• Report: #181635

Complaint Review: MONEX GOLD SILVER EXCHANGE

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  • Submitted: Thursday, March 16, 2006
  • Last Posting: Friday, March 17, 2006
  • Reported By: — San Antonio Texas
MONEX GOLD SILVER EXCHANGE
4910 Birch St NewPort Beach California 92660-8100 U.S.A.

MONEX GOLD SILVER EXCHANGE RIPOFF THIEVES NewPort Beach California


1Author 1Consumer 0Employee/Owner

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I lost $10,400 to a dishonest broker ED SPEERS with Monex. He bought Silver and shorted the market while silver went UP! He Sat and watched it as I lost 70% of my live savings.MONEX is not regulated by US Government or any legeal Brokrage intinty.

I filed a complaint with the (BBB) Better Business Bureau of Orange County California. I noticed (11) other complaints on the company and the (BBB) rated MONEX with an (F)!I asked for an investigation and Herbie Coachman/Compliance Officer with MONEX stated "At the very least you got BAD SERVICE". After the investigation they felt it was my fault for trusting their Broker who was giving me FALSE updates.

ED SPEERS is a dishonest man MONEX is not listed in California with the Board of Corporations which pulled their charter in 1992. I cant find a single organization who regulates MONEX.

The are Liars and Conmen STAY AWAY!

Chris
San Antonio, Texas
U.S.A.

This report was posted on Ripoff Report on 3/16/2006 6:17:57 PM and is a permanent record located here: http://www.ripoffreport.com/corrupt-companies/monex-gold-silver-ex/monex-gold-silver-exchange-rip-2df5m.htm.

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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
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#1 Consumer Suggestion

Gambling is gambling

AUTHOR: Doug - Houston (U.S.A.)

SUBMITTED: Friday, March 17, 2006

If $10,400 is 70% of you life savings then why would you be investing in something as high risk as shorts in the silver market?

The volitility of precious metals together with the risk of buying options on precious metals is not something one should do with their "life savings".

Mutual funds would be a much better option in your case.

MONEX was way off base to lure an investor such as yourself into suck a high risk venture.
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