Orion Metal Exchange Review: Fees, Minimums, Custodians, Complaints

Is Orion Metal Exchange legitimate, and what does it charge?

"Legitimate" asks for a verdict, and we do not give verdicts on companies. What we can do is show what Orion Metal Exchange says about itself, what independent records we could open, and what we could not check. A search that finds nothing is not a clean bill of health.

On charges, the pages we read on Orion's website state no account setup fee, yearly custodian fee, storage fee or minimum purchase, and they name no custodian or depository. That is a gap in what the company publishes, not proof that fees are high or low. It means the numbers have to come from Orion in writing before you send money. The questions to ask are listed near the end.

This page follows our company research methodology, the same one we use for every company in our Gold IRA companies library.

Who is Orion Metal Exchange?

According to Orion's website, the company sells gold, silver, platinum and palladium. It also offers precious metal IRAs, storage with third parties, and home delivery. The headquarters address on the site is 12301 Wilshire Blvd, Suite 412, Los Angeles, CA 90025, and the phone number is 1-800-559-0088. The home page says the company was established in 2017.

Two other details come from the company's own pages:

• Operating name. The footer says that New York residents deal with the company under the name Orion Precious Metals Inc. The Terms of Use say the agreement is "between you and Orion Precious Metals, Inc. and its affiliates," and the Privacy Policy names "Orion Precious Metals, Inc." as the operator of the site. None of the pages we read state where that company is incorporated.
• Experience claims. The home page says the owner has 25 years of experience in the precious metals industry. The About page repeats the 25-year owner claim and names no individual. We did not see a list of officers or staff on the company's pages, and none of the pages we read gives a state dealer license or registration number.

Quick facts at a glance

How does a Gold IRA with Orion work?

A Gold IRA is a self-directed Individual Retirement Account (IRA) that holds physical metal instead of mutual funds or stocks. Three roles are involved:

• The dealer sells you the metal. Here, that would be Orion.
• The custodian is the company that legally holds your IRA, keeps the records and sends the tax forms.
• The depository is the secure vault where the metal is kept.

Our guide to the custodian, the dealer and the depository explains why this matters. The IRS collectibles rule discussed below is why the account must be held by a bank or approved nonbank trustee rather than by you.

Orion's IRA page describes the steps this way: you contact the Orion team by phone or through its contact page. You then open a new IRA or transfer or roll over an existing retirement account. The page says the company's in-house IRA department "can help you choose a precious metal custodian," and you establish and fund the account. The Services page says the IRA department helps set up the account and contacts your current custodian to request the transfer. It also says the metals are insured and shipped to an insured IRA depository account. The IRA page, separately, says it is important to confirm the choice between a rollover and a new account with a CPA or tax advisor and says Orion "does not offer tax advice," while the Services page disclaimer says to consult "a licensed financial advisor" before making investment decisions. For the general picture, see how a Gold IRA works, and for the paperwork that moves money out of an old workplace plan, see our guide to rolling a 401(k) into a Gold IRA.

Which custodians and depositories does Orion use?

We could not find out, and this is the most important gap on this page. The pages we read use broad language instead of names. The FAQ says: "Unlike our competitors, we work with every IRS-approved precious metal custodian and depository in the nation." The Services page uses slightly different wording, saying Orion "offers the services of every legitimate precious metal IRA custodian and depository in the nation." The word "legitimate" on one page and "IRS-approved" on the other are not the same, and the pages do not explain either one. The FAQ also says metals are held "in custody" by an IRS-approved custodian and an insured IRS-approved commercial depository, without naming either.

Why does that matter? Because the custodian publishes the fee schedule that sets your yearly account charges, and the depository sets storage terms. Without those names, the real costs cannot be looked up, so we state no account fee for Orion. Our guides to custodian fees, storage fees and hidden fees show what the usual charges look like in general.

Is the custodian on the IRS list?

The Internal Revenue Service (IRS) publishes a list of approved nonbank trustees and custodians, current "as of April 1, 2026" at the time we opened the page. Because Orion names no custodian, we had no name to check against it. Our guide on custodian requirements explains what the rules ask for. Ask Orion for the custodian's full legal name, then ask the custodian directly how it is authorized to hold IRAs.

What does Orion say the fees are?

