Oxford Gold Group Review 2026: Serious Customer Accusations Have Led to Its Closure
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By Tim Schmidt Sr.
Accredited Investor and Gold IRA Specialist
Right out of the gate, you need to know two things about Oxford Gold Group — first, it is no longer in business, and second, we absolutely do not recommend it. However, we understand that there are going to be people who stumble upon the company name and are curious about it. There also might be former customers who want to know what happened.
In August of 2024, Oxford Gold Group received many complaints from customers alleging that the company did not place gold and other precious metals in depositories after customers paid thousands and thousands of dollars for the metals as a part of their retirement portfolios.
In this Oxford Gold Group review, we will take a look at how great Oxford Gold Group seemed, as well as further explain its fall from grace.
I’ve been covering this space for well over a decade. I keep tabs on the best gold IRA companies as well as the bad apples that continue to surface.
Unfortunately, like my Lear Capital review, this one fits the narrative of the latter.
Oxford Gold Group – Closed its Doors and Ran Away with IRA Accounts
Back in the day, Oxford Gold Group had a good reputation and was a company that those looking for a gold IRA trusted. They had physical precious metals available for purchase and they helped to facilitate opening gold IRAs with a company called Equity Trust, a very well-regarded custodian in the industry.
Oxford Gold Group was founded in 2017 and quickly established itself in the precious metals investment sector, but recent events have severely impacted its credibility.
Based in Beverly Hills, the company worked with investors who were ready to set up self-directed IRAs backed by assets like gold coins and other physical gold and metals. The company told its investors that everything was going smoothly…but in reality, it had stolen everyone’s money…allegedly, as now the FBI is involved and there are ongoing lawsuits.
These are very serious allegations, of course, and Oxford Gold Group shut its doors, took down its website, and ran. The kicker? The company shut its doors in April, but it was still taking stolen money from customers well into May, at least according to several customers and documents. The California Franchise Tax Board suspended the company from doing business in the state, and the Better Business Bureau followed suit by revoking its accreditation.
As of August 2024, Oxford Gold Group’s rating on Trustpilot has significantly dropped, reflecting widespread dissatisfaction among customers. Other consumer review sites show the same. Previously, customers cited knowledgeable staff and helpful educational resources, leading to early high ratings on sites like Trustpilot. However, that soon changed. Numerous reviews indicate that customers were charged significantly more than the market price for their purchases. Many customers reported a complete lack of communication from Oxford Gold Group’s leadership and disconnected phone lines after funds were transferred. Others reported that the offices were totally abandoned.
The Biggest Bluff in Beverly Hills – How Oxford Gold Group Worked
Oxford Gold Group claimed to offer traditional IRAs, Roth IRAs, etc, all backed by precious metals. They claimed to offer secure storage for gold and silver and had celebrity endorsers like Jesse Kelly, a well-known conservative talk show host. Even Jesse Kelly learned the truth, though, eventually, even though he was still singing the praises of this company in ads on the radio. Probably paid by possible stolen money.
Though Oxford Gold Group was the ultimate wolf in sheep’s clothing, we still have documentation and memories of how it worked…or, how it was supposed to work:
Start the process
Investors who were interested in creating retirement accounts with Oxford Gold Group were supposed to contact the company to discuss their options. In addition to precious metals IRAs, the company also offered gold and silver products for personal investments. This is very common in the industry, and it would never raise any red flags that anything was off or unscrupulous.
However, even from the start, there were a few accusations here and there that claimed the company was misleading or not following the customer’s investment strategy. Others claimed that the entire process seemed to be off.
From an expert in these types of investments, and someone who has worked in the gold IRA industry for a while now, I can tell you that these accusations aren’t totally out of the realm of possibility for any gold IRA company. Investors often go into these situations without a lot of knowledge or experience, so I would probably, at this point, say that this is what was happening and not anything nefarious.
Fund the account
The next step was to fund the new retirement savings account. In many cases, investors were told that the company was working with reputable custodians like Equity Trust, but we later found out that this wasn’t necessarily true, and Equity Trust quickly cut ties with the group that owns Oxford Gold Group and sent letters to investors stating they were not associated with Oxford Gold Group any longer.
On top of this, many investors claim to have lost hundreds, and even thousands, of dollars because the company was taking their money but not securing their metals.
Choose your metals
Once investors took steps to contact Oxford Gold Group and fund their accounts, they could choose their metals. There was a nice range of options available, though many claim that the metals from Oxford Gold Group cost more than others. Fees were never fully disclosed, and the company often changed prices depending on various situations.
Even with all of the options, many still claimed that they never got their metals and when they tried to make phone calls about it, they were on hold forever and blown off with excuses.
Delivery and storage
Even if the process had gone smoothly up until this point, Oxford Gold Group claimed that they offered secure storage and shipping and partnered with well-known and highly trusted depositories like Brink’s Global Services. However, many investors claim that they never got their metals and never had any contact with Brink’s or any other depository.
Overall, customers trusted Oxford Gold Group to help them invest in their future. They trusted the company to lead them in the right direction and not be a big scam.
