The Metal Exchange Review: Lack of Information Creates Facade
If you want to retire and live a comfortable life, it’s essential that you set up an Individual Retirement Account. Unfortunately for many investors, most are worried about their IRA accounts because most investments are based around paper-backed investments. With the devaluation of the dollar becoming increasingly acknowledged by leading financial analysts, it’s no wonder why baby boomers and other retirees are worried about their retirement funds.
To help ease the uncertainty of today’s economic times, Gold IRA Companies like The Metal Exchange have stepped in to offer their financial services. The Metal Exchange helps investors roll over their existing 401k plans into a precious metals IRA account that can be used to fund gold, silver, and other precious metals investments. Like any other company, it’s always best to do your research. Can The Metal Exchange company be trusted? We hope this review will shed some light.
Better Business Bureau
1 complaint closed with BBB since March 10, 2013
As with any other type of company or organization, there can always be a few cracks found underneath the surface of the operation. The Better Business Bureau is no different from other companies and it’s company grading scale is proof of that. You see, in order for a company to get an A+ rating with the BBB (top business accreditation), a company must file paperwork and pay a fee to ‘earn’ that accreditation. This is a flaw within the BBBs grading system that many companies don’t like, but with such prestige behind the A+ grade, many business succumb to the process and do whatever it takes.
Unfortunately for The Metal Exchange, they were not able to even receive a grade from the Better Business Bureau. This could be due to the fact that they didn’t file any paperwork nor paid money. Or it could also be due to not meeting the standards demanded of the BBB. Whatever the reason may be, the company is currently displaying an A+ rating seal on their website from the BBB, when in fact they are not accredited or graded for that matter.
They have also had numerous amounts of complaints against them from disgruntled consumers. Which makes us wonder: how can a precious metals company be trusted when they’re misinforming the public about something as simple as accreditation? Business ethics play a major role in the financial industry and if a company is being dishonest about something so small, how can they be trusted when you’re ready to make big financial decisions?
Business Consumer Alliance
Total Complaints: 0
One thing we found remarkably odd was that The Metal Exchange seizes to exist anywhere online. There are virtually no records of the precious metals company anywhere to be found online. This should raise uncertainty among many investors, especially since any and everything can be found on just about any company online these days.
It’s always recommended to conduct thorough research on and Gold IRA Companies before making an investment decision, but with virtually no information on The Metal Exchange anywhere to be found, it’s quite hard to decide if this is a company you can trust with your hard earned investment capital. When there’s no negative or positive reviews about a company, this could be a sign of trouble.
Both the BBB and the BCA list the company as a reputable source. Although the Better Business Bureau does have some controversy, it is still the go to organization when dealing with consumer protection. This shows that someone within the organizations trusts The Metal Exchange. A consumer should be comforted knowing that some of the biggest protection agencies welcome The Metal Exchange in to their trust.
Social Media Conundrum
When we visited their website, we found that their Facebook link redirected us back to our own Facebook home page. Also, their twitter account has less than 4 followers and only has a total of 4 tweets. It’s almost as if they’re creating a facade of how they want to be perceived to trick consumers into thinking they’re credible. This is certainly not good and would make any investor worrisome.
The Final Ruling
While the Better Business Bureau and Business Consumer Alliance are both credible consumer advocate organizations, something doesn’t quite add up. It is very easy for a company to set up a few phony profiles for credibility purposes in order to lure eager clients out of their hard earned income.
We’ve reviewed many bad and good companies here at Smart Gold Investments but we’ve never come across a company with so little to go off on. There is certainly not enough information and in fact a huge piece of this puzzle missing. Smart Investors wold be wise to seek out other Gold IRA Companies to do business with. Proven track records, customer reviews, and other accolades should be default requirements when dealing with any financial institution.