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

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 ???

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

Related Questions & Answers

More Investment Law questions and answers in California