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Questions? Call (626) 605-3152Monex Review (2026): Prices, CFTC Settlement, Gold.com Ownership and IRA Options
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Last Updated on: 10th November 2026, 11:34 am
Monex is one of the oldest names I have tracked in this business. I first priced coins on its live board years ago, and it is still one of the few big dealers that shows you a bid and an ask before you pick up the phone. This review covers what changed in 2026 (Monex now belongs to Gold.com), what the 2022 CFTC settlement means for buyers, and how its pricing and IRA process work today.
Monex posts two-way bid and ask prices for its bullion coins and bars. Compare them, and ask for the commission in writing, before you buy.
| Company | Monex Deposit Company (Monex Precious Metals) |
| Founded | 1967 (original coin shop); Monex Deposit Company incorporated 1987 |
| Headquarters | 4910 Birch Street, Newport Beach, California |
| Owner | Gold.com, Inc. (NYSE: GOLD) since January 2, 2026 |
| CEO | Michael Carabini |
| Products | Gold, silver, platinum and palladium coins and bars, mostly standard bullion |
| Gold IRA | Yes, through a third-party custodian you choose |
| Pricing | Live bid and ask posted online; commission charged on top |
| Regulatory | 2022 CFTC consent order: $33M restitution, $5M penalty |
| Ratings | Trustpilot 4.9/5 (4,049 reviews); BBB A+, accredited |
Monex has a lot going for it: more than 50 years in the business, a bullion-first catalog, live two-way prices on its website, a 4.9 Trustpilot score from over 4,000 reviews and, since January 2026, a NYSE-listed parent in Gold.com. On those factors alone it would score 3.8.
Our method caps any company with a regulatory finding or settlement involving misrepresentation at 2.0, and the 2022 CFTC consent order qualifies: Monex paid $38 million after the order found its leveraged Atlas program was sold without disclosing that most customers lost money. That case did not involve standard IRA bullion purchases, but it was about sales practices, so the cap applies. We will re-check this rating as Gold.com builds its own record with Monex.
Score breakdown (dealer method): pricing and product focus 3.5, customer reputation 4.9, transparency, leadership and marketing 3.5, fees, minimums and account options 3.0, longevity and track record 3.5 = 3.8 before the cap; capped at 2.0 for the 2022 CFTC consent order. Last verified November 2026. See how we rate gold IRA companies.
Regulatory History: The 2022 CFTC Consent Order
What happened: In December 2022, Monex Deposit Company, Monex Credit Company, Newport Services Corporation and owners Louis and Michael Carabini agreed to a CFTC consent order that ended a case the agency first filed in 2017.
- $33 million in restitution to customers plus a $5 million civil penalty
- The case centered on Atlas, Monex's leveraged trading platform, which ran from July 2011 to August 2021
- The order found that Monex promoted profits without disclosing that most of its leveraged customers lost money
- The defendants are barred from registering with the CFTC for 10 years and permanently barred from off-exchange leveraged retail metals deals
This case involved leveraged trading, not standard cash or IRA bullion purchases. It still matters, because it was about how Monex sold to retail customers.
Company History and Ownership
Monex traces its roots to 1967, when Louis Carabini opened a small coin shop in Long Beach, California. Monex Deposit Company itself was incorporated on February 17, 1987, and the company now runs from 4910 Birch Street in Newport Beach. Monex says its customer transactions have topped $70 billion over the decades.
The biggest change in the company's history came this year. Gold.com, Inc. (NYSE: GOLD), formerly A-Mark Precious Metals, closed its purchase of Monex on January 2, 2026, according to Gold.com's closing announcement. The deal was valued at up to $53 million. Gold.com reported that Monex had $835 million in revenue in 2024 and $630 million in assets under custody as of September 30, 2025.
Monex Management Team
For most of its history Monex was run by three generations of the Carabini family: founder Louis, his son Michael and his granddaughter Christina. After the sale, Michael Carabini stayed on as CEO and President of Monex, now inside a publicly traded parent. I like that the people running the company are named and easy to look up. I have seen too many gold IRA firms that never tell you who owns them.
