Oxford Gold Group Review 2024 - Buyers Beware!

Making the decision to invest in precious metals is a substantial commitment that demands careful evaluation of the assets you add to your portfolio. As such,On one hand, selecting the right partner to fulfill all your investment requirements is essential but at the same time, Its is also essential to be aware of the possible Scams.

There are numerous companies available for gold investment.

Oxford Gold Group WAS previously recognized as a trusted partner for individuals seeking to safeguard their financial future through investments in gold and other precious metals.

However,?

Recent complaints have surfaced, alleging that the company did not invest the transferred funds as promised, with numerous investors reporting that the gold was never deposited as expected.

In this article below, we will dig down on all such reviews and complaints & talk about what are the pros and cons of Oxford Gold Group.

P.S.

Learn about a 100% transparent gold & silver company instead

Oxford Gold Group Review 2024:

Here is a quick brief about the company;

?

Oxford Gold Group is facing severe allegations of fraud.

The overwhelming consensus from the reviews is that Oxford Gold Group has misappropriated customers' funds. Key points include:

• Non-delivery of metals: Customers who invested in gold and silver through the company claim that their purchased metals were never delivered to the designated depository, Equity Trust.
• Lack of communication: Customers report difficulty contacting Oxford Gold Group, with many claiming no response to calls or emails.
• Company closure: The company's website is down, and its office is reportedly closed.
• Legal action: Customers have filed complaints with regulatory agencies like the FTC, BBB, and local law enforcement.
• Significant financial loss: Many customers have lost substantial amounts of money, including retirement savings.
• Potential class-action lawsuit: Some customers are considering legal action against the company.

It's important to note that these are serious allegations and the situation is under investigation. Potential customers are strongly advised to avoid doing business with Oxford Gold Group until the matter is resolved.

Overall, the reviews paint a picture of a company that has potentially engaged in fraudulent activities.

Is Oxford Gold Group Legit?

The short answer is, It Used to be but right now,? No!

Here's why;

Although Oxford Gold Group was once seen as a reputable company, recent developments have raised significant concerns about its legitimacy.

The company lost its BBB accreditation due to its failure to resolve consumer complaints, and a growing number of customers have reported losing their investments after not receiving the precious metals they purchased. In light of these issues, the legitimacy of Oxford Gold Group is now highly doubtful.

Oxford Gold Group Pros and Cons:

Pros:

Due to the recent developments with the company and huge number of complaints, we will not emphasize the Pros of investing with the company

Cons:

• Concerns about transparency in business practices and transaction handling.
• Reports of precious metals not being delivered as promised, leading to financial losses for some clients.
• An increasing number of complaints regarding the handling of investments and customer service.
• The company’s BBB accreditation was revoked due to failure to address consumer complaints.
• The company has taken down its website, affecting access to information and services.
• Like all investments, precious metal IRAs carry risks, and past performance does not guarantee future results.

Oxford Gold Group Reviews & Ratings:

Better Business Bureau Ratings of Oxford Gold Group:

Years in Business: 7

BBB file opened: 2/11/2018

Business Started: 7/23/2017

Business Incorporated: 7/23/2017

Accredited Since: 8/12/2011

Type of Entity: Corporation

The BBB has now assigned Oxford Gold Group an "F" rating, indicating its failure to meet the standards expected of accredited businesses. Complaints include reports of consumers losing their retirement savings after the metals were not delivered to the depository and receiving notifications that the depository had ceased doing business with Oxford Gold Group.?

Trust Pilot Ratings of Oxford Gold Group:

Oxford Gold Group's rating on Trustpilot has dropped to 1.9 out of 5, with many reviews expressing similar concerns. Customers report investing their 401(k)s or other retirement funds, only to discover that the metals they purchased were never delivered, leading to significant financial losses.

Consumer Affairs Ratings of Oxford Gold Group:

Oxford Gold had 3.6 Star rating on Consumer Affairs

But,

Although the company had 56% Reviews with 5 Stars at the time of writing this review, the last 5 Star review dates back to January 2024. After that date, Oxford Gold Group was accused of fraud in numerous customer reviews. Customers claim non-delivery of purchased metals, lack of communication, and significant financial losses.

The Website also shows Oxford Gold as out of business

Oxford Gold Group website:

Oxford Gold website was: https://www.oxfordgoldgroup.com/

?

The Oxford Gold Group website has been taken down.

This removal affects access to important company details and updates. When it was operational, the site provided information about their investment products, customer testimonials, and contact details.

The absence of the website can impact transparency and make it more challenging for potential and current clients to obtain current information about the company's offerings.

What are the Fees for Oxford Gold Group?

Due to the current allegations against the company, It may not be a relevant thing as an investors

But,

If you are really curious,

Here is some information!

