Site Review: Monex.com

By Ed on November 22nd, 2006 at 3:41 pm

Monex is a brokerage specializing in precious metal trading. They offer brokerage for gold, silver, platinum or palladium. My personal experience in gold trading is limited to once buying a gold Krugerrand for my cousin’s graduation gift. But it looks like there is a huge market for this type of service online.

They offer a couple different ways to buy precious metal, including paying in cash and having it delivered to you, or you can have them store it for you. For some reason I’m thinking they must have some huge vault, like the ones you would see in a heist film.

Their site is fairly easy to navigate, and actually nearly passes W3C validation with only 4 errors. They definitely seem like more of an old school company. Case in point, check out the television in the picture on their homepage. It looks like the kind of TV my grandfather would watch Kojak on.

They also offer some free goodies like DVD’s on investing in the gold and silver market. And they offer a free print report on the silver market.

The site seems more targeted toward people who purchased gold in the past, which would make sense. I would like to see some more information in a simplified fashion for gold investing newbs, like how ETrade dumb down stock investing for me. I guess I would also feel more comfortable with a sort of shopping cart type feature on the site so that I could make a purchase right there for a Krugerrand or gold bar. I would just be curious on the shipping rate for buying gold bars. I can’t see UPS delivering my case of gold bars!

It would also make sense to have a blog about daily changes in the gold market. I have a decent understanding of what makes the stock market move, which is to say that I have figured out that there is no constant rules other than people buying on hype. And I know that there are factors that effect oil, like wars and tanker spills. But I don’t have the faintest idea what would make gold move up in price. Probably a pretty big gap in my education, but I’m guessing I’m not alone in this. It would be great to read a blog about things that are happening that could affect gold prices. That would probably make me more interested in buying it.

Tagged with: gold