However, what really happened is that Oxford Gold Group didn’t fully disclose fees, charged high commissions and storage fees, and had extremely high markups. They also didn’t offer a money-back guarantee, so investors really didn’t have a lot of options and fear really began to set in. This is especially true when the Oxford Gold Group website shut down and there was no way to reach the company any longer.
Oxford Gold Group – Other High-Quality Options for Gold IRAs
Since Oxford Gold Group is no longer in business, there are likely investors out there who are still looking to secure their financial future in a safe way with a legitimate company. Here are some of the best options:
American Hartford Gold
American Hartford Gold is a leader in the precious metals industry and has been for more than a decade. The company is very trustworthy and is one of the precious metals dealers I often recommend to those looking to invest in a gold IRA.
The company is located in Los Angeles and they make the investment process easy and clear. The company has fair pricing, transparent fees, and specialists who can help walk you through the process.
Augusta Precious Metals
Another option is Augusta Precious Metals. This company is known for putting education first and for offering one-on-one white glove service. The company handles most of the paperwork, too, which makes Augusta Precious Metals a great option for beginners.
One thing to keep in mind is that Augusta Precious Metals has a high minimum investment of $50,000. However, it is extremely reputable, it has a strong focus on transparency, and it’s always one of my top picks.
Oxford Gold Group’s Reputation
If we look at Oxford Gold Group reviews, we can see that they are overall quite terrible. Here’s a summary:
- Better Business Bureau – Oxford Gold Group is not accredited, and it has an F-rating. It has a 2.35/5-star customer rating.
- Trustpilot – 1.7/5 star rating with many complaints
- Yelp! – 1.2/5 star rating with many complaints
Here are a few notes about the information above:
In regard to the Better Business Bureau, they revoked Oxford Gold Group’s accreditation on June 25, 2024 due to the company’s failure to address the disputes that were appearing on the site. The BBB started an investigation into Oxford Gold Group after a high number of complaints. Over time, the BBB did try to work with Oxford Gold Group, but they never got a response.
Now, the BBB has given Oxford Gold Group an “F” rating, and there are many complaints about investors losing their retirement savings and getting notes that the depository they were working with is no longer working with Oxford Gold Group.
Reviews and comments on Trustpilot are similar. Customers share many of the same concerns as those on the BBB websites, and many report losing their retirement funds and experiencing severe financial losses.
As we look at all of this, we can see how much Oxford Gold Group’s reputation has suffered, and many people have been hurt financially by the company. If, for whatever reason, the company ever resurfaces, I highly recommend staying as far away from them as possible.
Oxford Gold Group FAQ
Is Oxford Gold Group a Legit Company?
Oxford Gold Group used to be a legit company, but several recent accusations have had people asking, “is Oxford Gold Group legit?”
The company’s BBB accreditation has been revoked due to its business practices and failure to respond to customer complaints on the site. There have also been a lot of accusations of people not getting the metals they paid for.
Because of these, I would not say that Oxford Gold Group is a legitimate company.
What happened to Oxford Gold Group?
Over the past couple of years, Oxford Gold Group has come under a lot of controversy after many customers began to complain that the precious metals they bought from the company were never delivered.
The company seemingly shut its doors, took its website down, and after numerous complaints went unanswered on the BBB website, it also lost its accreditation. Currently the FBI is investigating and there are several lawsuits pending.
How do I know if a gold IRA or precious metals company is legit?
To figure out if a gold IRA company is a legitimate and safe one to work with, it’s best to follow these steps:
- Check the company’s accreditation – Always ensure that the company is accredited by a reputable organization like the Better Business Bureau. It should have a very high rating and only a few complaints.
- Look at customer reviews – Another thing to do is to look for positive reviews across platforms like Trustpilot and Consumer Affairs. Be on the lookout for sudden drops or a lot of negative complaints.
- Make sure the company is transparent – A trustworthy company should be transparent with their fees, costs, and terms. Don’t work with companies that don’t share their prices or have accusations of hidden fees.
- Research the company’s history – Take a deep dive into the company and look at their history. Do they have legal issues? Have there been regulatory complaints? Companies that have issues in their history with customer complaints or legal problems are likely not the best for potential investors.
- Contact the company – Finally, reach out to the company. Ask questions about the processes they use, the fees they charge, and storage options. A good company will be very transparent about what they charge and what they offer.
What do I do if I have funds invested with Oxford Gold Group?
If you are one of the investors who had money in Oxford Gold Group and you are facing issues with what the company has done, here are some steps you can take:
- Document everything and collect records of all communications. You should also look for and flag any transactions out of your bank account or retirement account that have to do with Oxford Gold Group.
- You should also contact the depository your metals were supposed to go to. Find out if they have the metals or if they received the metals.
- Next, you should file complaints. File a formal complaint with the Better Business Bureau, and post reviews on other sites. Also, reach out to the Consumer Financial Protection Bureau.
- It’s also a good idea to reach out to an attorney who specializes in these types of cases. You will want to look into your legal options.
- Finally, stay informed about what is happening with Oxford Gold Group. There will likely be some type of regulatory actions or class action lawsuits.