One sentence on Orion's due diligence page deserves a close look. It says: "Generally, there is a commission fee to buy and to sell." The page says this as a general description of the industry, and then presents Orion's commission-free buyback as part of what it calls "THE ORION STANDARD." It does not say whether Orion charges a commission when you buy. The product pages carry prices, but we did not find a statement of how those prices relate to the spot price. Whether a commission applies when you buy is therefore a fair question to put in writing. Likewise, ask whether there is a minimum for an IRA, for a cash purchase and for third-party storage; our guide to minimum investment explains the usual pieces.

What do you pay for the metal itself?

Two terms help here. The spot price is the current market price for one troy ounce of the metal. A dealer sells above spot (the added amount is called the premium or markup) and buys back below spot. The difference between the selling price and the buyback price is the spread. The Commodity Futures Trading Commission (CFTC) puts it this way in its customer advisory on buying physical metals: "A dealer will always sell metal above the spot price and buy it back below the spot price." The same advisory says: "If fees are not available in writing before your purchase, that is a red flag." And it suggests you "Ask how much you would receive if you had to sell back the metal tomorrow."

What does Orion say? On the pages we read, it makes these statements about price:

• Its Services page says you can purchase on a recorded phone line, and that "With a phone call, you can guarantee the product and pricing."
• Its home page says online pricing includes shipping and insurance.
• A banner at the top of the Terms of Use page reads "WE WILL BEAT ANY COMPETITOR'S ADVERTISED PRICE – Call Now To Confirm Product Availability." The page does not describe the conditions of the offer.
• Its home page and Services page say you can "buy, sell, and exchange metals in your retirement account as a non-taxable event." That is Orion's claim. We could not open the IRS rollover page to check how it applies, so ask a tax professional what it covers, for example whether it concerns only trades inside the IRA and not money moving in or out.
• Its due diligence page says that a company that will not advertise prices may charge more, and lists online product pricing among its standards.

What is missing is a spread, a premium over spot, or a buyback price table. A buyback described as "commission-free" tells you that no separate commission is taken. It does not tell you how far the buyback price sits below the spot price. Those are two different things. Our guide to dealer premiums, markups and spreads shows how to compare quotes.

Here is an invented example, not Orion's actual spread. If you pay $20,000 for coins and the buyback price for the same coins is 4% lower with the market unchanged, you would receive $19,200. The buyback price would have to rise about 4.2% to get you back to $20,000. That is why we suggest asking for the sale price, the spot price and the current buyback price, all in writing, for each product you quote.

What does Orion say about buying back your metals?

Orion's Services page has a section on buybacks. It says:

• "We offer our clients an exclusive commission-free buyback policy."
• You can lock your buyback price with a phone call: "With Orion Metal Exchange, you can guarantee your buyback price with a 30-second phone call."
• After the company receives the metals, it sends the proceeds "at the price initially guaranteed on your invoice."
• "Please allow 4-7 business days for payments to be processed."
• If you hold the metals yourself, the company arranges an insured courier pickup.

Notice what these statements do and do not cover. They describe a process and a timeline. They do not say how the buyback price is set, whether it is based on spot or on a dealer bid, whether there are conditions on the products you can sell back, or what happens to the price you were quoted if the metals arrive in a condition that differs from the invoice. We did not find a written buyback policy on the pages we read, even though the company's due diligence page lists a "Written commission-free buyback policy" as one of its standards. Ask for that document, and read it before you buy.

A buyback promise is also not the same as a guarantee that a company will always buy. Our guide on buyback policies and liquidation costs explains what a buyback policy can and cannot promise, and our page on liquidity risk covers the case where you need cash quickly.

For an IRA, there is one more layer. The sale happens inside the account, so the custodian and depository may have their own charges and timelines on top of the dealer's. The Services page does not mention them.

Where is the metal stored, and is it insured?

The Services page describes two kinds of storage:

• IRA storage. The page says metals are shipped to an insured IRA depository account, and that "Every IRA commercial depository we work with is insured by Lloyd's of London for the value of the precious metal holdings."
• Third-party storage outside an IRA. The page says this is for metals bought outside a retirement account, and that Orion helps customers open a direct account with an insured commercial depository in the United States.

