Legal Question in Investment Law in California

My Monex account representative did not follow my instructions and he did not advise me that I purchased of a gold bullion. I had specifically asked for several quotes for all the different gold and silver coins, and a quote on his commission, and the shipping charges, and of course the amount for the margin call. I had never freely agreed to any purchase on that day. But they have a tape from their "trade" line that I said "yes" to a "GBV" and he never advised me that I made a purchase. Now I have a loss of $600 for the difference in the buy and sell price because they considered this as a default according to the account agreement. What should I do to get my money back?

Asked on 7/04/13, 5:16 am

1 Answer from Attorneys

Bryan Whipple Bryan R. R. Whipple, Attorney at Law
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First, LawGuru attorneys are not supposed to answer questions identifying potential defendants in lawsuits. So, I'll limit my comments to saying that with a loss of $600, your remedy would not involve hiring a lawyer. Perhaps go higher up in the seller's organization to try to find a sympathetic ear. Then, maybe contact the federal regulatory body that supervises this kind of dealer. Don't know it that'd be the SEC, CFTC or ???

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Answered on 7/04/13, 8:55 am

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