is to help investors buy gold, silver, platinum, and palladium–available as coins, bars, bullion rounds, and collectibles from various metals. Whether you’re looking to purchase a single piece of bullion or invest in larger quantities, Monex offers flexible volume options. Its inventory includes many popular and valuable precious metal products from around the world.
Beyond transactional and financial services, Monex provides downloadable educational materials, reports, and market insights to support investor decision-making. These can be helpful for investors looking to diversify their portfolios. Monex Account Representatives guide customers through transactions and remain available throughout the process for questions.
Pros
- Displays real-time ask, spot, and bid prices online and in its app to enhance user experience
- Offers sell-back even for metals not originally purchased from Monex
- Extensive educational resources, reports, and market insight
Cons
- Does not publicly display full fee schedules, such as premiums or transaction fees
Gold and other precious metal IRAs are an investment and carry risk. Consumers should be alert to claims that Monex’s customers can make a lot of money in these or any investment with little risk. As with any investment, you can lose money, and past performance is not a guarantee of future performance. Consumers should also obtain a clear understanding of the fees associated with any investment before agreeing to invest.
How to Buy Gold With Monex
To purchase, browse Monex’s inventory of gold, silver, platinum, and palladium. Live bid and ask prices are displayed online, and purchases are placed by calling an Account Representative, who then confirms details on a recorded line. For those investing in precious metals for the first time, Monex’s representatives offer guidance.
Once you select products and quantities, call an Account Representative to place your order. They will confirm purchase details on a recorded call. After payment, you can opt for shipping to your home or secure storage via a depository.
How to Sell Gold With Monex
To sell, contact a representative who will give you instructions on how to send your metals to Monex. Every precious metal investor can leverage the “Monex Buy Back Program,” whether or not you bought from the company originally, and because of this, many investors consider Monex a legit option for selling precious metals.
After delivery and inspection, Monex authorizes the sell-back, confirms the transaction on a recorded call, and disperses funds. You will receive your disbursement funds within 48 hours.
Monex Costs
Monex displays metal premiums alongside spot prices, but other cost details, including transaction or service fees, are not publicly disclosed.
Spot prices do fluctuate frequently. For example, as of September 2, 2025, Monex’s spot price per gold ounce was approximately $3,529.00, silver was $41.01, platinum was $1,411.00, and palladium was $1,143.00.
Specific shipping fees are not publicly listed on the website. Standard terms indicate packages are insured in transit, but customers should check directly with their Account Representative for current shipping cost details.
| Type | Price (per ounce) |
|---|---|
| Gold | $3,529.00 |
| Silver | $41.01 |
| Platinum | $1,411.00 |
| Palladium | $1,143.00 |
| Type | Price |
|---|---|
| Gold American Eagle Coins | $3,731.16 |
| American Buffalo Gold Coins | $3,753.60 |
| Gold Canadian Maple Leaf Coins | $3,693.42 |
| Type | Price |
|---|---|
| Silver American Eagle Coins | $4,537.03 |
| Monex Silver Eagle Round Coins | $4,340.66 |
| Silver Canadian Maple Leaf Coins | $4,384.41 |
| Type | Price |
|---|---|
| Platinum American Eagle Coins | $1,618.74 |
| Platinum Canadian Maple Leaf Coins | $1,557.54 |
| Type | Price |
|---|---|
| Palladium Maple Leaf Coins | Call for pricing |
*Price accurate at time of update
Monex Complaints
Monex is not accredited with the Better Business Bureau (BBB). Historical government actions (such as the 2017 CFTC fraud charges) remain documented, and consumers are encouraged to research this history before opting into precious metals investing.
While some customer reviews question whether Monex is a scam, the company has been in business for decades and remains a recognized name in the precious metals industry.
However, Monex maintains a positive reputation on consumer-reviewed sites like Trustpilot, where it boasts a 4.9-star rating and more than 3,500 reviews.
Monex FAQs
No, Monex itself does not offer storage but does provide delivery to a secure depository or to your home.
Metals outside of IRAs can be stored as the customer sees fit. Deliveries are discreet and insured during transit until delivery.
Monex is not an IRA custodian. To include precious metals in an IRA, you must work with a custodian/trustee and designate Monex as the metals dealer. Monex representatives then assist with purchasing and delivering IRA-eligible precious metals.
Monex operates an approximately 11-hour trading day for live pricing and two-way markets. For customer service hours, contact a representative directly.
Customer reviews of Monex’s services are generally positive, with many investors praising the company’s knowledgeable representatives, smooth transaction process, and reliable buyback program. However, some reviews mention concerns about limited fee transparency and the risks inherent to precious metals investing. As with any investment company, experiences vary, so it’s best to research carefully and compare options before opening an account.
Conclusion
Monex provides a streamlined, two-way online and phone-based marketplace for buying and selling precious metals. A Monex account, or trading account, gives investors access to key market insights and price charts via the mobile app. It does not offer portfolio management or custody services. Investors should review educational resources and consult with an Account Representative, or a custodian if pursuing IRA usage, before making any purchases.