“[...]virtually every customer who has invested with Monex on leverage has lost money.”


14. “Monex” is a precious metals firm that operates nationwide from Orange County. Its main entity currently operating is MDC. MDC acts as a principal and buys and sells platinum, gold, silver, palladium, and other precious metals to and from its customers. Monex allows and encourages its customers to make precious metal investments on leverage through so-called “Atlas Accounts.”

15. Throughout the class period, Monex has had thousands of customers throughout California and the United States. Historically and during the class period, virtually every customer who has invested with Monex on leverage has lost money.

[...]” – Kevin Walker v. Monex Deposit Company (2004-2009)


  1. Hello,

    I work for an attorney that has a case against Monex, and I’d like to speak with you at your earliest convenience. Could you please contact me?

    Thank you.

    • paul rector

      I lost $14,000 in one day. I only had $20K invested initially and traded almost daily for 18 months. This was in 2005 or 2006. Their attorney wrote I could not challenge their techniques as FTC did not regulate them at all. After arguing for about 2 years, I gave up, Do I have any chance to enter your class action?

      • I am aware of no Monex class actions currently pending. In truth, class actions rarely produce meaningful results for the class members. 7 – 20 years of litigation followed by a settlement for pennies on the dollar with a fortune going to the lawyers of both sides is a typical best case scenario. Worst case scenario, after 5 to 10 years the plaintiffs lose or settle for an amount that is so small that even the class attorneys end up regretting they ever heard of the defendants. Then only the defendants’ lawyers win.

        That they are not regulated by FTC is at least technically false. All business is regulated by FTC. What is true, however, is that FTC like all other U.S. government regulatory bodies is totally corrupt and totally worthless. So they might as well not be regulated by FTC. Certainly FTC isn’t doing anything to create an impression that there is any kind of active regulation going on. Isn’t it amazing how taxes in America can be so astronomical and yet the services your money supposedly pays for never seem to materialize when you need them? But at least when you get to driving too fast there’s always a cop around to keep you in line. Land of the sheep and home of the slave.

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