Neither description names a depository. Because we do not know which depository would be used, we could not open any depository's own page to check the insurance claim, the audit reports or the fee schedule. The insurance statement is therefore Orion's claim only. If you want to rely on it, ask for the policy details and a certificate in writing. Our guides to IRA metals insurance and how to verify your metals list what to request, and segregated and commingled storage explains a choice you will likely be asked to make: whether your metals are kept separate from other customers' holdings, or pooled with them.

What does Orion say about storing IRA metals at home?

Orion's FAQ answers "Can I store my IRA precious metals at home?" with a no, saying it is not economical and could expose the owner to IRS fines, and cites Internal Revenue Code sections 408(m)(3)(B) and (n). The IRS says buying a collectible with IRA money is "treated as an immediate distribution from such account in an amount equal to the cost to the plan." It also says certain bullion of a certain fineness is excluded "if a bank or approved non-bank trustee keeps physical possession of it" (see the IRS page on investments in collectibles and our guide to home storage). A tax professional or attorney should review any specific structure.

What does Orion say about its reviews and recognition?

Orion's pages cite a number of outside names. Here is what the company reports.

• "850+ Five Star Reviews" on Trustpilot (home, IRA and due diligence pages), with no date or source data.
• "Consumer Affairs accredited Since 2018!" and Retirement Living accreditation (home page).
• "BBB accredited and A+ rated" and 5-star ratings on Google Reviews and Trustpilot (About page). The BBB statement matches the screenshots described below.
• Recognition attributed to the Chicago Tribune and Money (About page).

We did not open the review sites or publishers, so only the BBB statement is matched to a source. These are ratings and endorsements gathered by other websites and reported by Orion. They are not a rating from us, and we do not repeat the company's "best" style labels as findings. Our guides on how review sites make money and on fake and incentivized reviews explain how to read them.

The home page also compares Orion with unnamed "industry average" competitors, and the FAQ says "Unlike our competitors." We did not see the data behind these comparisons, so we do not repeat them as facts.

What does Orion's BBB profile show?

The Better Business Bureau (BBB) is a nonprofit that publishes business profiles, customer reviews and complaint records. The BBB pages could not be opened directly. The details below come from screenshots of Orion's BBB profile, reviews and complaints pages, viewed by the site owner on 2026-10-15. The newest customer review visible is dated 10/09/2026.

The "About This Business" text on the profile reads: "Orion Metal Exchange provides precious metal investment services, including gold, silver, platinum, and palladium products. The company assists clients with establishing precious metal IRA accounts, commercial depository storage, and insured home delivery of metals." This text is likely supplied by the company. The licensing box showed only generic BBB text and no license number.

What do BBB's complaint figures show?

BBB's profile shows 2 total complaints in the last 3 years, and 1 complaint filed in the last 12 months. The complaints page showed "There are no matching results" along with a BBB note that reads: "Published complaint details may be unavailable. Some complaints may not be published due to the submitter's preference, BBB's publication standards, or the volume of complaints received about a particular business."

So the text, type and status of those complaints were not visible on the page, and we do not know what they were about or how they were resolved. We state the two counts and nothing more. A complaint is an allegation made by a customer, not a finding.

What do BBB customer reviews show?

The 4.96 average is an average of 28 BBB customer reviews. It is a different measure from BBB's letter grade. The newest reviews visible, dated 04/14/2026 to 10/09/2026, were all rated five stars, and no company replies were visible. Those reviews are not a sample of all 28, so we do not draw conclusions from them. Some reviews contain claims about outcomes or about other companies. These are unverified customer statements, and we do not repeat them.

Entity details worth asking about

The BBB profile lists 2017 start and incorporation dates and the alternate name Orion Precious Metals, Inc. The website Terms name that company as the contracting party but give no state of incorporation. Ask which legal entity you would contract with and where it is incorporated.

What do the website terms say?

When you use a company's website, you agree to its Terms of Use. These are not the same as the agreement you sign to buy metal. Orion's Terms say that a signed Customer Agreement controls if the two conflict. We did not see a Customer Agreement, so we can only describe the website terms.

