Report: #181635

Complaint Review: MONEX GOLD SILVER EXCHANGE - NewPort Beach California

  • Submitted:
  • Updated:
  • Reported By: San Antonio Texas
  • MONEX GOLD SILVER EXCHANGE 4910 Birch St NewPort Beach, California U.S.A.


*Consumer Suggestion: Gambling is gambling

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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!

San Antonio, Texas

This report was posted on Ripoff Report on 03/16/2006 06:17 PM and is a permanent record located here: https://www.ripoffreport.com/reports/monex-gold-silver-exchange/newport-beach-california-92660-8100/monex-gold-silver-exchange-ripoff-thieves-newport-beach-california-181635. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

Gambling is gambling

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

POSTED: 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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