Third-Party Ratings at a Glance (2026)
Monex has a large, very positive review base on Trustpilot. BBB shows an A+ rating but no customer reviews yet, so it is excluded from the reputation average (our minimum is 10 reviews).
| Platform | Rating | Details |
|---|---|---|
| Trustpilot | ⭐ 4.9 / 5 | 4,049 reviews, rated Excellent; 306 in the last 12 months. Complaints mention slow sale proceeds and buyback rules |
| BBB | ⭐ A+ (accredited) | Accredited since August 31, 2026; 0 customer reviews; 2 complaints in the last 3 years, none in the last 12 months |
A 4.9 average across thousands of reviews is hard to fake, but read the one-star reviews too. They cluster around how fast sale proceeds arrive and how buybacks are handled, which are the two things I would ask about up front.
👍 Pros of Monex
- Live two-way bid and ask prices posted online, updated about every 60 seconds
- Catalog built around standard bullion: Eagles, Maple Leafs, Buffalos, Philharmonics and bars
- Trustpilot 4.9 from more than 4,000 reviews
- More than 50 years in business, now backed by NYSE-listed Gold.com
- Leadership is named and public, and there are no paid celebrity spokespeople
- Buys back IRA metal and returns the proceeds to your IRA
👎 Cons of Monex
- 2022 CFTC consent order: $33M restitution and $5M penalty over misleading sales of its Atlas leveraged program
- Commission is charged on top of posted prices and the rate is not published
- No in-house custodian or published IRA fee schedule
- Posted quotes assume 10-coin gold and 100-coin silver lots
- Some complaints about slow sale proceeds and buyback rules
- New ownership since 2026, so policies may still change
How a Monex Precious Metals IRA Works
Monex is a dealer, not an IRA custodian. You open a self-directed IRA with a third-party custodian, name Monex as your dealer, and Monex sells the metal into the account. If you are moving money from a 401(k) or another IRA, read my step-by-step gold IRA rollover guide first so the transfer stays tax-free.
- Open the account: set up a self-directed IRA with one of Monex's recommended trustees or custodians and designate Monex as the dealer.
- Fund it: roll over or transfer money in. The custodian contacts Monex once the funds clear.
- Buy: call your Monex account representative and choose IRA-eligible coins or bars.
- Store: Monex ships the metal to an IRS-approved depository titled to your IRA. Home storage is not part of the process.
Custodian and Storage Options
Monex leaves the custodian choice to you, and its IRA FAQ says custodian and storage fees are billed by the custodian and depository, while Monex prices only the metal. That is flexible, but it also means Monex publishes no all-in IRA fee schedule. Before you sign anything, compare a few of the gold IRA custodians we have reviewed, such as Equity Institutional, and the IRS-approved depositories they work with. Older Monex materials pointed customers toward Brink's vaults.
When you want out, Monex runs a two-way market: it buys back IRA metal, coordinates with your custodian and depository, and returns the proceeds to your IRA as cash.
Monex Products
The Monex catalog is mostly standard bullion, which is what I want to see from a dealer. Before buying anything, learn the difference between proof, uncirculated and bullion coins, because proofs cost far more per ounce of metal.
| Metal | IRA-eligible examples at Monex |
|---|---|
| Gold | American Eagle, American Buffalo, Canadian Maple Leaf, Vienna Philharmonic, 1 oz, 10 oz and 1 kilo bars |
| Silver | American Eagle, Canadian Maple Leaf, Vienna Philharmonic, Britannia, 100 oz and 1,000 oz bars |
| Platinum | American Eagle, Canadian Maple Leaf, 10 oz bars |
| Palladium | Canadian Maple Leaf, 10 oz bars |
Monex also sells Krugerrands, Kangaroos, its own Monex Silver Eagle rounds and 90% and 40% junk silver. Krugerrands and junk silver are fine for a cash purchase but do not qualify for an IRA.
Monex Pricing: What the Live Board Shows
Monex is one of the few big dealers that posts live two-way prices, updated about every 60 seconds during market hours. Here is what its live price board showed on November 10, 2026:
| Product | Bid (Monex buys) | Ask (you pay) | Bid-ask spread |
|---|---|---|---|
| Gold American Eagle (1 oz) | $4,063.40 | $4,229.20 | 3.9% |
| Silver American Eagle (1 oz) | $53.95 | $56.15 | 3.9% |
| 10 oz gold bar | $40,404.00 | $41,056.00 | 1.6% |
| 10 oz platinum bar | $15,410.00 | $15,690.00 | 1.8% |
| 1,000 oz silver bar | $51,532.00 | $53,208.00 | 3.2% |
Read the fine print: these quotes are per coin for 1 oz coins, assume units of 10 for gold, platinum and palladium and 100 for silver, and do not include commission. Monex does not publish its commission rate, so ask for the all-in price per ounce in writing before you commit. Bars carry the tightest spreads on the board.