The Terms name Orion Precious Metals, Inc. and its affiliates as the other party. They say California law governs, with the Federal Arbitration Act governing arbitration. Disputes go to "final and binding arbitration" before the American Arbitration Association, after a letter and a 60-day wait. The arbitration is set "in Los Angeles County," but the Terms also say the parties are not required to travel there: a "Desk Arbitration" is decided on written documents unless a party requests a hearing within ten days, in which case the hearing is by telephone. Either side may use small claims court instead. Class actions are waived, and consolidated or representative proceedings are barred. Venue is Los Angeles, and if that clause cannot be enforced, the user's home county. The base arbitration filing fee is $200, and the company pays the arbitrator's fees for claims under $10,000. Orders may be rejected or cancelled for pricing or description errors, and no general return or refund policy appears in the Terms.

The checkout area shows an "Easy Returns" badge, but we found no policy text behind it. If returns or cancellations matter to you, ask for the terms in writing.

Terms like these can limit your options if there is a dispute, so read them before you agree. We are not lawyers, and none of this is legal advice. If you are about to sign an agreement, an attorney you trust can review it.

What public records did we check?

Our methodology lists the records we look for on every company. Here is what happened for Orion.

Two cautions apply. First, a zero in the CFPB database means that no complaint under those names appeared in that database on that day. Second, a general web search is not a search of a court docket or a regulator's records. A search that finds nothing does not prove nothing exists.

We make no claim that Orion has, or has not, been the subject of a lawsuit, regulatory action or complaint outside the records above. If you want to run these checks yourself, our guide on how to verify a dealer walks through BrokerCheck, NFA BASIC, state regulators and court records step by step. Orion's own due diligence page makes the same point about checking court records and regulators, since a BBB profile is not a complete source. Our enforcement database will list any cases we find in orders and complaints that we have read.

What should you ask Orion before you sign anything?

Whichever dealer you consider, these questions come from regulators' own advice and from the gaps we found above. Ask for answers in writing.

1. Who is the custodian and depository, by full legal name? Ask for each fee schedule with its revision date, and whether storage is separate or pooled.
2. What are all the fees, in dollars? Setup, yearly custodian, storage, wire, transfer-out, liquidation and closing fees.
3. Is there a minimum? Ask separately about IRAs, cash purchases and storage.
4. What are the sale price, the spot price and the buyback price for each product I'm quoted? Ask for all three at once, and whether a commission applies when I buy.
5. May I see the written buyback policy? Ask how the price is set and what conditions apply.
6. What does the Lloyd's of London insurance cover, and who is insured? Ask for a policy summary.
7. What are the cancellation and return rights for each product type?
8. How are your representatives paid? The CFTC advisory suggests asking this directly.
9. Which legal entity am I contracting with, and where is it incorporated? May I see the Customer Agreement, including arbitration terms, before I send money?

Our full checklist is in the guide on how to evaluate a Gold IRA company.

What risks apply no matter which company you pick?

Metal prices go up and down, and a Gold IRA carries dealer, custodian and storage costs. Counterparty risk, the chance that a company you depend on fails to do its part, is covered in our counterparty risk guide. We do not predict prices.

How does this compare with other companies?

We publish every company review on the same set of fields so you can read them side by side, and we do not rank them. If you want to compare, our Patriot Gold Group review and Priority Gold review are planned using the same structure, and a side-by-side page is planned: Goldco vs Orion Metal Exchange. For the wider picture of how dealers, custodians and depositories fit together, start at Gold IRA Companies Compared.

How was this page researched, and when will it be updated?

On October 15, 2026, we opened Orion's home, IRA, Services, FAQ, About, due diligence, Terms of Use and Privacy Policy pages. We also opened the IRS page on approved nonbank trustees, the IRS page on collectibles in IRAs, the CFTC's customer advisory and the CFPB complaint database. BBB figures come from screenshots of its profile, reviews and complaints pages viewed by the site owner. Each is cited above with the access date.

Because the company's pages name no custodian or depository, we could not open any fee schedule. Anything that came only from Orion is written as Orion's statement. We left out facts we could not confirm from a page we opened.

Fees, terms and company information are reviewed every three months under our update policy, and sooner if a regulator announces an action or a reader reports an error. If you see something here that is out of date, please tell us through our corrections page. Our advertising disclosure explains how this site is funded.

This page is general information, not personalized advice. Decisions about your retirement savings depend on your own situation, so talk with a qualified financial planner, tax professional or attorney before you act.