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Report: #1155112

Complaint Review: Monex Credit Company - Newport Beach California

  • Submitted:
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  • Reported By: non-believer — Ocean New Jersey
  • Author Not Confirmed What's this?
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  • Monex Credit Company 4910 Birch St. Newport Beach, California USA

Monex Credit Company Monex Precious Metals Totally mislead me on parameters of Atlas Account Newport Beach California

*Consumer Comment: Report Monex Fraud to FBI

*General Comment: Report Monex Fraud to FBI

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 Iwas recently made aware that the Dodd-Frank bill may help me with my dilemma.If I had known back in 2011 that I was victimized I would have made a report back then. The Atlas account by Monex is a leveraged account and I was assured that the worst thing that could happen to me was that I would break even on my investment. What happened was quite the opposite.

I had done about five transactions with them and never had any trouble. On or about 9/16/11 ( I have the paperwork) The metals on the London exchange took a "hit." By 3:00 A.M. Eastern Standard Time I had lost $13,023.64. That combined with the time difference between Eastern time and California time would have meant that I would have had to sell my position at 12:00 A.M. Eastern time, a time when nobody is in their office. I was not notified that I lost all of my money until approx. 1:00 P.M. Eastern time.I was never told any of this, of course. Additionally, I believe that this was all a "paper silver" transaction, against the Dodd-Frank law, because it allows the metals company to never actually buy the silver but keep your money as if it had. Dodd-Frank law stipulates that you be provide with the serial number of your 1,000 ounce bar to prevent unscrupulous companiesfrom doing the obvious.I was never provide with a serial number as per federal law as required and I have the paperwork to prove it. I lost a smaller amount of money on one occasion and they "conveniently" couldn't find my rep.(Joe Tejeda) until it was too late.

I don't expect to recoup any of my money but I hate to think of this happening to another poor person who like myself can't afford tol lose it. Thank You in advance for any help you may afford me and please warn your readers to stay clear of Monex. Please feel free to contact me. Thank You.

 

Yours Truly,

Jeffrey Cxxxxxxxxx

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This report was posted on Ripoff Report on 06/16/2014 09:03 AM and is a permanent record located here: https://www.ripoffreport.com/reports/monex-credit-company/newport-beach-california-92660/monex-credit-company-monex-precious-metals-totally-mislead-me-on-parameters-of-atlas-acco-1155112. 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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#2 Consumer Comment

Report Monex Fraud to FBI

AUTHOR: DAVE - ()

POSTED: Thursday, August 07, 2014

You can report Internet fraud to the FBI at m.fbi.gov/#http://www.fbi.gov/scams-safe... or ic3.gov/complaint/default.aspx

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#1 General Comment

Report Monex Fraud to FBI

AUTHOR: CHARLES - ()

POSTED: Saturday, August 02, 2014
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