Monfex Website: www.monfex.com
Address: St. Vincent and the Grenadines
Regulated By: None
Warned By: National Securities Market Commission (CNMV)
Monfex is an obscure financier who has negatively drawn the attention of regulators. Experienced traders carefully prepared to stay away from such unregulated sites, but unfortunately, new ones got trapped by them. Read this Monfex Review to find out the wide range of issues one will experience while trading with Monfex.
Despite Monfex attempts to look legit and trustworthy, we can’t disregard the alerts that the Monfex is by implication giving us. There are many brokers like it, and we can quickly recognize the kind of specialist we were dealing with by stepping into the site. We also reviewed comparative-looking broker sites in our scam brokers 2022 list, the vast majority of them are unlicensed and obscure. Find more about the scam broker in our review list.
Warning Signs – Monfex Review
Is Monfex Legit?
Monfex is not a legit broker but an unregulated site, which has proactively been uncovered as a scam by various review sites.
We want to alert you that unknown brokers like this will be one of the most terrible kinds. They are known to scam traders and vanish with all your funds. Most of the time, the fraudsters shut down their websites, phone lines and leave no clue to file a complaint against them. You will never get a chance to contact them or take lawful action against them.
While picking a forex specialist, ensure you find yourself a genuine organization that is being owned and supervised by a reliable controller.
There is no data about least deposit prerequisites, withdrawals, demand handling time, and many more. The authoritative reports introduced settle no exchanging conditions by any stretch of the imagination, which is a significant warning and proof of fraud.
You might even bring in some cash on exchanges at first, will not have any option of withdrawal. This is the basic issue with brokers like Monfex, who are unregulated.
Overall, Monfex is an untrustworthy obscure business. Remain safe and keep away from this potential scam.
Negative Monfex Reviews
One thing we’ve seen, Monfex reviews are loaded with negative remarks. Numerous traders revealed that the broker fooled them and steal their money. We advise you to read the review of brokers before trading with them.
How Does Monfex Scam Work?
It begins from a call and underlying speculation. Generally, you are being requested your card information via telephone, which we suggest you keep away from. After you deposit money, the broker convinces you to contribute more. When you invest more, soon the organization takes cash without your assent.
Scammed By Monfex Broker? – Get Consultation From Recovery Experts!
If you are a victim of the Monfex scam, report scam complaint against Monfex. Always remember that you are not the only one who got scammed by such a fraud broker. Contact our recovery specialists and see the most effective way to get your funds back.
Book a free consultation as it’s your initial move towards recovery!