Education and Research
Monex has always put real effort into content. Its video library runs to hundreds of clips on inflation, central banks and metals markets, and its news section pulls excerpts from outlets such as Reuters and Barron's every week.
Monex has also offered free reports, including “Silver on the Horizon” and “A Better Future with Precious Metals”, written for Monex by CPM Group managing partner Jeffrey Christian, author of Commodities Rising.
Who Monex Fits, and Who Should Look Elsewhere
After more than 20 years of watching this industry, my take is simple. Monex fits an experienced buyer who wants a big, long-running dealer with posted two-way prices and who will push for the commission in writing. It is a weaker fit if you want a published all-in IRA fee schedule, a single point of contact for custodian and storage, or a dealer with a clean regulatory record. In those cases, look at Noble Gold for a full-service IRA setup or Silver Gold Bull for low posted premiums.
Monex Contact Information
- Company: Monex Deposit Company (a Gold.com company)
- Address: 4910 Birch Street, Newport Beach, CA 92660
- Toll free: 800-997-2703
- Website: monex.com
Before you invest: contact at least 2 or 3 companies and compare all-in prices. Gold and other precious metals pay no dividends and can lose value. Nothing on this page is financial advice: speak to your financial advisor and do your own due diligence before you buy.
See how the leading gold IRA companies compare in 2026, with fees, minimums, custodians and ratings side by side.
Monex FAQ
Is Monex legitimate?
Yes. Monex has operated since 1967, Monex Deposit Company was incorporated in 1987, it holds an A+ BBB rating and a 4.9 Trustpilot score from more than 4,000 reviews, and it is now owned by NYSE-listed Gold.com. It also settled a CFTC case in 2022 for $38 million, which is why our rating is capped at 2.0.
What was the Monex CFTC settlement about?
In December 2022, Monex and owners Louis and Michael Carabini agreed to a consent order requiring $33 million in customer restitution and a $5 million penalty. The case involved Atlas, a leveraged trading platform Monex ran from 2011 to 2021, and found that Monex promoted profits without disclosing that most of those customers lost money. The defendants are barred from CFTC registration for 10 years.
Who owns Monex now?
Gold.com, Inc. (NYSE: GOLD), formerly A-Mark Precious Metals, closed its acquisition of Monex on January 2, 2026. Monex operates as a wholly owned subsidiary, and Michael Carabini remains CEO and President.
Can I open a gold IRA with Monex?
Yes. You open a self-directed IRA with a third-party custodian, name Monex as your dealer, fund the account by rollover or transfer, then buy IRA-eligible metal through a Monex representative. The metal goes to an IRS-approved depository, and the custodian and depository bill their own fees.
Does Monex charge a commission?
Yes. The prices on the Monex live board do not include commission, and Monex does not publish its rate. Ask for the all-in price per ounce, including commission and shipping, in writing before you place an order.
What is a Monex Atlas account?
Atlas was the Monex account platform at the center of the CFTC case. Its leveraged trading ran from July 2011 to August 2021, and the consent order permanently bars Monex from off-exchange leveraged retail metals deals. The live price board still lists Atlas preferred prices for some bars, so ask exactly how an Atlas account works today before you open one.
Can I sell my metals back to Monex?
Yes. Monex runs a two-way market and buys back metal, including metal held in an IRA. For IRA sales it coordinates with your custodian and depository, and the proceeds go back into your IRA as cash.
Why does Monex get a 2.0 rating when its reviews are so strong?
On pricing, reputation, transparency, fees and longevity, Monex scores 3.8. Our published method caps any company with a regulatory finding or settlement involving misrepresentation at 2.0, and the 2022 CFTC consent order meets that test.
Contact Us if You Own or Represent Monex
If you work for Monex and see anything in this review that is inaccurate or out of date, please get in touch. I update company reviews regularly and will correct anything that can be verified.
Gold: $4,055.49
Silver: $51.95
Platinum: $1,558.49
Palladium: $1,032.82
Bitcoin: $74,339.01
Ethereum: $2,092.74