When Operational, Oxford Gold Group used to charge an annual maintenance fee ranging from $175 to $275 for precious metal IRAs. Accounts under $100,000 were subject to a $175 fee per year, while those with balances exceeding $100,000 incur a $225 charge.

The cost of storing your precious metals with Oxford Gold Group typically ranged from $175 to $225 annually.

What is the Minimum Investment required for a gold IRA with Oxford Gold Group:

Oxford Gold Group typically required a minimum investment of $10,000 to open a gold IRA.

Who owns Oxford Gold Group:

Patrick Granfar Used to serve as the President and Co-Founder of Oxford Gold Group Inc. Previously, he held the position of Senior Portfolio Manager at Lear Capital.

The recent unavailability of Patrick Granfar's LinkedIn bio page has raised further suspicions about the company's legitimacy.

Employee Team of Oxford Gold Group:

Not Applicable,

Why?

Although historically we discuss the employee team of the company in this section, but given the serious allegations of fraud and mismanagement against the company, focusing on employee information could potentially distract from the more pressing issues at hand.

Oxford Gold Group Complaints:

The main complaints in the reviews about Oxford Gold Group revolve around:

1. ? ? Fraud and Financial Loss: Several reviewers allege that they were defrauded and lost substantial amounts of money and entire 401(k) balances.
2. ? ? Misrepresentation and Trust Issues: There are accusations of misrepresentation and misplaced trust, with customers expressing regret over their decision to invest with the company.
3. ? ? Lack of Resolution and Support: Some reviews highlight a lack of resolution or support, with customers feeling stuck and frustrated, and expressing relief that they were able to seek help from other entities to mitigate their losses.

Below is a brief of these complaints from different websites;

?These complaints reflect serious concerns about the company's handling of investments and customer service.

What are the alternatives of Oxford Gold Group now?

Ok, So are there any alternatives to Oxford Gold Group?

There are quite a lot of trusted names out there with a long history and excellent reviews.

You can check out?my #1 Recommended Gold & Silver Firm, if you want a company that is near to perfect when it comes to investing in precious Metals.

If you want some further options, Check out Top 5 Best Gold Investment Companies in the U.S. 2024 , exclusively curated by Gold Retired having some excellent companies to work with.

How to Invest with Oxford Gold Group?

We will be skipping this part as its not relevant now.

Frequently Asked Questions:

Is Oxford Gold Group Legit?

Given the numerous allegations of fraud, mismanagement, and lawsuits against Oxford Gold Group, it is strongly advised to exercise caution when considering doing business with this company. The company's reputation has been significantly tarnished, and there are serious concerns about its legitimacy.

Who is the CEO of Oxford Gold Group?

Patrick Granfar is listed as the President and Co-Founder of Oxford Gold Group. However, information about the other co-founder is limited, and there have been questions raised about the company's overall leadership.

What Happened to Oxford Gold Group?

Oxford Gold Group has faced several allegations, including:

• Mismanagement of Customer Funds: The company has been accused of mishandling customer investments and failing to deliver promised precious metals.
• Lawsuits: Multiple lawsuits have been filed against Oxford Gold Group, alleging fraud, breach of fiduciary duty, and other financial misconduct.
• Negative Reviews: The company has received numerous negative reviews and complaints, citing issues with customer service, order fulfillment, and overall transparency.

What Do I Do If I Have Funds Invested with Oxford Gold Group?

If you have funds invested with Oxford Gold Group, it is crucial to take immediate action to protect your assets. Here are some steps you should consider:

1. Contact Regulatory Authorities: File a complaint with the relevant regulatory bodies in your jurisdiction. This can help initiate an investigation and potentially recover your funds.
2. Consult a Financial Advisor: Seek advice from a qualified financial advisor to assess your situation and discuss potential next steps.
3. Document Everything: Keep a detailed record of all your communications with Oxford Gold Group, including emails, phone calls, and any written correspondence. This documentation can be invaluable if you decide to pursue legal action.
4. Monitor Developments: Stay informed about the ongoing investigations and any legal proceedings involving Oxford Gold Group. This will help you make informed decisions about your next steps.

How Do I Know If a Gold IRA or Precious Metals Company is Legit?

When evaluating a gold IRA or precious metals company, consider the following factors:

• Reputation: Check online reviews, forums, and industry publications for feedback from previous customers.
• Regulatory Compliance: Ensure the company is registered with the appropriate regulatory bodies and adheres to industry standards.
• Transparency: Look for a company that is transparent about its fees, services, and investment options.
• Customer Service: Assess the company's responsiveness and willingness to address your questions and concerns.
• Due Diligence: Conduct thorough research and seek advice from financial professionals before making any investment decisions.

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