Complaint Review: Monex

monex broker justin dennis(actually a salesman) sold me bars of gold and silver bullion for $25,000. on margin. prior to purchase I asked if this was like commdies. NO was his answer. he stated gold had made a correction and ws at a bargain price and thiss was a perfect time to get in. he has been in the business 15 years and expected gold to raise rapidly! I bought, on his recomendation,2 bars of gold and 3 bars of silver.

when gold started to drop I called him and stated I felt it was time for me to sell before i lose any more on my purchase. "he stated he felt it was alittle preamture for me to do so!" stick it out gold will:rebound. weeks later I had a margain call and had to sell a bar of silver to cover the call. again I asked for his expertise on the matter. If it were his money he'd stay in as gold was making a correction. I foolishly stay with it.

gold kept declining. I finally decided to get out and called monex and sold everthing I owned. figuring I may have lost 6 or 7 thousand dollars I was shocked to find I had lost $18,000. dollars.

I complained to monex via this brokers superviser that I was misled by justin dennis and was extremely upset he gave me some underling who informed me I was in control of my account and mr. dennis would never advise or suggest a form of action. I am sure Monex knows exactly what mr. dennis duities are. Sell contracts get a commission. nothing more.

Clayton
chicago, Illinois
U.S.A.